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34-Units Value-Add in Boyle Heights 307 S Boyle Ave 34 Unit Apartment Building $3,400,000 ($100,000/Unit) 6.96% Cap Rate Los Angeles, CA 90033
Investment Highlights
- Offered at $100,000 per unit — 39% below the 10-year Boyle Heights average of $162,502 per unit
- There is 35 percent remaining rental upside through tenant relocation and interior renovations
- Only 6.7% of multi-family buildings are 30 units or more in the 90033 zip code
- Operating at a current 6.96% cap rate and 7.34 gross rent multiplier
- Located near a wide variety of retail, dining, cultural, fitness, and employment options across DTLA, Boyle Heights, Lincoln Heights, and Echo Park
- Long term ownership - property has been owned for 37 years, offering a rare acquisition opportunity
Executive Summary
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 34-unit apartment community located at 307-309 South Boyle Avenue. The subject property is located south of 1st Street and east of the 101 freeway.
The subject property offers easy access to Downtown LA, the Arts District, and major freeways. The neighborhood is known for its rich cultural heritage, vibrant street art, and growing culinary and arts scenes. With nearby parks, transit options, and community landmarks like Mariachi Plaza, it’s an ideal spot for urban living with a local feel.
Situated on a 14,652 square foot parcel, the property is comprised of 32 studios and two one-bedroom units with secure entrance and on-site laundry facilities. The property has 35% remaining rental upside.
307-309 South Boyle Avenue offers investors an opportunity to acquire a true value-add asset in an in-fill submarket of Los Angeles. The value-add potential along with the current in-place yield, make 307-309 S Boyle Avenue an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
The subject property offers easy access to Downtown LA, the Arts District, and major freeways. The neighborhood is known for its rich cultural heritage, vibrant street art, and growing culinary and arts scenes. With nearby parks, transit options, and community landmarks like Mariachi Plaza, it’s an ideal spot for urban living with a local feel.
Situated on a 14,652 square foot parcel, the property is comprised of 32 studios and two one-bedroom units with secure entrance and on-site laundry facilities. The property has 35% remaining rental upside.
307-309 South Boyle Avenue offers investors an opportunity to acquire a true value-add asset in an in-fill submarket of Los Angeles. The value-add potential along with the current in-place yield, make 307-309 S Boyle Avenue an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Data Room Click Here to Access
Property Facts
| Price | $3,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6.96% | Building Size | 16,488 SF |
| Gross Rent Multiplier | 7.34 | No. Stories | 2 |
| No. Units | 34 | Year Built | 1923 |
| Property Type | Multifamily | Parking Ratio | 0.12/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LAR4 | ||
| Price | $3,400,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| Gross Rent Multiplier | 7.34 |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 16,488 SF |
| No. Stories | 2 |
| Year Built | 1923 |
| Parking Ratio | 0.12/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR4 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 32 | - | - |
| 1+1 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (72)
Property Taxes
| Parcel Number | 5174-012-005 | Improvements Assessment | $350,467 |
| Land Assessment | $192,432 | Total Assessment | $542,899 |
Property Taxes
Parcel Number
5174-012-005
Land Assessment
$192,432
Improvements Assessment
$350,467
Total Assessment
$542,899
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34-Units Value-Add in Boyle Heights | 307 S Boyle Ave
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