121 S GLESS ST, LOS ANGELES, CA 90033

Property Description

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.