2232 2232 Workman Los Angeles, CA 90031
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25240373
HOA Y/N No
Year Built 1890
Lot Size 9,979 Sqft
Property Sub-Type Apartment
Property Description
The rear two-story structure (2234) includes a spacious 3-bedroom, 2-bath unit on the ground floor and two 2-bedroom, 1-bath units above. The front building facing Workman Street (2232 & 2232 1/2) features two 2-bedroom, 1-bath units, each with separate entries.
Based on pro-forma numbers, the property can yield a 5% cap rate at market rents. This allows for immediate upside as units transition to market rents.
The large, deep lot with LARD1.5 zoning may offer future ADU or redevelopment potential (buyer to verify with the City).
Excellent location: minutes from Downtown LA, Chinatown, the Arts District, and USC Health Sciences Campus, with convenient freeway access. This is a value-add opportunity in a rapidly appreciating neighborhood with strong rental demand and long-term growth potential.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Interior
Heating Central
Cooling None
Fireplace No
Laundry Common Area, Electric Dryer Hookup, Gas Dryer Hookup, Inside
Exterior
Fence Average Condition
Pool None
Community Features Urban
Roof Type Composition
Total Parking Spaces 5
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5204017013
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
GET MORE INFORMATION