2028 E 3rd St, Los Angeles, CA 90033

Property Description

2028 E 3rd St is an excellent investment opportunity in the thriving neighborhood of Boyle Heights. This massive 5,033 Sq. Ft Building comes with an exceptional unit mix of (2) 1-Bed/1-Bath, (2) 2-Bed/1- Bath, and (1) Detached 3-Bed/2-Bath house. A few blocks from the famous Mariachi Plaza, Metro Gold Line and across the river from Los Angeles' Arts District, 2028 E 3rd will come with Two units delivered tenant-ready! This offering presents an investor with the opportunity to acquire a strong cap rate of 5.82% and 11.10 GRM. Offered at only $218/Sq. Ft, this value add apartment has over 40% in rental upside. Once fully stabilized, this 5 unit apartment will operate at a 9.43% cap rate and a GRM of 7.85. Boyle Heights is a quickly growing neighborhood in Los Angeles adjacent to Downtown Los Angeles. A vibrant and culturally diverse neighborhood known for its rich history, tight-knit community, and eclectic mix of cuisines, Boyle Heights offers a dynamic blend of residential charm, thriving local businesses, and a vibrant arts scene.