House for sale

Overview

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 (sellers own units), and a common garden area. Parking is provided by 26 open spaces and 2 additional spaces that are reserved for the restaurant tenants 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 and Downtown Los Angeles area via local street or one of the freeways such as FWY 10, FWY 5, FWY 101. For more details and to contact: https://realtyww.info/homes_los-angeles-d523223/for-sale_i69091709

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