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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$3,880,000

Est. payment - /mo

0.31 Acres Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID WS26018859

HOA Y/N No

Year Built 1970

Lot Size 0.309 Acres

Property Sub-Type Apartment

Property Description

Don't miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate.
Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. Existing assumable loan with an attractive 3% interest rate. Approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.

Location

State CA

County Los Angeles

Area 677 - Lincoln Hts

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Tile

Fireplaces Type None

Fireplace No

Appliance Free-Standing Range, Water Heater

Laundry Common Area

Exterior

Parking Features Carport, One Space, Uncovered

Carport Spaces 19

Fence None

Pool None

Community Features Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Available, Water Available

View Y/N No

View None

Roof Type Flat

Total Parking Spaces 19

Private Pool No

Building

Lot Description 21-25 Units/Acre

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5206009017

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard

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Listed by ANDY DENG DENGO INVESTMENT INC. 626-589-5008, DRE #01297692

NEARBY SCHOOL & BUSINESS

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2614 Griffin AVE Los Angeles, CA 90031