Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property. Rear apartment is not occupied and being renovated in March 2024. Seller financing available at competitive rates with high down payment. All apartments are 1 bedroom, 1 bath for a total count of 5 bedrooms, 5 bathrooms. Building square footage of 3,135 and property is 5,719 square feet. No unpermitted construction, no open permits or inspection issues with the city. All tenants in good standing with no unpaid rents or Covid moratorium issues. Registered as a 5 unit property with the LAHD. Strong rental market with 20% upside in rents. Tenants enjoy easy access to transportation, shopping and easy access to Downtown LA. Unit mix - 4 large studio apartments in main building and 1 bedroom, 1 bath at rear building. The main building has 4 entrances in the front, upstairs apartments are accessed via private stairwells and most units have laundry hookups. The rear building, constructed in 1923, is accessed from the backyard area. Listing agent has an ownership interest in the subject property and is acting as a principal. Boyle Heights is experiencing renewed interest from home buyers and the surrounding block has seen a number of owners renovating. The new 6th Street Bridge provides exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo.
Sold for $950,000
Listed by: Coldwell Banker Realty • Adam Bray-Ali • Contact: 213-399-1940
Bought with: KW Executive
$950,000
705 S Chicago St, Los Angeles, CA 90023
1beds
1baths
3,135sqft
Multi Family
Built in 1912
-- sqft lot
$-- Zestimate®
$303/sqft
$1,573 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,573/mo
Zestimate® history
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Private stairwells
Zillow last checked:
Listing updated:
Listed by:
Adam Bray-Ali DRE #01859026 213-399-1940,
Coldwell Banker Realty
Bought with:
Matthew Guerra, DRE #02022646
KW Executive
Source: CRMLS,MLS#: P1-15332
Originating MLS: California Regional MLS (Ventura & Pasadena-Foothills AORs)
Originating MLS: California Regional MLS (Ventura & Pasadena-Foothills AORs)Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
Heating
- Natural Gas
Cooling
- None
Appliances
- Laundry: None
Features
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 3,135
- Total interior livable area: 3,135 sqft
Property
Parking
- Total spaces: 2
- Parking features: Door-Single, Driveway, Garage, Shared Driveway, On Street
- Garage spaces: 2
Features
- Levels: Two
- Stories: 2
- Has private pool: Yes
- Pool features: See Remarks
- Spa features: None
- Fencing: Chain Link,Wood
- Has view: Yes
Lot
- Size: 5,719 Square Feet
- Features: Front Yard, Garden
Details
- Parcel number: 5183022027
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Roof: Shingle
Condition
- New construction: No
- Year built: 1912
Utilities & green energy
- Electric: 220 Volts
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Community & HOA
Community
- Features: Lake, Storm Drain(s), Street Lights, Suburban, Sidewalks
- Subdivision: Not Applicable
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $303/sqft
- Tax assessed value: $969,000
- Annual tax amount: $12,425
- Date on market: 10/8/2023
- Cumulative days on market: 235 days
- Listing terms: Cash,Cash to New Loan,Conventional,1031 Exchange
- Inclusions: Seller owned appliances and equipment stored at the property.
- Exclusions: Tenant owned appliances and personal property.
- Tenant pays: Electricity, Gas, Trash Collection
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 5/31/2024 | Sold | $950,000-2.6%$303/sqft |
Source:  CRMLS #P1-15332 Report a problem | ||
| 5/29/2024 | Pending sale | $975,000$311/sqft |
Source: CRMLS #P1-15332 Report a problem | ||
| 4/19/2024 | Contingent | $975,000$311/sqft |
Source: CRMLS #P1-15332 Report a problem | ||
| 10/8/2023 | Listed for sale | $975,000-11.4%$311/sqft |
Source: CRMLS #P1-15332 Report a problem | ||
| 1/1/2022 | Listing removed | -- |
Source:  Pasadena Foothills MLS Report a problem | ||
| 10/24/2021 | Listed for sale | $1,100,000$351/sqft |
Source: Pasadena Foothills MLS #P1-6074 Report a problem | ||
| 10/18/2021 | Contingent | $1,100,000$351/sqft |
Source: Pasadena Foothills MLS #P1-6074 Report a problem | ||
| 10/5/2021 | Price change | $1,100,000-4.3%$351/sqft |
Source: Pasadena Foothills MLS #P1-6074 Report a problem | ||
| 8/6/2021 | Listed for sale | $1,150,000+233.3%$367/sqft |
Source: Pasadena Foothills MLS #P1-6074 Report a problem | ||
| 12/4/2009 | Sold | $345,000$110/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $12,425 +104% | $969,000 +121.9% |
| 2024 | $6,090 +1.7% | $436,588 +2% |
| 2023 | $5,986 +4.4% | $428,028 +2% |
| 2022 | $5,735 +1.4% | $419,636 +2% |
| 2021 | $5,655 -1% | $411,409 +1% |
| 2020 | $5,714 | $407,191 +2% |
| 2019 | $5,714 +4.7% | $399,207 +2% |
| 2018 | $5,456 | $391,381 +2% |
| 2017 | $5,456 +2.9% | $383,708 +2% |
| 2016 | $5,303 +2.7% | $376,185 +1.5% |
| 2015 | $5,162 +0.4% | $370,536 +2% |
| 2014 | $5,143 | $363,279 +4.5% |
| 2011 | -- | $347,597 +0.8% |
| 2010 | -- | $345,000 +709.8% |
| 2009 | -- | $42,603 +4% |
| 2007 | -- | $40,951 +2% |
| 2006 | -- | $40,149 |
| 2005 | -- | $40,149 +4% |
| 2004 | -- | $38,593 +1.9% |
| 2003 | -- | $37,887 +2% |
| 2002 | -- | $37,145 +4% |
| 2000 | -- | $35,705 |
Find assessor info on the county website
Neighborhood: Boyle Heights
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Nearby schools
GreatSchools rating
- 9/10Soto Street Elementary SchoolGrades: K-6Distance: 0.4 mi
- 6/10Hollenbeck Middle SchoolGrades: 6-8Distance: 0.3 mi
- 4/10Theodore Roosevelt Senior HighGrades: 9-12Distance: 0.5 mi
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- California
- Los Angeles County
- Los Angeles
- 90023
- Boyle Heights
- 705 S Chicago St
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