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Listed by Everett Wong, DRE #01991247 • Kidder Mathews of California
$ 7,388,888
Est. payment /mo
Active
2505 Hancock Los Angeles, CA 90031
0.31 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26155563
Year Built 1985
Lot Size 0.313 Acres
Source California Regional MLS
Property Description
We are pleased to present 2505 Hancock Street-a rare opportunity to acquire a 28-unit multifamily asset with significant capital improvements in the heart of Lincoln Heights, one of Northeast Los Angeles' most dynamic rental submarkets. This property is offered at an attractive 9.9x GRM and 6.3% Cap Rate. Built in 1985, the property is subject to California's AB 1482 statewide rent control regulations rather than the City of Los Angeles Rent Stabilization Ordinance. Ownership has completed significant capital improvements, including a new roof overlay and replacement of electrical sub-panels for all units, substantially reducing future capital expenditure requirements. Approximately half of the units feature desirable two-story loft layouts with expansive private patios. Ideally positioned near major employment centers, including LAC+USC Medical Center, Keck Medicine of USC, and California State University, Los Angeles, the property benefits from a deep and diverse tenant base driven by healthcare, education, and Downtown Los Angeles employment.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Interior
Laundry Laundry Area
Exterior
Parking Features Gate / Door Opener
Garage Spaces 29.0
Pool None
Building
Water District - Public
Others
Tax ID 5208002018
Special Listing Condition Not Applicable
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