Description​​​

Amazing opportunity to purchase a 10 unit Spanish Courtyard Bungalow property in Lincoln Heights. Located near the Post Office in Lincoln Heights one block from Broadway, the subject property is centrally located and very walkable. There is no on-site parking but most needs are within walking distance plus the location has 11 bus lines running through it making it very transit-friendly.  There are three separate buildings totaling 5,870 SF and a total of ten (10) units with a unit mix of 8(1Br+1Ba), 1(Studio +1Ba), 1(1.5 Br+1 Ba). There is partial copper plumbing, owners have maintained the property but have made no major renovations. However, the bungalow-style units afford the new owners ease when it comes to repairing and remodeling the units individually. This is a "value add" deal perfect for a Buyer who is looking to repositions a building, either gradually or all at once. Extremely low $/unit and $/SF, with over 50% rental upside!

Location

One block from Griffin and Broadway the subject property is centrally located and very walkable. Daily errands can be accomplished by foot due to the property's proximity to grocery stores, pharmacies, banks, and more. Lincoln Heights is a small neighborhood four miles east of DTLA. Due to its location, the neighborhood draws renters from various employment centers and universities: Keck USC Medical Center, White Memorial Hospital, DTLA, Cal State LA, FIDM, etc. This neighborhood continues to see growth, like 181 N Ave 21 the site of a six-story mixed-use development featuring 102 apartments, 100- key hotel, and 5,000 SF of retail space.