608 Breed St Los Angeles, CA 90033
- Commercial real estate
- 3,330 SF
Current Use by Public Records
- Commercial real estate
Property Details for 608 Breed St
- Year built
- 1908
- Property size
- 3,330 SF
- Property type
- Commercial real estate
Description
This exceptional four-unit apartment building, located at 608 N Breed St in Los Angeles, CA 90033, presents a compelling investment opportunity in the desirable Boyle Heights neighborhood. Built in 1908, the property boasts a total of 3,330 square feet situated on an 8,249 square foot lot. Currently generating a Net Operating Income (NOI) of $64,173, resulting in a 5.70% cap rate, this property offers significant potential for increased profitability. A pro-forma cap rate of 9.09% indicates substantial upside. The asking price is $1,125,000, translating to $281,250 per unit and $337.84 per square foot. The property's unit mix allows for substantial rental upside. Furthermore, the property features ample space in the rear, presenting the possibility of adding an Accessory Dwelling Unit (ADU), further enhancing its value and rental income. This prime Boyle Heights location offers investors a rare chance to acquire a well-positioned multifamily property with considerable growth potential. The property is classified as Multifamily and Mixed Use.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.2061281
- Latitude
- 34.0515026
