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 three (3) Section 8 tenants in place, with vouchered 2 bedroom rents currently ranging from $2,133 to $2,241. There are five units that are significantly below market, offering major upside upon turnover. Section 8 Voucher Payment Standards (per HACLA) are currently at $2,475 (Tier 2) for 2-bedroom units as of 9/2026. The property will be delivered fully occupied with a gross monthly income of $14,405, or $172,865 annually. The opportunity provides a strong immediate annual return with approximately 56% 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. Boyle Heights has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Arts District, USC, and the industrial hubs of Vernon and Commerce. With an excellent walkscore of 87, 121 S Gless Street sits in the center of a cultural hub with convenient access to employment opportunities, local retail and restaurants, national grocers, hospitals, high schools and universities.