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Executive Summary

A Nice 4-units with a large lot Near 10,000 Sf. It's located at downtown Lincoln Height area, near Chinatown, close shopping, banks, Bus stop, CVS, Library at the Same Street, walk distance to all conveniences. Seller spent $30000 to remodeling the unit 2432 1/2, including new interior paint, new water heater, all new dual windows, new laminated flooring, kitchen with new countertop, new cabinets, tile floor, the full bathroom with new tub, new toilet and new cabinet. This unit has a high ceiling, bright and airy, good for family living. There are 3 buildings plus approx. 600 large storage structures in the rear(permit unknown). The total building size is 3470 Sf. The site address is 2432, 2432 1/2, 2434 and 2436 Workman. The front building has 2184 Sf. has 2 units - one unit is 2 bedrooms plus den(current use as a 3rd bedroom), 2 baths; other unit is 1 bedroom, 1 bath; the 2nd building built in 1904, 544 Sf. 1 bedroom, one bath; the rear unit built in 1914, 742 Sf., 2 bedrooms, 1 bath, with fenced large well kept back yard. There are 4 electric meters, 4 gas, and 4 waste / trash services accounts. Tenants pay their own utilities including trash except water. Seller Note, the property is located at the rent control area. The current rent is a lot below the market, it hasn't been increased for many years, and has potential to increase. Ideal for the owner occupant or investment. Buyer is advised to independently verify the accuracy of all information. Please make the offer subject to interior inspection. Please don't walk on the property, do not disturb tenants. Thank you for your cooperation.

Property Facts

Price $1,060,000
Price Per Unit $265,000
Sale Type Investment
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.23 AC
Building Size 3,470 SF
No. Stories 2
Year Built 1890
Opportunity Zone Yes
Zoning LARD2

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
4+3 2 - 2,184
1+1 1 - 544
2+1 1 - 742
Very walkable
80/100
Very drivable
80/100
Strong public transit
80/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Number
5204-015-016
Land Assessment
$264,129
Improvements Assessment
$76,544
Total Assessment
$340,673
  • Listing ID: 23194592

  • Date on Market: 5/25/2021

  • Last Updated:

  • Address: 2432 Workman St, Los Angeles, CA 90031

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