Description

PROPERTY LISTED WITH ADJACENT QUADRUPLEX AT 2710 NEW JERSEY STREET, OWNER PREFERS TO SELL BOTH LOTS TOGETHER... 2710 (4-plex) and 2714 - 2716 (duplex) New Jersey Street, two adjacent mid-century multifamily properties located in the heart of Boyle Heights. The properties, totaling 6 units, are being offered for sale individually or together, providing investors and owner-users with flexible acquisition options and multiple paths to value creation. Four of the six units are to be delivered vacant. At a combined purchase price of $1,550,000, the portfolio is offered at a 7.55% stabilized cap rate and a 9.57 GRM, equating to approximately $258,000 per unit and $293 per square foot. 2710 New Jersey Street offers ADU potential through the conversion of existing attached garage spaces, while 2714 - 2716 New Jersey Street presents redevelopment upside to further maximize the value of the underlying lot. 2710 New Jersey Street is a 4-plex built in 1968, totaling approximately 3,626 square feet of livable space. The unit mix consists of (3) two-bedroom / one-bathroom units and (1) three-bedroom / two-bathroom unit, making the property well suited for an owner-user buyer. The property will be delivered with (1) vacant 2BR/1BA unit & (1) vacant 3BR/2BA unit, offering immediate rental upside or partial owner occupancy. The building also had the sewer line repiped/lined with PVC approximately 10 years ago (per owner). It also features a 2-car enclosed garage at the front and 3 additional garage parking spaces at the rear alley. 2714 - 2716 New Jersey Street is a duplex built in 1955, comprising (2) two-bedroom / one-bathroom units totaling approximately 1,664 square feet. The duplex will be delivered completely vacant, providing investors with the ability to immediately renovate, reposition, and lease the units at market rents. Both properties feature strong in-unit amenities, including individual washer and dryer hookups, some with dedicated air conditioning units, separate water heaters, and individual gas and electric meters. Two of the units at 2710 New Jersey have been renovated, offering a balance of current income and future value-add potential. Both parcels are zoned LAR2 and qualify for residential financing, enhancing accessibility for a broad range of buyers.