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505 S Chicago St, Los Angeles, CA 90033
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505 S Chicago St Los Angeles, CA 90033

$1,125,000
  • 10 Beds
  • 5 Baths
  • 4,902 Sq.Ft.
For Sale
$1,125,000 Get Pre-Qualified
Map preview of 505 S Chicago St, Los Angeles, CA 90033

Property Overview: 505 S Chicago St Los Angeles, CA has 10 bedrooms, 5 bathrooms, 4,902 living square feet and 7,465 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to offer for sale this five (5) unit multifamily investment opportunity located at 505 S. Chicago Street, in Boyle Heights. This two-story building, consisting of two separate structures, was constructed of wood frame and stucco on a raised foundation built in 1905 with a square footage of 4,902 on a 7,500-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of three (3) 2+1.5 units, and two (2) 2+1 units. The subject property is 100% occupied and is subject to the City of Los Angeles rent control regulation. The investment boasts spacious floor plans, five (5) on-site parking spaces, and individually metered for gas and electricity.

Listed by Davis Saadian | BRE #01921748 | Carolwood Estates
Last checked: 8 minutes ago | Last updated: April 11th, 2024 | Source CRMLS | DOM: 33
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Home details

Lot Sq. Ft
7,465
HOA Dues
$0/mo
Year built
1905
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24375637
City
Los Angeles
County
Los Angeles
Time on Site
43 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,820
  • Total Rent: $1,820
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,477
  • Total Rent: $1,477
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,924
  • Total Rent: $1,924
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $979
  • Total Rent: $979
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $930
  • Total Rent: $930
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.58%
  • Gross Rent Multiplier: 13.15
  • Gross Scheduled Income: --
  • Net Operating Income: $62,760
  • Gross Operating Income: $85,560
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 505 S Chicago St

Interior Features
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
  • Has Parking
Property Information
  • Total # of Units: 5
  • Parcel Number: 5183019014
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 505 S. Chicago Street, Los Angeles, CA 90033
View more facts & features

Local Los Angeles Agent

Sale History for 505 S Chicago St

Last sold for $770,000 on December 13th, 2016

  • April, 2024

  • Apr 3, 2024

    Date

    Active

    CRMLS: 24375637

    $1,125,000

    Price

  • December, 2016

  • Dec 13, 2016

    Date

    Sold (Public Records)

    Public Records

    $770,000

    Price

  • May, 2016

  • May 4, 2016

    Date

    Sold (Public Records)

    Public Records

    $970,000

    Price

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Tax History for 505 S Chicago St

Assessed Value (2020): $817,129
Year Land Value Improved Value Assessed Value
2020 $371,422 $445,707 $817,129

Home Value Compared to the Market

This property vs the competition

505 S Chicago St is listed 9.93% lower than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $229.5 per/sqft which puts the price per square foot 70.35% lower than the median price per square foot for the city of Los Angeles.

About 505 S Chicago St

Detailed summary of property

505 S Chicago St is a multi family located in Los Angeles, CA 90033 and is currently for sale. This multi family property offers 10 bedrooms, 5 bathrooms, roughly 4,902 living square feet, and sits on an approximately 7,465 square foot lot. 505 S Chicago St was first listed on ArdentRealEstateGroup.com on April 3, 2024. The homeowner is currently asking $1,125,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 9.93% lower than the median priced home. Local competing homes currently for sale include 548 S Lorena St, 3412 E 3rd St and 2814 Wabash Ave. While the average home in Los Angeles, CA is selling in 94 days, 505 S Chicago St has a days on market of 33 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 505 S Chicago St Los Angeles, CA 90033 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 505 S Chicago St

Public county record property details
Beds
10
Baths
5
Year built
--
Sq. Ft.
4,902
Lot Size
7,463
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
14
APN
5183-019-014

The source for these homes facts are from public records.

90033 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$778,000
Median List Price/Sq.Ft.
$520
Median Sold Price
--
Median Sold Price/Sq.Ft.
--
Total Inventory
12
Median Sale to List Price %
--
Avg Days on Market
--
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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