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Multifamily

2922 Lincoln Park Ave

2922 Lincoln Park Ave, Los Angeles, CA 90031

Listing Price: $1,100,000

Cap Rate
3.00%
Number of Units
5
Occupancy
100.0%
Price/Unit
$220,000
Price/Gross SF
$368.51
Gross SF
2,985

Investment Overview

Marcus and Millichap is pleased to present a five (5) unit apartment building located at 2922 Lincoln Park Avenue in Los Angeles, California. The subject property is positioned in a solid Lincoln Heights location, north of North Broadway and east of Griffin Avenue. Lincoln Heights is a densely urban neighborhood (based on population density) located in Los Angeles, California. Most of the residential real estate is renter occupied. Many of the residences in Lincoln Heights are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. The area is well known for its adjacency to scenic hillside views, quiet residential pockets, and short commuting distance to Downtown Los Angeles. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. The Lincoln Heights neighborhood is among the top 5% of American neighborhoods in terms of walkability. Built in 1904, this property contains a great unit mix of one (1) one bedroom / one bathroom units, three (3) two bedroom / one bathroom units, and one (1) three bedroom / one bathroom unit. The lot is large at 7,493 square feet with plenty of on-site parking available in the back. Tenants will enjoy being within short driving distance to great restaurant and retail amenities on North Broadway. Some of these include Esmeralda Zumba Studio, Kailey’s Cafe, Champion Donuts, HM157 Art Center, The Heights Deli & Bottle Shop, Otis Fashion Boutique, and Replika Vintage. Outdoor recreation at Lincoln Park & Plaza de la Raza is also available less than a mile south from the subject property. Situated in a solid Lincoln Heights location, this offering presents an excellent opportunity for an any investor to capitalize on over 90% rental upside potential.

Investment Highlights

  • Solid Lincoln Heights Location
  • First Time on the Market in 20 Years
  • Quiet, Lush, & Serene Pocket of Los Angeles
  • Located in an Opportunity Zone
  • Good Option to Add Two (2) ADUs in the Back
  • 9.45 Pro Forma GRM
  • Incredible Rental Upside Potential - Over 90% Increase
  • Large 7,493 SqFt Lot

Exclusively Listed By

Financing By

Multifamily

2922 Lincoln Park Ave

Listing Price: $1,100,000

Cap Rate
3.00%
Number of Units
5
Occupancy
100.0%
Price/Unit
$220,000
Price/Gross SF
$368.51
Gross SF
2,985

Investment Highlights

  • Solid Lincoln Heights Location
  • First Time on the Market in 20 Years
  • Quiet, Lush, & Serene Pocket of Los Angeles
  • Located in an Opportunity Zone
  • Good Option to Add Two (2) ADUs in the Back
  • 9.45 Pro Forma GRM
  • Incredible Rental Upside Potential - Over 90% Increase
  • Large 7,493 SqFt Lot

Investment Overview

Marcus and Millichap is pleased to present a five (5) unit apartment building located at 2922 Lincoln Park Avenue in Los Angeles, California. The subject property is positioned in a solid Lincoln Heights location, north of North Broadway and east of Griffin Avenue. Lincoln Heights is a densely urban neighborhood (based on population density) located in Los Angeles, California. Most of the residential real estate is renter occupied. Many of the residences in Lincoln Heights are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. The area is well known for its adjacency to scenic hillside views, quiet residential pockets, and short commuting distance to Downtown Los Angeles. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. The Lincoln Heights neighborhood is among the top 5% of American neighborhoods in terms of walkability. Built in 1904, this property contains a great unit mix of one (1) one bedroom / one bathroom units, three (3) two bedroom / one bathroom units, and one (1) three bedroom / one bathroom unit. The lot is large at 7,493 square feet with plenty of on-site parking available in the back. Tenants will enjoy being within short driving distance to great restaurant and retail amenities on North Broadway. Some of these include Esmeralda Zumba Studio, Kailey’s Cafe, Champion Donuts, HM157 Art Center, The Heights Deli & Bottle Shop, Otis Fashion Boutique, and Replika Vintage. Outdoor recreation at Lincoln Park & Plaza de la Raza is also available less than a mile south from the subject property. Situated in a solid Lincoln Heights location, this offering presents an excellent opportunity for an any investor to capitalize on over 90% rental upside potential.

Exclusively Listed By

Financing By

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