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234 N Chicago St 22 Unit Apartment Building $2,850,000 ($129,545/Unit) 7.93% Cap Rate Los Angeles, CA 90033
Investment Highlights
- 10% Cash on Cash
- Separately metered for electricity
Executive Summary
This 22 unit apartment building located in the heart of Boyle Heights offers a nearly 10% Cash of Cash on Actuals. The unit mix consists of 2 Bachelors, 14-Singles, and 6-1+1. The building is separately metered for electricity and master metered for gas.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$383,532
|
$28.54
|
| Other Income |
$1,620
|
$0.12
|
| Vacancy Loss |
$19,177
|
$1.43
|
| Effective Gross Income |
$365,975
|
$27.23
|
| Taxes |
$35,625
|
$2.65
|
| Operating Expenses |
$104,393
|
$7.77
|
| Total Expenses |
$140,018
|
$10.42
|
| Net Operating Income |
$225,957
|
$16.81
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $383,532 |
| Annual Per SF | $28.54 |
| Other Income | |
|---|---|
| Annual | $1,620 |
| Annual Per SF | $0.12 |
| Vacancy Loss | |
|---|---|
| Annual | $19,177 |
| Annual Per SF | $1.43 |
| Effective Gross Income | |
|---|---|
| Annual | $365,975 |
| Annual Per SF | $27.23 |
| Taxes | |
|---|---|
| Annual | $35,625 |
| Annual Per SF | $2.65 |
| Operating Expenses | |
|---|---|
| Annual | $104,393 |
| Annual Per SF | $7.77 |
| Total Expenses | |
|---|---|
| Annual | $140,018 |
| Annual Per SF | $10.42 |
| Net Operating Income | |
|---|---|
| Annual | $225,957 |
| Annual Per SF | $16.81 |
Property Facts Under Contract
| Price | $2,850,000 | Property Subtype | Apartment |
| Price Per Unit | $129,545 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.93% | Lot Size | 0.21 AC |
| Gross Rent Multiplier | 7.4 | Building Size | 13,440 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1928 |
| Zoning | R4, Los Angeles | ||
| Price | $2,850,000 |
| Price Per Unit | $129,545 |
| Sale Type | Investment |
| Cap Rate | 7.93% |
| Gross Rent Multiplier | 7.4 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 13,440 SF |
| No. Stories | 2 |
| Year Built | 1928 |
| Zoning | R4, Los Angeles |
Amenities
Unit Amenities
- Heating
- Kitchen
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | - | 400 - 450 |
| 1+1 | 6 | - | 650 - 790 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5183-003-022 | Total Assessment | $2,302,482 |
| Land Assessment | $947,036 | Annual Taxes | $35,625 ($2.65/SF) |
| Improvements Assessment | $1,355,446 | Tax Year | 2025 |
Property Taxes
Parcel Number
5183-003-022
Land Assessment
$947,036
Improvements Assessment
$1,355,446
Total Assessment
$2,302,482
Annual Taxes
$35,625 ($2.65/SF)
Tax Year
2025
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234 N Chicago St
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