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23473867
23473868

2437 Houston, Los Angeles, CA 90033

SG
CA 02194905
BURNWOOD
Listed by BURNWOOD
$1,550,000
378 days on market
Updated 36 days ago

2437 Houston St

Details
APN 5177016020
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,984
Units 6
Cap Rate 2.46%
NOI $38,100
Occupancy 100%
Price per SqFt $519
Class A
Year Built 1913
Year Renovated 2
Buildings 2
Stories 1
Acreage 0.161
Zoning Public Rec
Investment Type Stabilized
Occupancy Date 12/02/2025

Turnkey 4-Unit with ADU Opportunity

Marketing description

Welcome to 2437 Houston Street, an exquisitely remodeled four-unit investment property located in the heart of Boyle Heights. This modernized bungalow-style compound offers both strong income potential and unbeatable flexibility, highlighted by its unique flex-unit configuration that allows the front building's two 3-bedroom/2-bath units to legally convert into four fully functional 1-bedroom/1-bath units. Whether you're seeking maximum cash flow or long-term equity growth, this rare setup caters to multiple strategies and tenant demographics. Exterior Aesthetic & Livability The exterior courtyard is finished with custom modern pavers, gated privacy fencing, and mature landscaping. The clean white stucco, updated dual-pane windows, and minimalist design give the property a polished, modern appeal while preserving its architectural charm. Although no off-street parking is included, the ample street parking and central location more than compensate. Modern Interiors & Design Each unit is beautifully renovated, blending crisp contemporary finishes with timeless warmth. Step inside to find dark hardwood flooring, tall 9-foot ceilings, and open-concept layouts that allow natural light to pour in. Kitchens are outfitted with marble countertops, modern fixtures, and a full suite of appliances, including in-unit washer/dryer, dishwasher, range/oven, and refrigerator. Bathrooms boast elegant finishes with rainfall shower heads, floating vanities, and custom tile work for a sleek, spa-like experience. Every room is equipped with individual mini-split AC and heater systems,

Investment highlights

Unit Configuration & Flex Rental Options:

The property includes two spacious front-facing 3-bedroom, 2-bathroom units—each fully permitted for legal division into two 1-bedroom, 1-bathroom units. This provides the investor with dual options: rent them as large family-style residences or convert to four 1-bedroom units for increased total rental income.

At the rear of the property are two newly remodeled 1-bedroom, 1-bathroom units that are vertically stacked. These rear units are well-separated from the front structure and feature private entries, high ceilings, and contemporary interiors that match the main units in quality and finish.

Currently, the rear 1-bedroom units are rented at:

  • $2,161/month

  • $2,055/month

Proforma projections:

  • Front units as 3b/2b: $3,500 each

  • Front units as 1b/1b (if split): $2,161 each x 4

Configuration Option 1 – Traditional Format

  • 2 Front Units: 3 Bed / 2 Bath | Proforma Rent: $3,500 each

  • 2 Rear Units: 1 Bed / 1 Bath | Current Rents: $2,161 and $2,055

Configuration Option 2 – Flex Format

  • 4 Front Units: 1 Bed / 1 Bath (converted from 2 large units) | Proforma Rent: $2,161 each

  • 2 Rear Units: 1 Bed / 1 Bath | Current Rents: $2,161 and $2,055

Proforma Rent (Traditional): $11,216/month

Proforma Rent (Flex Configuration): $12,860/month

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Listing Contacts

SG
CA 02194905
BURNWOOD
Listed by BURNWOOD

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$38,100.00
$3,175.00/mo

Valuation Metrics

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DSCR
2.46%
Cap Rate
2.46%
ROI

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Additional Information

Name
Steven W. Gray
License
02194905
Brokerage
exp of greater los angeles
Brokerage Phone
888.584.9427
Title
Broker
Brokerage Address
303 North Glenoaks Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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