Description

Rare value-add opportunity in Lincoln Heights featuring a 5-unit property with significant vacancy, allowing a new owner to establish market rents from day one and implement a tailored lease-up strategy. Current income reflects existing vacancy, offering a clear path to repositioning and increased returns over time. Property consists of a desirable unit mix including multiple 2-bedroom units and one 3-bedroom unit, appealing to a broad tenant base. Vacancy provides operational flexibility, with no widespread tenant displacement required; one unit may require relocation depending on the buyer’s plan. All units are separately metered for gas and electricity, with a single water meter for the property, supporting efficient management and expense control. Market rent potential supports meaningful upside upon stabilization, making this an ideal opportunity for investors seeking a value-add, lease-up play with long-term income growth.

Property details

Year built

1890

Property type

Residential Income

Lot size

9,980 sqft

Location

2232 Workman • Los Angeles, CA 90031

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Listed by

Clayton Tom · Act Realty Group

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Closed sales reported in 90031, nearest first, last 12 months. All recent sales in Los Angeles →

Residential Income - 2232 Workman, Los Angeles, CA