For Sale
Condo
MLS# AR26194839
2505 Chelsea
Los Angeles, CA 90033
$699,000
- 2,478Sq Ft
- 1924Built
- $282Per Sq Ft
Los Angeles, CA 90033
$699,000
Unmatched Value-Add Density Expansion in Boyle Heights! Located blocks from the Keck School of Medicine of USC Hospital, this unique corner-lot residential income property features 5 detached/semi-detached 1BD/1BA units on an expansive ±7,971 SF parcel. Perfect for a 1031 exchange or seasoned developer looking to skip the municipal red tape: LADBS plan checks are already completed for 2 brand-new, 2-story detached units (892 SF & 894 SF). While the 5 existing character units built in 1924 offer consistent historical occupancy under LARSO, the 2 new construction units qualify for full Costa-Hawkins exemptions—bypassing legacy rent-control caps to allow immediate market-rate cash flow. Driveway access accommodates future parking allocations seamlessly. Transform this asset from a stable 2.93% current cap into a massive 10.4% projected stabilized return. Sold "As-Is" with all plans and engineering conveyed at close.
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Listed by Carmen Martinez, Compass
Abrams Coastal Properties has intimate knowledge of Coastal Orange County and is dedicated to giving unbeatable service to its clients.
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