Iconic is pleased to announce the sale of The Cincinnati Apartments at 2531 Cincinnati St. in Boyle Heights.
► All Legacy Tenants / Rents from $800 - $1,250
► Minimal Due-Diligence Documents / No Leases
► Building Requires Extensive Renovation - $300,000+
► (4) 1-Bedroom Units + (1) 2-Bedroom House
► Sold at 13.62 GRM and a 3.7% CAP Rate
► All-Cash Offer / 30-Day Close of Escrow
► Marketed to the Entire Brokerage Community Day-1
► 12 Buyer Groups Toured the Property
► 7 Competitive Offers
THE SELLER has owned the property since 1964 (55 years) and elected to pay the taxes.
THE BUYER owns other properties in Boyle Heights and intends to extensively renovate the property.
