4721 Lincoln Ave - Apartments FOR SALE
Los Angeles, CA 90042 |
4721 Lincoln Ave
Los Angeles, CA 90042
HIGHLIGHTS
- First time on market in over 35 years, located in the gentrified neighborhood of Highland Park with strong rental demand
- Former York Motel featuring 12 large residential units and 1 commercial office space for value-add or redevelopment opportunities
- Versatile unit mix includes six 2-bed/2-bath, two 2-bed/1-bath, three 1-bed/1-bath units, one studio, and one commercial unit
- 93% vacancy, providing immediate potential for unit renovations and high rental income growth
- Pro Forma CAP rate of over 6.5%, with further income potential through the addition of up to three ADUs (subject to approval)
- Two contiguous parcels totaling 0.44 acres, with an adjacent single-family parcel available for expanded development (0.57 acres total)
FOR SALE DETAILS
PRICE
-
# OF UNITS
-
CAP RATE
-
% LEASED
-
BUILDING DETAILS
PROPERTY NAME
Former Motel 93% Vacant | Pro Forma Over 6.2%
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
ADD'L SUBTYPES
Storefront Retail/Residential, Office/Residential
TOTAL BUILDING SIZE
10180
STORIES
2
YEAR BUILT
1963
PARKING SPACES
30
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
5474-017-012,5474-017-013
