505 S Chicago Street

Property Overview

We are pleased to present 505 S. Chicago Street, a five (5) unit multifamily investment opportunity in the heart of Boyle Heights. Comprised of two separate two-story structures, this wood-frame and stucco building sits on a raised foundation and offers 4,902 SF of living space on a 7,500 SF lot. Originally built in 1905, the property has been reinforced and upgraded to comply with the latest city codes and regulations, giving a new owner a well-maintained asset with lasting character. The building features a strong unit mix of three 2-bed / 1.5-bath units and two 2-bed / 1-bath units, all with spacious floor plans. The property is 100% occupied and subject to the City of Los Angeles Rent Stabilization Ordinance. Additional features include five on-site parking spaces and individual gas and electric metering, keeping operating costs low for ownership. Current gross income is $7,642 per month, priced at a 7.0% cap rate and 10.8x GRM, with approximately 50% upside in potential rents. With its prime location, attractive local amenities, and significant room to grow rental income, this is a rare opportunity to acquire a premier, income-producing asset in one of LA's most dynamic and appreciating submarkets.

Home Details

Property type: Residential Income
Year built: 1905
Living area: 4,902 sq ft
Lot size: 7,465 sq ft
Parking: 5 spaces
Stories: 2
Days on market: 81
MLS status: Active
Zoning: LARD1.5

Features & Amenities

Appliances

Refrigerator
Dryer
Washer

Parking

Private

Location & Neighborhood

Los Angeles, CA 90033

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Frequently Asked Questions About 505 S Chicago Street

Property type: Residential Income

The current asking price is $995,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.

Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 505 S Chicago Street. Our team will confirm availability and timing.

This 10 bedrooms and 5 bathrooms property offers approximately 4,902 square feet of living space. It was built in 1905. Review the listing details and disclosures, then independently verify material features before making a decision.

The property is in Los Angeles, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.

Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Los Angeles property.

The MLS currently reports the property as Active. It has been listed for 81 days. Status can change, so verify availability before relying on it.