Listed By:
Biridiana Robles with HomeSmart Realty Group; 323-490-2723
Address
2429 Workman Street, Lincoln Heights, CA
Price
$ 1,825,000
Property Attributes
  • MLS#DW23174361
  • TypeCommercial
  • CountyLOS ANGELES
  • CityLincoln Heights
  • AreaLincoln Hts
  • Zip90031
  • StyleMultiFamily
  • Price$ 1,825,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage6376
  • Lot Size9,897 SqFt
Data Source:
California Regional MLS (CRMLS)
Property Description

Welcome to your next lucrative investment in Los Angeles! This exceptional seven-unit multi-family property is now available and ready to generate steady rental income. Located in the vibrant community of Lincoln Heights, this property offers a fantastic opportunity. This seven unit represents an excellent investment opportunity in a thriving rental market. Perfect for investors or a family that wants to produce income and live on the property. First time on the market since 1969. Family owned and operated for 54 years. One unit has 3 bedrooms and 2 baths, two units have 2 bedrooms and 1.5 baths, the other four units are spacious 1 bedroom, 1 bath each (one of the one bedroom unit has an additional bonus room used as a 2nd bedroom). two garages, one is a 2 car garage and the other is a 1 car garage. Wonderful lot size to host with a private back yard and plenty of parking. Convenient location with easy access to Downtown L. A. , Walt Disney Concert Hall, Chinatown, Crypto.com Arena, Dodger Stadium, CAL State LA, Metro link, freeways (5,60,110,10,101), DMV, private and public schools, Los Angeles Medical Center, Keck School of Medicine of USC, Nightlife, Public transportation. Many Landmarks near, Lincoln Park Historic district, Los Angeles State Historic Park that host many events, Elysian Park, San Antonio Winery, The Brewery Art Colony, Heritage Square Museum. Walking distance to shopping stores, library and restaurants, perfect for outdoor dining.

Price History
9/18/2023 Listed $1,825,000

General Features

Exclusions all personal property
Year Built 1914
Property SubType MultiFamily
County Los Angeles
Net Operating Income 93090.0
Operating Expense 16650.0
Insurance Expense 700.0
New Construction No
Property Type CommercialSale
HOA / Comm Assn No
Attached Garage No
MaintenanceExpense 1800.0
Garage Y/N No
Special Listing Conditions Trust
Status Active
Directions North Broadway and Workman ST.
City Lincoln Heights
View Y/N No
Senior Community Y/N No
Total Units 7
MLS Area 677 - Lincoln Hts
Lot Size Square Feet 9899.0
Private Pool No
Waterfront Y/N No
Carport Y/N No
Street Name Workman
Property Attached Y/N No
Land Lease Y/N No
Home Warranty Y/N No
Trash Expense 1000.0
Water Sewer Expense 7400.0
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 21
Building Area Units SquareFeet
Standard Status Active
Occupancy Description Owner
Property Sub Type Additional MultiFamily
Cap Rate 4.9
MobileHomeRemainsYN No

Interior Features

Total Stories 2
Basement (Y/N) No
Air Conditioning Y/N No
Heating Y/N No
Fireplace Y/N No
Street Suffix Street
Laundry Features InGarage
Entry Level 1
Electric On Property Y/N No
LivingAreaSource Assessor

Exterior Features

Lot Features Item01UnitAcre
Water Source Public
Lot Size Area 9899.0
Spa No
Building Area Total 6376.0
Lot Size Acres 0.2272
Lot Size Units SquareFeet
Lot Size Source Assessor
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 90031

Price
AVG $3.11M
$1.83M
Visits
AVG 57
196
Data Provided by Inside Real Estate®
Year Built
AVG 1948
1914