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Drake Cruz

drake@drake4homes.com +1(562) 884-9016

$ 7,388,888

Est. payment | -/mo

0.31 Acres Lot

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$ 7,388,888

Est. payment | -/mo

Save

0.31 Acres Lot

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26155563

HOA Y/N No

Year Built 1985

Lot Size 0.313 Acres

Property Sub-Type Mixed Use

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

Fireplace No

Laundry Common Area

Exterior

Parking Features Controlled Entrance

Garage Spaces 29.0

Garage Description 29.0

Pool None

Community Features Urban

Total Parking Spaces 29

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5208002018

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Everett Wong Kidder Mathews of California 310-382-6705, DRE #01991247

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(562) 884-9016

drake@drake4homes.com

6621 E Pacific Coast Hwy #150, Long Beach, CA 90803, USA

2505 Hancock Los Angeles, CA 90031

Drake Cruz

Key Details

Location

Interior

Exterior

Building

Others

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2505 Hancock