SOLD! Mixed-Use Property in Boyle Heights

$1,200,000

3010 East 1st St

# of Units: 8

Current/Pro Forma GRM: 13.16/8.10

Current/Pro Forma CAP:
4.77%/9.14%

Price/SF: $275

Building SF: 4,356

Lot SF: 7,491

Zoning: LAC2 - CUGU

Year Built: 1931

Description​​​

A mixed-use property located in Boyle Heights across from Evergreen Cemetery. Built in 1931 the property consists of a restaurant and six apartment units on three separate structures totaling 4,356 SF. Five of the apartments are one-bedroom each and there is one studio apartment behind the restaurant. All tenants are long-term, and rents are significantly under market, making this an excellent value-add opportunity in a burgeoning neighborhood. This is an ideal acquisition for an investor looking for a repositioning project in a popular location with great promise.

 

Location

Located in Boyle Heights between E Cesar Chavez and Whittier Blvd. Nearby points of interest include Metro Gold Line, La Monarca Bakery, Evergreen Recreation Center, Boyle Heights Museum, and Benjamin Franklin Library. This pocket attracts renters from various employment centers and universities like Keck USC Medical Center, White Memorial, DTLA, East College, FIDM, and others. Plus the 5,10, 60, and 101 FWYs all intersect in Boyle Heights. 

Property Highlights

  • Mixed-Use Building Property 4,356 SF

  • Three Separate Buildings on 1 Parcel

  • Popular Restaurant Occupies Two Spaces Appx. 1,500 SF

    • MTM Lease​

  • Six Apartment Units

    • Five1 BR Units​

    • One Studio Unit

  • One Unit Currently Vacant 

  • Two Water Meters

    • New Sewer Line for Rear Structure

  • Located on 1st - a MAJOR thoroughfare in Boyle Heights

  • 81 (Walk Score) *Walker's Paradise*

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