131 S BOYLE Ave, Los Angeles, CA 90033

Property Description

Price Reduction! Asking under 10XGRM. Seller is in an exchange and has found their upleg. The Simon Francois Gless Farmhouse on Boyle Avenue is a Los Angeles historic Cultural Monument. The Queen Anne-style built in 1887 is now a 15 room SRO. It was the first house in Boyle Heights. It sits on a large lot (10,170 sq. ft.) less than a block from the Mariachi Plaza Metro Station. Long term tenants and never a vacancy . Six of the units have their own kitchens and there is a common area kitchen on the first floor. There are 2 bathrooms and 2 showers on the first floor and 2 bathrooms and 2 showers on the second floor. There is a new roof. There is a large attic with a great view of downtown Los Angeles that can be made into an office. Buyer to do own investigation into Mills Act eligibility to reduce property taxes. Rents can be increased (5/16) 5%. Close to large mixed use project on the corner of First Street and Boyle Avenue.