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$2,100,000
Est. payment /mo
1 Bed
2 Baths
9,902 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26172939
Bedrooms 1
Lot Size 9,902 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Take a look at this this unique opportunity positioned in the heart of Lincoln Heights. One of Los Angeles' fastest-evolving urban neighborhoods, this 15-unit apartment community presents investors with an exceptional opportunity to acquire a well-located multifamily asset in a high-demand rental corridor. Situated just minutes from Downtown Los Angeles, the property benefits from strong tenant demand driven by its proximity to major employment centers, transportation hubs, educational institutions, and ongoing neighborhood revitalization. This building offers investors the opportunity to capitalize in a submarket experiencing increasing investment activity and redevelopment. The Griffin apartments have a nice unit mix with 8-1 bedrooms units, and 7 studios situated in 3 separate buildings with an estimated 48% upside in rent. The rear building is located above garages which presents the opportunity to earn additional garage income or take advantage of the plans to build 3- ADUs the existing ownership has! The properties attractive layout and size create for an ease of management as well as no on-site manager. All units are individually metered for Gas/ Electricity, and the property has onsite laundry. With Lincoln Heights proximity to DTLA, it allows for tremendous upside in rents and appreciation. This building has an attractive price per unit, and substantial upside, will be a great addition to any portfolio! Whether operated as a stable income-producing asset or repositioned through strategic unit upgrades, the property presents significant potential for revenue enhance
Location
State CA
County Los Angeles
Zoning Assessor
Direction South of Broadway and North of Main
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5210012012
Acceptable Financing Cash
Listing Terms Cash
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Listed by Justin McCardle, DRE#01895720 Growth Investment Group Pasade
Nearby School & Business
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