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2232 Workman, Los Angeles, CA 90031
Priced at Only: $1,648,000
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Address: 2232 Workman, Los Angeles, CA 90031
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  • MLS#: OC25240373 ( Apartment )
  • Street Address: 2232 Workman
  • Viewed: 2
  • Price: $1,648,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1890
  • Bldg sqft: 0
  • Days On Market: 128
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90031
  • Provided by: Act Realty Group
  • Contact: Clayton Clayton
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Rare five unit investment in Lincoln Heights! 22322234 Workman Street features a desirable two building configuration on a deep rectangular 9,980 sq ft lot (LARD1.5 zoning). The property consists of five total units one (1) 3 bedroom, 2 bath, and four (4) 2 bedroom, 1 bath units totaling approximately 4,160 sq ft. Built in 1921, the buildings combine classic architecture with solid rental fundamentals. The rear two story structure (2234) includes a spacious 3 bedroom, 2 bath unit on the ground floor and two 2 bedroom, 1 bath units above. The front building facing Workman Street (2232 & 2232 1/2) features two 2 bedroom, 1 bath units, each with separate entries. Based on pro forma numbers, the property can yield a 5% cap rate at market rents. This allows for immediate upside as units transition to market rents. The large, deep lot with LARD1.5 zoning may offer future ADU or redevelopment potential (buyer to verify with the City). Excellent location: minutes from Downtown LA, Chinatown, the Arts District, and USC Health Sciences Campus, with convenient freeway access. This is a value add opportunity in a rapidly appreciating neighborhood with strong rental demand and long term growth potential.
Features
Building Area Total
  1. 4161.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Cooling
  1. None
Country
  1. US
Days On Market
  1. 116
Current Financing
  1. None
Electric Expense
  1. 1000.00
Fencing
  1. Average Condition
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Heating
  1. Central
Insurance Expense
  1. 2000.00
Laundry Features
  1. Common Area
  2. Gas & Electric Dryer Hookup
  3. Inside
Lockboxtype
  1. Call Listing Office
  2. Combo
  3. Supra
Lot Features
  1. 0-1 Unit/Acre
Netoperatingincome
  1. 83520.00
Parcel Number
  1. 5204017013
Pool Features
  1. None
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Roof
  1. Composition
Security Features
  1. Carbon Monoxide Detector(s)
  2. Smoke Detector(s)
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 449238293:CRM
Totalexpenses
  1. 6600.00
Trash Expense
  1. 100.00
Uncovered Spaces
  1. 5.00
Water Sewer Expense
  1. 200.00
Water Source
  1. Public
Year Built
  1. 1890
Year Built Source
  1. Public Records
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Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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