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The Warburton Team Brokered By EXp

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

$2,100,000

Est. payment - /mo

9,901 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26172939

HOA Y/N No

Year Built 1946

Lot Size 9,901 Sqft

Property Sub-Type Apartment

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- ADU's 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 enhancement and long-term appreciation.
Lincoln Heights continues to attract residents seeking affordable alternatives to Downtown, Echo Park, and Highland Park while remaining connected to the region's economic core. The property's central location provides convenient access to the I-5, I-10, 101, and 110 freeways, as well as Metro transit services, creating a compelling advantage for commuters and working professionals.

Location

State CA

County Los Angeles

Area 677 - Lincoln Hts

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features Driveway, None

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Lake, Urban

Total Parking Spaces 8

Private Pool No

Building

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5210012012

Energy Description 2320.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Justin McCardle Growth Investment Group Pasade 310-606-0192, DRE #01895720

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1927 Griffin AVE Los Angeles, CA 90031