2418 Folsom Street

    Los Angeles (City), CA 90033
    • $2,275,000
    • STATUS: Active
    • ON SITE: 8 days
    • ID#: 19519836
    UPDATED: 9 min ago
    $2,275,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,000
      SQFT
    • $379
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2019
    County:

    School Ratings & Info

    Description

    2418 Folsom Street is a beautiful 4-unit investment opportunity in the rapidly growing neighborhood of Boyle Heights. Constructed in 2019, Folsom Street was built to offer an investor two (2) duplexes on one lot. These town-home style units each have four bedrooms and three bathrooms and boast high end finishes that include brand-new stainless-steel appliances, laminate floors, quartz countertops, washer and dryers, tankless water heaters, soft close cabinets, LED recessed lighting and central heat and air-conditioning. The quality of construction has been recognized by tenants as current ownership has quickly rented units to young professionals working in proximity to Downtown Los Angeles. Rents have grown dramatically in Boyle Heights over the last 5 years as more and more tenants flock to this beautiful Los Angeles sub-market to live close to job opportunities that are abundant at the USC Medical Center, Warner Brothers Music, Spotify and other companies in the Arts District.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-20T07:33:55.4. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/99880894

    2418 Folsom Street Los Angeles (City), CA 90033

    • Price: $2,275,000
    • Status: Active
    • Updated: 9 min ago
    • ID#: 19519836
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    6,000
    SQFT
    $379
    $/SQFT
    2019
    Built
    Neighborhood:
    BOYH - Boyle Heights
    County:
    Los Angeles
    Area:
    BOYH - Boyle Heights
    Property Description
    2418 Folsom Street is a beautiful 4-unit investment opportunity in the rapidly growing neighborhood of Boyle Heights. Constructed in 2019, Folsom Street was built to offer an investor two (2) duplexes on one lot. These town-home style units each have four bedrooms and three bathrooms and boast high end finishes that include brand-new stainless-steel appliances, laminate floors, quartz countertops, washer and dryers, tankless water heaters, soft close cabinets, LED recessed lighting and central heat and air-conditioning. The quality of construction has been recognized by tenants as current ownership has quickly rented units to young professionals working in proximity to Downtown Los Angeles. Rents have grown dramatically in Boyle Heights over the last 5 years as more and more tenants flock to this beautiful Los Angeles sub-market to live close to job opportunities that are abundant at the USC Medical Center, Warner Brothers Music, Spotify and other companies in the Arts District.
    Exterior Features

    Carport Spaces 8.00 Garage Spaces 0.00 Lot Size Source Assessor Lot Size Units Square Feet Parking Total 8.00 Parking YN Yes

    Interior Features

    Appliances Convection OvenFreezerDisposalRefrigeratorMicrowaveRange HoodDishwasherTankless Water Heater Appliances YN Yes Cooling Central Air Cooling YN Yes Flooring Laminate Laundry Features Washer IncludedDryer Included Room Type Master BedroomMaster SuiteWalk-In Closet

    Property Features

    Cap Rate 5.46 Country Us Electric Expense 1200.00 Fuel Expense 0.00 Gross Multiplier 13.76 Gross Operating Income 160399.00 Improvements Amount 119258 Insurance Expense 2400.00 Land Value 235040 Laundry YN Yes Maintenance Expense 1200.00 Net Operating Income 124162.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Number Of Units Leased 4 Number Wall AC 0 Number With Carpet 0 Number With Dishwasher 4 Number With Disposal 4 Number With Drapes 4 Number With Patio 0 Number With Range 4 Number With Refrigerator 4 Professional Management Expense 0.00 Property Condition Building Permit Special Listing Conditions Standard Taxes Percent 1.25 Tenant Pays ElectricityGasTrash CollectionWater Total Actual Rent 165360.00 Total Expenses 36238.00 Trash Expense 0.00 Water Sewer Expense 0.00 Zoning Lar3

    Listing provided courtesy of David Harrington of Matthews Real Estate Investmen


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-20T07:33:55.4. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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