Sold – 701 N Evergreen Ave

Overview

Type
Sqft.
7,312.00
sqft.
Price Per Sqft.
$
111.46
CAP Rate
8.84
%
Lot Size
4,668.00
sqft.

Description

Rosano Partners is pleased to present the opportunity to acquire a mixed-use property located in Boyle Heights. Built in 1926 the subject property offers an excellent unit mix of 3 two-bedroom one-bathroom units, 1 three-bedroom two- bathroom units, 1 single, 1 one-bedroom one-bathroom units, and 1 retail tenant. Current rents are more than 11% below market rate, and each unit has their own washers and dryers. Gas, and electricity are separately metered while water is mastered. This two-story building identifies the perfect opportunity for a savvy investor to bring value to the building by renting out the vacancies, and bringing cosmetic improvements to the property that is home to the locally famous Ciros restaurant.

Location Features
The subject property resides across the street from Assumption Middle School, and is walking distance from Cesar E.Chavez Avenue, a street known for its hub of entertainment, markets, and shopping. The property is situated in Boyle Heights on the intersection of North Evergreen Avenue and Malabar Street, close to the intersection of the 10-freewayand 5-freeway.


Managing Agent

Edward G. Caballero

Senior Associate, Multi-Family Investment Sales
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