Homes for sale - 3306 E 8th ST, Los Angeles, CA 90023

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW23227505

HOA Y/N No

Year Built 1922

Lot Size 5,140 Sqft

Property Description

$260K Price update! MOTIVATED SELLERS! Introducing an extraordinary investment opportunity nestled in the vibrant Boyle Heights neighborhood of Los Angeles. This mixed-use property, strategically positioned for both residential and commercial success, boasts a substantial lot size of 5,139 square feet. Comprising two separate buildings, the first encompasses a 728-square-foot salon, offering a turnkey investment with a month-to-month lease and an enticing 7% cap rate. The second building features a comfortable 2-bedroom/1-bath residence spanning 1,345 square feet. Notably, the residence includes a non-confirming studio—a hidden income potential not currently reflected in the existing revenue.

The month-to-month leases for both the salon and the residential unit provide flexibility for new owners, whether considering owner-occupation or optimizing rental terms. This property offers a unique house-hacking opportunity, allowing residents to live in the comfortable home while benefiting from the immediate income generated by the salon. Furthermore, with the potential for an SBA loan, financing options add an additional layer of appeal for savvy investors.

Priced attractively at $500 per square foot for the residential component, this property stands out in the market. Beyond its immediate income potential, the mix of commercial and residential elements positions it as a well-rounded investment with prospects for long-term appreciation. Don't miss the chance to explore this rare mixed-use gem in Boyle Heights. Contact us today to uncover the full potential of this dynamic property—perfect for those seeking a diverse investment portfolio or a distinctive house-hacking opportunity.

Developer? Tier 2 TOC bonus available.

Available separately or concurrently with neighboring property.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Zoning LARD1.5

Interior

Fireplace No

Laundry None

Exterior

Garage None

Pool None

Community Features Street Lights,Urban

Parking Type None

Total Parking Spaces 2

Private Pool No

Building

Lot Description Near Public Transit,Street Level

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5190023009

Acceptable Financing Cash,Cash to New Loan,Conventional

Listing Terms Cash,Cash to New Loan,Conventional

Special Listing Condition Standard