505 S Chicago Street, Los Angeles, CA 90033

• 4,902 sqft

Property Description

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.

Listing Status:

Active

Date Added:

June 19, 2026

Data Last Updated:

July 5, 2026 at 12:08AM

Listing Office:

Keller Williams Hollywood Hills : 310-623-1300

Listing Agent:

Davis Saadian : 310-402-8958

MLS ID:

CL26849701

Interior

• Appliances: Dryer
• Laundry: DryerWasher

Exterior

• Parking: Private

Location

• County: Los Angeles

Lot

• Zoning: LARD1.55183019014