2531 Folsom St, Los Angeles, CA 90033

Nov 2

Written By Jake Glaser

2023 Construction 4-Plex in Boyle Heights

Sold: $1,575,000

$393,750/Unit

$286.89/SF

8.23% Cap Rate

9.51 GRM

The Deal Story

CLOSING #25 OF THE YEAR

Sale Price: $1,575,000

Units: 4

Property Type: Newly built (2023) 4-plex; two duplex structures, each with two townhome-style units

Unit Mix: (4) 3-bed / 3.5-bath units

Buyer Type: Local investor with a growing portfolio in the Boyle Heights neighborhood

Seller Situation: Independent owner diversifying out of multifamily investments; self-managed the property

Result: Closed with property fully occupied; standard escrow

Special Features: Newly constructed (2023). Subject to RSO.

Case Study Summary
This newly built 2023 Boyle Heights 4-plex, comprising 5,490 SF across two duplex structures with townhome-style units, closed for $1,575,000. The property delivered fully occupied with strong unit economics: each unit features 3 bedrooms, 3.5 bathrooms, and approximately 1,373 SF. Tenants benefit from separately metered utilities and access to a fully paid solar system with rebate programs, lowering operating costs.

The seller, an independent owner self-managing the property, was looking to diversify out of multifamily investments and redeploy capital elsewhere. We identified a local investor with a growing Boyle Heights portfolio as the ideal buyer and buyer’s intent to hold and operate the asset long-term. The Glaser Group represented both sides and managed a smooth close.

Property Highlights

New construction fourplex in Boyle Heights built 2023
Strong unit mix comprised of four 3BR / 3.5BA units
Fully occupied with market rate tenants providing strong cash flow to investors
Units average over 1,300 SF each and have in-unit W/Ds
Separately metered for gas, electric, and water
Each unit has two parking spaces with electric gates
Solar panels on the roof are fully paid off and lower tenant utility responsibility through a rebate program
Very low expense-load property
Near major freeway entrances providing immediate access to DTLA, East LA, and more
Close to Dodger Stadium, Crypto Arena, and LA Live
Property is rent controlled under LA RSO