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1819 Workman Street

Lincoln Heights, CA 90031
  • $1,599,988
  • STATUS: Active
  • ON SITE: 27 Days
  • ID#: CV22084572
UPDATED: 79 min ago
$1,599,988
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1887
County:

School Ratings & Info

Listing Agent(s): Martin Gavilanes of Re/Max Champions (909-949-0605)


Description

Great investment opportunity! Property with a lot of potential! rental income will pay itself off.First time on market since 40 years ago. This income property is located at less than a mile from LAC+ USC Medical Center and only 10 minutes from Los Angeles Downtown and Chinatown. This property is located in a neighborhood that has gone through gentrification; completely surrounded by newly constructed houses and income units. Great family neighborhood near schools, churches, and freeway access with high demand from renters. Near Bus stops. NO VACANCY for the last 20 years. Very stable tenants. This income property consist of 6 units, of which two units are facing the street and one of them has three bedrooms and one bath. perfect for a big family. There is a small house in the immediate back that is rented as a a one bedroom/ one bath apartment with an adjacent storage shed. Also includes 3 back units with 3 one car garages in the very rear. This property has a new roof, new plumbing, and the front two unites have been completely remodeled 4 years ago. SELLER HAS OPEN ESCROW ALREADY IN ANOTHER PROPERTY.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/128169803
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1819 Workman Street Lincoln Heights, CA 90031

  • Price: $1,599,988
  • Status: Active
  • On Site: 27 Days
  • Updated: 79 min ago
  • ID#: CV22084572
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1887
Built
Neighborhood:
677 - Lincoln Hts
County:
Los Angeles
Area:
677 - Lincoln Hts
Property Description
Great investment opportunity! Property with a lot of potential! rental income will pay itself off.First time on market since 40 years ago. This income property is located at less than a mile from LAC+ USC Medical Center and only 10 minutes from Los Angeles Downtown and Chinatown. This property is located in a neighborhood that has gone through gentrification; completely surrounded by newly constructed houses and income units. Great family neighborhood near schools, churches, and freeway access with high demand from renters. Near Bus stops. NO VACANCY for the last 20 years. Very stable tenants. This income property consist of 6 units, of which two units are facing the street and one of them has three bedrooms and one bath. perfect for a big family. There is a small house in the immediate back that is rented as a a one bedroom/ one bath apartment with an adjacent storage shed. Also includes 3 back units with 3 one car garages in the very rear. This property has a new roof, new plumbing, and the front two unites have been completely remodeled 4 years ago. SELLER HAS OPEN ESCROW ALREADY IN ANOTHER PROPERTY.
Exterior Features

Carport Spaces 0 Fencing Average Condition Foundation Details Concrete Perimeter Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 5 Open Parking Spaces 6 Parking Features Assigned Parking Total 9 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Composition Spa Features None Spa YN No View None View YN No

Interior Features

Accessibility Features None Appliances Gas OvenGas Water Heater Common Walls 1 Common Wall Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring See Remarks Heating Wall Furnace Heating YN Yes Interior Features All Bedrooms UpAll Bedrooms Down

Property Features

Additional Parcels YN No Common Interest None Community Features Curbs Contingency Property is Subject To 1031 Exchange. Electric Electricity - On PropertyStandard Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 83918.4 Gross Scheduled Income 83918 Insurance Expense 1720 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange Net Operating Income 71488.4 New Construction YN No Number Of Separate Gas Meters 5 Number Of Separate Water Meters 5 Operating Expense 12430 Possession Negotiable Property Condition Updated/Remodeled Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 3800 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Martin Gavilanes of Re/Max Champions (909-949-0605)