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2522 Michigan Ave Los Angeles, CA 90033
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Key Details
Sold Price $1,290,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,732 sqft
Price per Sqft $345
MLS Listing ID 25499895
Sold Date 04/03/25
Bedrooms 8
Year Built 1923
Lot Size 5,466 Sqft
Acres 0.1255
Property Sub-Type Multi-Family
Property Description
We are pleased to present our newest exclusive listing in Boyle Heights (Los Angeles). The property comes with RTI plans to build (2) three-bedroom, two-bathroom ADUs in the rear of the property. The ownership has renovated all the units with new flooring, kitchens, and bathrooms, and each includes an in-unit washer/dryer. Additionally, the building has new vinyl windows. The property is leased to Section 8 tenants and provides strong income for an investor. Once the ADUs are built, the property would operate at a 13.49% CAP RATE and add tremendous value to the property.
Location
State CA
County Los Angeles
Area Boyle Heights
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Wall
Cooling None
Equipment Refrigerator, Range/Oven
Exterior
Parking Features None
Building
Story 3
Level or Stories Multi/Split
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with EXP REALTY OF CALIFORNIA INC.