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3109 George St - 3109 George St | 4 Units | Lincoln Heights 4 Unit Apartment Building Offered at $500,000 at a 6.07% Cap Rate Los Angeles, CA 90031
Investment Highlights
- Offered At an Attractive Basis
- Four (4) Spacious One-Bedroom Units
- Potential For ADUs or Future Development
- 74% Upside in Rents
- Two Separate Parcels Totaling Approximately 9,000 Square Feet
Executive Summary
Marcus & Millichap presents 3109 George Street, a four-unit multifamily investment opportunity located in Lincoln Heights, one of Los Angeles’ most historic and rapidly evolving neighborhoods.
The offering consists of two separate parcels totaling approximately 9,000 square feet of land. The four-unit building is situated on the front parcel and features four (4) spacious one-bedroom units totaling 2,704 square feet. The separate rear parcel provides investors with an opportunity to explore additional development or other value-add possibilities.
The property represents an exceptionally attractive basis of $125,000 per unit and $185 per square foot of building area. With approximately 74% upside in rental income, investors have a compelling opportunity to substantially increase cash flow as units turn over.
3109 George Street is conveniently located near the USC Health Sciences Campus, Lincoln Park and the Metro A Line, providing convenient access to Downtown Los Angeles and several major employment and transportation corridors. The property is also situated near A34, a five-acre, transit-oriented development featuring 468 residential units and approximately 16,000 square feet of retail space near the Heritage Square Metro station.
With its two-parcel configuration, significant rental upside, attractive price per unit and potential for future development, 3109 George Street presents a rare opportunity to acquire a multifamily asset at an exceptionally low basis in a neighborhood poised for continued growth.
The offering consists of two separate parcels totaling approximately 9,000 square feet of land. The four-unit building is situated on the front parcel and features four (4) spacious one-bedroom units totaling 2,704 square feet. The separate rear parcel provides investors with an opportunity to explore additional development or other value-add possibilities.
The property represents an exceptionally attractive basis of $125,000 per unit and $185 per square foot of building area. With approximately 74% upside in rental income, investors have a compelling opportunity to substantially increase cash flow as units turn over.
3109 George Street is conveniently located near the USC Health Sciences Campus, Lincoln Park and the Metro A Line, providing convenient access to Downtown Los Angeles and several major employment and transportation corridors. The property is also situated near A34, a five-acre, transit-oriented development featuring 468 residential units and approximately 16,000 square feet of retail space near the Heritage Square Metro station.
With its two-parcel configuration, significant rental upside, attractive price per unit and potential for future development, 3109 George Street presents a rare opportunity to acquire a multifamily asset at an exceptionally low basis in a neighborhood poised for continued growth.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$49,572
|
$18.33
|
| Other Income |
$213
|
$0.08
|
| Vacancy Loss |
$1,487
|
$0.55
|
| Effective Gross Income |
$48,298
|
$17.86
|
| Taxes |
$5,937
|
$2.20
|
| Operating Expenses |
$11,993
|
$4.44
|
| Total Expenses |
$17,930
|
$6.63
|
| Net Operating Income |
$30,368
|
$11.23
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $49,572 |
| Annual Per SF | $18.33 |
| Other Income | |
|---|---|
| Annual | $213 |
| Annual Per SF | $0.08 |
| Vacancy Loss | |
|---|---|
| Annual | $1,487 |
| Annual Per SF | $0.55 |
| Effective Gross Income | |
|---|---|
| Annual | $48,298 |
| Annual Per SF | $17.86 |
| Taxes | |
|---|---|
| Annual | $5,937 |
| Annual Per SF | $2.20 |
| Operating Expenses | |
|---|---|
| Annual | $11,993 |
| Annual Per SF | $4.44 |
| Total Expenses | |
|---|---|
| Annual | $17,930 |
| Annual Per SF | $6.63 |
| Net Operating Income | |
|---|---|
| Annual | $30,368 |
| Annual Per SF | $11.23 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $921.00 | - |
| 1+1 | 1 | $1,040 | - |
| 1+1 | 1 | $1,141 | - |
| 1+1 | 1 | $1,029 | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Contacts
-
Sevak Keshishian -
Emin Khachatoorian -
Shara Parseghian -
The SK Group of Marcus & Millichap
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