2232 Workman, Los Angeles, CA 90031

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Glen Henderson

[email protected] +1(619) 889-7646

$1,688,000

Est. payment - /mo

9 Beds

9,980 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25240373

Bedrooms 9

Lot Size 9,980 Sqft

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash

Property Type Res Income 2-4 Units

Property Description

Rare five-unit investment in Lincoln Heights! 22322234 Workman Street features a desirable two-building configuration on a deep rectangular 9,980 sq ft lot (LARD1.5 zoning). The property consists of five total units one (1) 3-bedroom, 2-bath, and four (4) 2-bedroom, 1-bath units totaling approximately 4,160 sq ft. Built in 1921, the buildings combine classic architecture with solid rental fundamentals. 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

Zoning Public Rec

Direction 5 fwy, exit main st, left turn on Daly, r/t @ Vallejo and l/t at Workman st.

Interior

Fireplace No

Exterior

View Y/N No

Roof Type Composition

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5204017013

Acceptable Financing Cash

Listing Terms Cash

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Listed by Clayton Tom Act Realty Group

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

2232 Workman Los Angeles, CA 90031

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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