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3010 Minnesota St 2 Unit Apartment Building $799,000 ($399,500/Unit) 3.42% Cap Rate Los Angeles, CA 90031
Investment Highlights
- Two detached Craftsman bungalows with one unit delivered vacant.
- Original period details, moldings, and built-ins preserved throughout.
- Located near popular eateries and entertainment within Lincoln Heights.
- Panoramic views of Downtown Los Angeles and the Hollywood Sign.
- Multiple outdoor spaces including a covered porch, patio, and large veranda.
- Easy commuter access to major highways and Downtown Los Angeles.
Executive Summary
A rare two-on-a-lot opportunity awaits on a hillside in Lincoln Heights, a Craftsman duplex comprising two fully detached bungalows with panoramic views and one unit delivered vacant. Overlooking the DTLA skyline and the Hollywood Sign, the vacant front unit is bright and spacious, with one bedroom and original moldings, built-ins, and period details throughout. The covered front porch perched high above the street is a lovely spot for morning coffee, and a back patio provides space for alfresco dining. The back unit is tucked away in privacy, featuring one bedroom, a flexible lower-level bonus space, and a large veranda with sweeping DTLA views. The property is perfect for an owner-user, an ideal setup to live in one and earn income from the other. You are close to The Heights Deli & Bottle Shop, Zizou, Trattoria Daly, Yumami, The Airliner, and El Arco.
Property Facts
| Price | $799,000 | Apartment Style | Low-Rise |
| Price Per Unit | $399,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 3.42% | Building Size | 1,242 SF |
| Gross Rent Multiplier | 19.58 | Average Occupancy | 50% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1932 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LARD3 - Residential | ||
| Price | $799,000 |
| Price Per Unit | $399,500 |
| Sale Type | Investment |
| Cap Rate | 3.42% |
| Gross Rent Multiplier | 19.58 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 1,242 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built | 1932 |
| Opportunity Zone |
Yes |
| Zoning | LARD3 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,025 | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5208-001-002 | Improvements Assessment | $163,200 |
| Land Assessment | $494,700 | Total Assessment | $657,900 |
Property Taxes
Parcel Number
5208-001-002
Land Assessment
$494,700
Improvements Assessment
$163,200
Total Assessment
$657,900
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