121 S Gless Street
Los Angeles
90033
$1,700,000
Residential Income
beds: 19
baths: 10.0
5,360 sq. ft.
built: 1924
- Status:
- Active
- Prop. Type:
- Residential Income
- MLS® Num:
- 26650115
- Bedrooms:
- 19
- Bathrooms:
- 10
- Year Built:
- 1924
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We are pleased to present 121 S Gless Street, a value add 10-unit investment opportunity located in the Downtown-adjacent neighborhood of Boyle Heights. The property is comprised of an excellent unit mix of (9) 2 bed / 1 Bath units and (1) 1 Bed/1 Bath unit. There are currently five (5) Section 8 tenants in place, with vouchered 2 bedroom rents currently ranging from $2,015 to $2,504. There are five units that are significantly below market, offering major upside upon turnover. Section 8 Voucher Payment Standards (per HACLA) are currently at $2,887 for 2-bedroom units as of 1/2026. The property will be delivered fully occupied with a gross monthly income of $15,101, or $181,212 annually. The opportunity will yield a strong immediate annual return with approximately 49% remaining rental upside.121 S Gless Street is centrally located less than a mile from Arts District and Downtown LA with convenient access to the 101, 10, and 5 freeways, USC Keck Hospital, and Cal State LA.
- Total Floor Area:
- 5,360 sq. ft.
- Lot Area:
- 6,997 sq. ft.
- Bedrooms:
- 19
- Full Bathrooms:
- 0
- Three Quarter Bathrooms:
- 0
- Half Bathrooms:
- 0
- One Quarter Bathrooms:
- 0
- Bathrooms:
- 10.0 (Full:0, Half:0)
- Year built:
- 1924 (Age: 102)
- General Listing Location:
- Los Angeles, BOYH - Boyle Heights
- County Or Parish:
- Los Angeles
- Gross Income:
- $181,212
- Net Operating Income:
- $115,883
- Cap Rate %:
- 6.82
- Rent Control:
- Yes
- Vacancy Allowance:
- $5,436
- Vacancy Allowance Rate:
- $3
- 1st Street and S Gless St
- Appliances:
- Refrigerator
- Number of Buildings:
- 4
- Senior Community:
- No
- Levels:
- Multi/Split
- Num Stories:
- 2
- New Constr.:
- No
- # Units:
- 10
- Heating:
- Wall Furnace
- Total Parking Spaces:
- 0
- Parking Features:
- None
- Special Listing Conditions:
- Standard
- Parcel Number:
- 5172004025
- Zoning:
- LARD3
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Listed by Lyon Stahl Investment Real Estate, Inc.
Data was last updated March 13, 2026 at 04:40 PM (UTC)
- BILLY LONG
- 1 (310) 663-1177
- Contact by Email
Based on information from California Regional Multiple Listing Service, Inc. as of March 13, 2026 at 04:40 PM (UTC) and/or other sources.
All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS.
All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.