Joe Cloninger

Partner, Sales/Marketing License ID: 01954784

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$ 1,575,000

$ 1,700,000 7.4%

Est. payment | -/mo

12 Beds

14 Baths

5,490 SqFt

$ 1,575,000

$ 1,700,000 7.4%

Est. payment | -/mo

12 Beds

14 Baths

5,490 SqFt

Key Details

Sold Price $1,575,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 5,490 sqft

Price per Sqft $286

MLS Listing ID 26640525

Sold Date 08/31/26

Style Contemporary

Bedrooms 12

Year Built 2023

Lot Size 6,998 Sqft

Acres 0.1607

Property Sub-Type Multi-Family

Property Description

Newly built 2023 construction 4-Plex in the heart of Boyle Heights. The 5,490 SF property consists of two separate duplex structures, each with two townhome style units. Each of the four huge townhome units is comprised of 3 bedrooms and 3.5 bathrooms, and the units average 1,373 square feet each. Plus each bedroom has its own en-suite bathroom. Tenants pay for all of their own utilities with four separate gas, water & electric meters, and there are fully paid off solar panels on the roofs. Tenants also subscribe to a solar rebate program, vastly lowering their monthly utility expenses. Each of the units has been thoughtfully designed with designer finishes, high-end fixtures, LVP flooring & stainless steel appliances. Every unit also includes a laundry closet on the upstairs landing with washer/dryer hookups. There are a total of eight uncovered parking spaces, with six in the back and two in the front, providing two parking spaces for each unit. The parking areas are secured by electric gates as well. The property is currently fully occupied, and it is subject to LA City rent control under RSO. Offered at an attractive 7.54% cap rate and only $309/SF, 2531 Folsom presents an extremely attractive offering for multifamily investors looking for Day 1 cash flow from a newly built asset.

Location

State CA

County Los Angeles

Area Boyle Heights

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Central

Cooling Central

Fireplaces Type None

Equipment None

Laundry In Unit, On Upper Level

Exterior

Parking Features Uncovered

Garage Spaces 8.0

Building

Story 2

Architectural Style Contemporary

Level or Stories Two

Others

Special Listing Condition Standard

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Listed by Lyon Stahl Investment Real Estate, Inc.
Bought with Lyon Stahl Investment Real Estate, Inc.