5 Units on Corner Lot | Excellent Unit Mix! | 203 S St Louis St
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5 Units on Corner Lot | Excellent Unit Mix! 203 S St Louis St
5 Unit Apartment Building $1,100,000 ($220,000/Unit) Los Angeles, CA 90033
Investment Highlights
- Desirable Submarket of Boyle Heights in Los Angeles
- 3,976 RSF & 5,939 SF Corner Lot
- Within 1/2 Mile from Mariachi Plaza Metro Station
- Value-Add Opportunity -- Approx. 66% Rental Upside | Excellent Unit Mix - 1 (3BR + 2BA), 2 (2BR + 1BA), 2 (1BR + 1BA)
- Separately Metered for Gas & Electricity
- Built in 1965 | Ample On-Site Parking
Executive Summary
Vartanian CRE of Lyon Stahl Investment Real Estate, Inc. is excited to present a prime investment opportunity with a beautifully maintained 5-unit apartment building located at 203 S St Louis St in the rapidly developing neighborhood of Boyle Heights, Los Angeles. Situated near key attractions such as Dodger Stadium and Crypto Arena, this property is strategically positioned to benefit from the area's ongoing growth and revitalization.
Spanning a total square footage of 3,976 on a 5,939 SF lot zoned LARD2, this asset offers significant potential for value appreciation. The property features a well-structured mix of units: one 3-bedroom, 2-bath unit; two 2-bedroom, 1-bath units; and two 1-bedroom, 1-bath units. Each unit is individually metered for gas and electricity, ensuring operational efficiency and streamlined management.
The property’s excellent location provides easy access to public transportation, with bus and metro stations just a short walk away enhancing its appeal to tenants and increasing occupancy potential. Given the ongoing developments in Boyle Heights and the surrounding areas, investors can expect robust rental demand and promising returns. This investment not only offers immediate cash flow potential but also the opportunity to capitalize on a burgeoning market poised for long-term growth. Don’t miss your chance to secure a valuable asset in an increasingly desirable location.
Spanning a total square footage of 3,976 on a 5,939 SF lot zoned LARD2, this asset offers significant potential for value appreciation. The property features a well-structured mix of units: one 3-bedroom, 2-bath unit; two 2-bedroom, 1-bath units; and two 1-bedroom, 1-bath units. Each unit is individually metered for gas and electricity, ensuring operational efficiency and streamlined management.
The property’s excellent location provides easy access to public transportation, with bus and metro stations just a short walk away enhancing its appeal to tenants and increasing occupancy potential. Given the ongoing developments in Boyle Heights and the surrounding areas, investors can expect robust rental demand and promising returns. This investment not only offers immediate cash flow potential but also the opportunity to capitalize on a burgeoning market poised for long-term growth. Don’t miss your chance to secure a valuable asset in an increasingly desirable location.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$83,640
|
$21.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,509
|
$0.63
|
| Effective Gross Income |
$81,131
|
$20.41
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$34,355
|
$8.64
|
| Net Operating Income |
$46,776
|
$11.76
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $83,640 |
| Annual Per SF | $21.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,509 |
| Annual Per SF | $0.63 |
| Effective Gross Income | |
|---|---|
| Annual | $81,131 |
| Annual Per SF | $20.41 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $34,355 |
| Annual Per SF | $8.64 |
| Net Operating Income | |
|---|---|
| Annual | $46,776 |
| Annual Per SF | $11.76 |
Property Facts
| Price | $1,100,000 | Building Class | C |
| Price Per Unit | $220,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,976 SF |
| Gross Rent Multiplier | 13.15 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,100,000 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| Gross Rent Multiplier | 13.15 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,976 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.76/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,170 | 700 |
| 2+1 | 2 | $1,400 | 800 |
| 3+2 | 1 | $1,750 | 1,000 |
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Walk Score ®
Walker's Paradise (90)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 5183-011-041 | Improvements Assessment | $319,474 |
| Land Assessment | $163,283 | Total Assessment | $482,757 |
PROPERTY TAXES
Parcel Number
5183-011-041
Land Assessment
$163,283
Improvements Assessment
$319,474
Total Assessment
$482,757
zoning
| Zoning Code | LARD2 |
| LARD2 |
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5 Units on Corner Lot | Excellent Unit Mix! | 203 S St Louis St
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