Multifamily

2431 Gates St

2431 Gates St, Los Angeles, CA 90031

Listing Price: $865,000

Cap Rate
4.02%
GRM
15.00
Occupancy
97.00%

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 2431 Gates Street in Los Angeles, California. The subject property is situated north of North Broadway Street, and east of Griffin Avenue, ideally situated near the most prominent commercial thoroughfares in Northeast Los Angeles.
Northeast Los Angeles is a diverse enclave of traditional cultures and trendy new amenities. Known for its charming mix of old and new, the neighborhood is building a reputation as a mecca for artists. Trendy shops, galleries, bars and restaurants continue to open outposts along the area's main thoroughfares of Figueroa Street and York Boulevard. The neighborhood is rapidly experiencing a gentrification like that that seen in the sought-after, trendy, and affluent neighborhoods of Venice, Silver Lake and Echo Park. Less than a 10-minute drive to Downtown Los Angeles, the neighborhood enjoys direct connectivity to the city center yet maintains the characteristics of a residential neighborhood.
Built in 1962, this one-story apartment building contains a great unit mix of two (2) one bedroom / one-bathroom units, one (1) two bedroom / two-bathroom unit, and one (1) three bedroom / two-bathroom house. The subject property is positioned on a large lot (8,581 SF) and contains three separate buildings providing each unit with extra privacy and space. Residents will enjoy the convenience of full on-site parking and walk able amenities such as; The Heights Deli & Bottle Shop, Maracas Cafe, Kailey's Restaurant, Abraham Lincoln High School, Lincoln Park, and Ascot Hills Park.
Well positioned in a prime Lincoln Heights location, this offering present a special opportunity for an astute investor to capitalize on significant upside in a gentrifying neighborhood of Los Angeles.

Investment Highlights

  • Prime Lincoln Heights Location
  • Significant Rental Upside
  • Drought Tolerant Landscaping Low Maintenance

Exclusively Listed By

Listing Price: $865,000

Cap Rate
4.02%
GRM
15.00
Occupancy
97.00%

Investment Highlights

  • Prime Lincoln Heights Location
  • Significant Rental Upside
  • Drought Tolerant Landscaping Low Maintenance

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 2431 Gates Street in Los Angeles, California. The subject property is situated north of North Broadway Street, and east of Griffin Avenue, ideally situated near the most prominent commercial thoroughfares in Northeast Los Angeles.
Northeast Los Angeles is a diverse enclave of traditional cultures and trendy new amenities. Known for its charming mix of old and new, the neighborhood is building a reputation as a mecca for artists. Trendy shops, galleries, bars and restaurants continue to open outposts along the area's main thoroughfares of Figueroa Street and York Boulevard. The neighborhood is rapidly experiencing a gentrification like that that seen in the sought-after, trendy, and affluent neighborhoods of Venice, Silver Lake and Echo Park. Less than a 10-minute drive to Downtown Los Angeles, the neighborhood enjoys direct connectivity to the city center yet maintains the characteristics of a residential neighborhood.
Built in 1962, this one-story apartment building contains a great unit mix of two (2) one bedroom / one-bathroom units, one (1) two bedroom / two-bathroom unit, and one (1) three bedroom / two-bathroom house. The subject property is positioned on a large lot (8,581 SF) and contains three separate buildings providing each unit with extra privacy and space. Residents will enjoy the convenience of full on-site parking and walk able amenities such as; The Heights Deli & Bottle Shop, Maracas Cafe, Kailey's Restaurant, Abraham Lincoln High School, Lincoln Park, and Ascot Hills Park.
Well positioned in a prime Lincoln Heights location, this offering present a special opportunity for an astute investor to capitalize on significant upside in a gentrifying neighborhood of Los Angeles.

Exclusively Listed By

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