113 S Mathews St
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113 S Mathews St
7 Unit Apartment Building $1,195,000 ($170,714/Unit) 3.77% Cap Rate Los Angeles, CA 90033
Investment Highlights
- MOTIVATED SELLERS
- Below Market Rents
- Excellent Value Add Opportunity
- Close to Downtown Los Angeles, shops, restaurants and transportation
Executive Summary
MOTIVATED SELLERS!!! Excellent value add opportunity in highly desirable Boyle Heights neighborhood. There are 5 units in the front building and 2 units in the back building. The property includes two 2 car garages. Excellent opportunity to convert the garages to ADU units. Long term tenants with below market rents. Huge upside potential. Individually metered for gas and electricity. The units have individual water heaters. Close to shops, restaurants, and public transportation. Lots of new construction in the area. The expenses are estimates.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$82,717
|
$15.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$82,717
|
$15.50
|
| Taxes |
$14,340
|
$2.69
|
| Operating Expenses |
$23,303
|
$4.37
|
| Total Expenses |
$37,643
|
$7.05
|
| Net Operating Income |
$45,074
|
$8.44
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $82,717 |
| Annual Per SF | $15.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $82,717 |
| Annual Per SF | $15.50 |
| Taxes | |
|---|---|
| Annual | $14,340 |
| Annual Per SF | $2.69 |
| Operating Expenses | |
|---|---|
| Annual | $23,303 |
| Annual Per SF | $4.37 |
| Total Expenses | |
|---|---|
| Annual | $37,643 |
| Annual Per SF | $7.05 |
| Net Operating Income | |
|---|---|
| Annual | $45,074 |
| Annual Per SF | $8.44 |
Property Facts
| Price | $1,195,000 | Apartment Style | Garden |
| Price Per Unit | $170,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 3.77% | Building Size | 5,338 SF |
| Gross Rent Multiplier | 14.44 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Parking Ratio | 0.75/1,000 SF |
| Price | $1,195,000 |
| Price Per Unit | $170,714 |
| Sale Type | Investment |
| Cap Rate | 3.77% |
| Gross Rent Multiplier | 14.44 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 5,338 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1913 |
| Parking Ratio | 0.75/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,042 | - |
| 1+1 | 1 | $582.00 | - |
| 1+1 | 1 | $1,165 | - |
| 2+1 | 1 | $1,169 | - |
| 1+1 | 1 | $1,097 | - |
| 1+1 | 1 | $582.00 | - |
| 1+1 | 1 | $1,255 | - |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (71)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 5180-003-024 | Total Assessment | $1,248,480 (2024) |
| Land Assessment | $728,280 (2024) | Annual Taxes | $14,340 ($2.69/SF) |
| Improvements Assessment | $520,200 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5180-003-024
Land Assessment
$728,280 (2024)
Improvements Assessment
$520,200 (2024)
Total Assessment
$1,248,480 (2024)
Annual Taxes
$14,340 ($2.69/SF)
Tax Year
2023
zoning
| Zoning Code | LARD1.5 (Restricted Density Multiple Dwelling) |
| LARD1.5 (Restricted Density Multiple Dwelling) |
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113 S Mathews St
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