Thank you
Han Chen
Growth Investment Group Pasade
626-594-4900
A 32-unit mixed-use residential/SRO/retail community in Lincoln Heights neighborhood, Los Angeles. It offers a strategic location right across from multiple major hospitals and medical centers – Los Angeles General Hospital, USC Health Science Campus, LA County Department of Medical Examiner, and other health science related industries. It offers high CAP Rate of 6.14% and Cash-on-cash return of ±8.93% (buyer to verify). The property was built in 1926 and subject to the City of Los Angeles Rent-Stabilization ordinance. It sits on 2 parcels totaling ±9897sf Building size and situated on a ±15,821SF square feet of land. The property is a 3-story building with open lot parking. Part of the ground floor units are leased to 2 retail/commercial tenants (restaurant), and the remaining portion of ground floor unit is set up for communal living kitchen and living room. The residential units are located on the 2nd and 3rd floors. The unit mix is as follows: 2 Studio units, 18 Single Room Occupancy units, and 10 Co-Living units. The co-living kitchen and living room area have been upgraded with high-end upgrades and appliances. It has common area laundry rooms (seller’s own units), and a common garden area. Parking is provided by 26 open spaces and 2 additional spaces that are reserved for the restaurant tenant’s trailer. The property is master metered for electricity and gas with RUBS in-place. There is an artistic mural on the side of the property that is bringing extra income. Nearby amenities include multiple major hospitals and health related industries. Property has excellent access to Chinatown, Little Tokyo, Arts District & Downtown Los Angeles area via local street or one of the freeways such as FWY 10, FWY 5, FWY 101.
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Water Source : Public
Sewer : Public Sewer
Roof : Flat
Fireplace: None
Flooring: Carpet,Laminate,Vinyl,Wood
Wall/Window Unit(s)
Air Conditioning
Wall Furnace
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1926
Building Area Total: 9,897
Construction: Brick
Roof: Flat
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3632
Lot Size Source: Assessor
Lot Size Square Feet: 15821
Original List Price: 4,500,000
Listing Contract Date: 2024-01-10
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5210007003
Garage Description: Asphalt,Driveway
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 677 - Lincoln Hts
Postal Code Plus 4: 1040
Directions: east of FWY 5 exit ramp - right on Mission Rd across from USC Medical Centers
Zoning: LAM2
Source Property Type: Residential Income
Area: 677 - Lincoln Hts
Property SubType: Mixed Use
Property Age: 98
Common Walls: 2+ Common Walls
Structure Type: Mixed Use
Year Built Source: Assessor
Entry Level: 1
Entry Location: ground
Property Attached: Yes
Levels or Stories: Three Or More
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
300 S Pecan Street, Los Angeles, CA,90033 | $599,999 | 2 | 1 | 1,306 | 2047 Sqft |
574 N St Louis Street, Los Angeles, CA,90033 | $980,000 | 8 | 4 | 5,184 | 6070 Sqft |
2016 Pennsylvania Avenue, Los Angeles, CA,90033 | $1,300,000 | -- | -- | 6,022 | 7006 Sqft |
2814 Wabash Avenue, Los Angeles, CA,90033 | $999,888 | 4 | 2 | 2,184 | 5917 Sqft |
1607 E 4th Street, Los Angeles, CA,90033 | $600,000 | 2 | 1 | 2,398 | 3642 Sqft |
2103 Michigan Avenue, Los Angeles, CA,90033 | $850,000 | 4 | 2 | 1,901 | 6552 Sqft |
1684 Murchison Street, Los Angeles, CA,90033 | $3,875,000 | 32 | -- | 12,052 | 14871 Sqft |
2306 E 3rd Street #3, Los Angeles, CA,90033 | $1,099,000 | 7 | 5 | 3,465 | 5094 Sqft |
1327 Pennsylvania Avenue, Los Angeles, CA,90033 | $1,099,000 | 7 | 3.5 | 3,072 | 5644 Sqft |
2221 Michigan Avenue #M, Los Angeles, CA,90033 | $4,300,000 | 2 | -- | 9,229 | 6181 Sqft |
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ByOwner last updated this listing 05/20/2024 @ 19:02
MLS: AR24005836
LISTED BY: Han Chen, Growth Investment Group Pasade
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.