SELLER WANTS TO SEE OFFERS: PROPERTY OVERVIEW (All One Bedrooms / 9.17 GRM*) - 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.
For sale
Listing Provided by:
Jared Levine DRE #01804008 jared@jaredmlevine.com,
Keller Williams Realty Calabasas
Price cut: $1K (7/31)
$2,424,000
116 S Mathews St, Los Angeles, CA 90033
18beds
18baths
10,478sqft
Est.:
Mixed Use
Built in 1925
-- sqft lot
$2,378,400 Zestimate®
$231/sqft
$-- HOA
What's special
Building footprintCorner lotDesirable corner lotSecured access
- 129 days
- on Zillow |
- 89 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: July 31, 2025 at 03:18pm
Listing Provided by:
Jared Levine DRE #01804008 jared@jaredmlevine.com,
Keller Williams Realty Calabasas
Source: CRMLS,MLS#: SR25064768
Originating MLS: California Regional MLS

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 18
- Bathrooms: 18
Appliances
- Laundry: None
Features
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 10,478
- Total interior livable area: 10,478 sqft
Video & virtual tour
Property
Features
- Levels: Two
- Stories: 2
- Entry location: 1st
- Pool features: None
Lot
- Size: 8,388 Square Feet
- Features: Corner Lot
Details
- Parcel number: 5180006022
- Zoning: LARD1.5
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Mixed Use
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1925
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Curbs
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $231/sqft
- Date on market: 3/25/2025
- Listing terms: Cash,Cash to New Loan,1031 Exchange
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