116 S Mathews Street
Los Angeles, CA 90033
- – beds
- – baths
- – sqft
- 8,388 sqft lot
- 1925 build
- – on site
PROPERTY OVERVIEW - As the exclusive listing agent, we are pleased to present the opportunity to acquire Mathews Apartments, a 18-unit multifamily property located in the highly sought-after Boyle Heights submarket of Los Angeles. This property is ideally positioned near major landmarks and offers a living experience in one of the city’s most vibrant and up-and-coming neighborhoods. Originally constructed in 1925, the property sits on an 8,388 SF corner lot and features a building footprint of 10,478 SF, zoned LARD 1.5. THE OPPORTUNITY - Mathews Apartments presents an exceptional opportunity to acquire a multifamily asset in Los Angeles’ competitive Boyle Heights rental market, with significant upside potential through value-add opportunities. The property consists entirely of one-bedroom units, making it a versatile investment for a wide range of tenants. This well-maintained building offers secured access and sits on a desirable corner lot, providing excellent frontage in a growing neighborhood. The property presents an attractive cost per unit and cost per square foot, making it an appealing investment option for those seeking potentially strong returns and future appreciation. The current in-place GRM and Cap Rate are competitive, and with proven market rents, there is ample potential for rent increases through repositioning and further unit updates. Investors can take advantage of a great reposition opportunity to capitalize on the neighborhood’s continued growth. THE LOCATION - Mathews Apartments is located in the Boyle Heights submarket, one of Los Angeles' most historically rich and culturally diverse neighborhoods. The property sits right off 1st Street and Soto Street, offering excellent access to major thoroughfares and public transit routes, ensuring easy connections throughout Los Angeles. Boyle Heights is undergoing significant transformation, with new developments and investments shaping the area. The property’s corner lot position and proximity to local amenities, including shopping centers, dining options, and cultural landmarks, provide convenience for residents and add to the property’s overall appeal. With strong demand for rental properties in Boyle Heights and the potential for significant rental growth, Mathews Apartments offers a unique opportunity to secure an income-generating asset in a rapidly evolving area.
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Last updated Mar 25, 2025
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MLS# SR25064768 —
The Building
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Year Built:1925
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Year Built Source:Public Records
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New Construction:No
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Building Area Total:10478.00
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Building Area Units:Square Feet
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Total Number Of Units:18
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# of Buildings:3
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:18
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# of Separate Water Meters:1
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# of Separate Electric Meters:18
Interior
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Levels:Two
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Entry Location:1st
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Laundry:None
Location
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Directions:Near 1st Street and Soto
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Latitude:34.04245400
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Longitude:-118.20883900
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Zoning:LARD1.5
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Lot Features:Corner Lot
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Lot Size Area:8388.0000
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Lot Size Acres:0.1926
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Lot Size SqFt:8388.00
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Lot Size Source:Public Records
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:73
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Tax Census Tract:2043.00
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Tax Lot:5
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5180006022
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Curbs
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Pool:None
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Senior Community:No
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Private Pool:No
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/25/25
Mar 25, 2025
|
Listed / Active | CRMLS_CA | $2,500,000 |
