2232 Workman, Los Angeles, CA 90031
- $1,628,000
- List Price
- $1,628,000
- Status
- ACTIVE
- MLS#
- OC26080663
- Year Built
- 1890
- Lot Size
- 9,980
- Acres
- 0.23
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 106
- Property Type
- Multifamily
- Property Sub Type
- Apartment
Property 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.
Additional Information
- Pool Description
- None
- Heat
- Central
- Cooling Description
- None
- Roof
- Composition
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 31271
- Gross Scheduled Income
- $139,200
- Operating Expense
- 55680
Listing courtesy of Listing Agent: Clayton Tom (ctom42@gmail.com) from Listing Office: Act Realty Group.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.