House + Duplex in Lincoln Heights

$1,148,000

2015 Hancock St

# of Units: 3

GRM (Pro Forma): 12.93

CAP Rate (Pro Forma): 6.07%

Price/SF: $412

Building SF: 2,787

Lot SF: 8,363

Zoning: LARD3

Year Built: 1907 &            1923

Description​​​

1,203 SF 4 Bedroom + 2 Bathroom Home, PLUS a duplex for an incredible price! 100% rented. Front duplex is 2 Bedrooms and 1 Bathroom each, and each unit is almost 800 SF. The 4Br + 2 Ba house is in the rear, along with a large open parking area that may be enough room to add an ADU (buyer to investigate). The property sits on a huge 8,363 Sf lot in Lincoln Heights near USC Keck School of Medicine. the property is located in a Tier 1 TOC and HPOZ. Both exteriors have been recently painted. Additionally, the property has low expenses due to separate water meters, so the owner pays ZERO utility expenses, and there is concrete throughout the property so no landscaping is needed. 

Location

Located in the northern part of Lincoln Heights near Montecito Heights and Cypress Park. Nearby points of interest include; Ela Park, King taco, The Heights Deli + Bottle Shop, Smart & Final, Lincoln Heights Library, and Lincoln Heights Recreation Center. Dodger Stadium, Chinatown, Keck USC Medical Center, and LA State Historic Park are all within a 2.5-mile radius. Less than a mile away is a proposed six-story mixed-use project that includes 100 residential units, a 200 room hotel, and 5,000 SF of ground-floor retail space. This property is a short 1.6 miles from Heritage Square Metro Gold Line stop. El

Property Highlights

  • Large 8,363 SF Lot

  • Separate Water Meters

  • New Exterior Paint

  • No Landscaping Required

  • Low Expenses

  • Walk Score 82 (Very Walkable)

  • 83% Rental Upside

  • Tier 1 TOC & HPOZ

  • Large Driveway 

  • Potential to Build an ADU (Buyer to investigate)

  • Easy Access to N Main St & N Mission Rd

Please Send Me More Infomation On This Listing

Thanks for submitting!