312 Mathews StLos Angeles, CA 90033

Property Details for 312 Mathews St

Year built

1925

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

9,726 SF

Zone code

LAR3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5180-008-001

APU

5180008001

Description

This exceptional 10-unit multifamily property, located at 312 North Mathews Street in Los Angeles, CA 90033, presents a compelling redevelopment or value-add investment opportunity. The property consists of an eight-unit apartment building and two single-family homes situated on a 9,372 square foot lot. Built in 1925, the property features three buildings with two stories each, totaling 9,372 square feet and offering 9,726 square feet of net rentable space. Currently generating a Net Operating Income (NOI) of $144,987, resulting in a 5.36% cap rate, the property offers significant upside potential. A pro-forma NOI of $269,103 and a pro-forma cap rate of 9.61% illustrate the potential for increased profitability through renovations or redevelopment. The asking price is $2,800,000, or $280,000 per unit. Individual gas and electric meters for most units contribute to favorable cash flow. The property's prime location in Boyle Heights, near downtown Los Angeles, freeways, Cal State Los Angeles, and Metro transit, ensures strong rental demand. The Los Angeles County Assessor's Parcel Number (APN) is 5180-008-001. This offering is suitable for a 1031 exchange. This is a rare chance to acquire a multifamily property with substantial upside in a rapidly appreciating Los Angeles neighborhood.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0449

Longitude

-118.207

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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