Est. cap rate

2.4%

Assumed rent, all units

$3,640/mo

Units

2

Price per unit

$449,500

Est. annual NOI

$21,840

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Duplex

Bedrooms

3

Building size

2,004 sqft

Lot size

6,326 sqft

Year built

1900

Stories

1

Garage spaces

1

Cooling

Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

13

MLS #

247903919

About this property

DELIVERED VACANT AT CLOSE—LIVE IN THE FRONT AND EXPLORE RENTAL INCOME POTENTIAL IN THE BACK! Situated on a corner lot in Boyle Heights, 1601 Pennsylvania Avenue presents an exciting opportunity for owner-occupants and value-add investors. Move into the 3 bed + 2 bath front house and explore how rental income from the two rear 1+1 accommodation could help offset your mortgage and ownership expenses. Reported as a duplex, the property features a front residence and a rear residential building on an approximately 6,300-square-foot lot with 2004 livable square foot. Vacant delivery gives buyers flexibility to plan improvements, personalize their home, and pursue a rental strategy without taking over existing tenancies. The rear unit has been divided into two separate living spaces without permits, offering buyers an opportunity to investigate legalization or reconfiguration, subject to City approval. A detached garage with existing plumbing provides another possibility for a future ADU conversion, subject to applicable requirements and permits. Please don't walk the property without setting up an appointment. Whether you’re seeking a primary residence with supplemental income potential or an investment with room for improvement, this property offers a compelling starting point. Bring your vision, your contractor, and your plans to build long-term equity! Property will be delivered vacant at close of escrow. Represented as a duplex, not a permitted triplex. Buyer to independently verify square footage, permitted unit count, zoning, lawful rental use, and feasibility of legalization or ADU conversion. Additional units and rental income are not guaranteed; rent may not cover the mortgage or ownership expenses.

Location

1601 Pennsylvania Avenue

Los Angeles, Los Angeles, CA, 90033