$ 1,688,000
-
$1,688,000
Price -
11
Bed -
6
Bath -
4,161
SqFt
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About the Listing H05287 - STOMCLA
Rare five-unit investment in Lincoln Heights! 2232–2234 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.
Listing Highlights for 2232 Workman
Status
Active
Days on Site
10
Property Type
Multi-Family
MLS ®
OC25240373
Year Built
1890
Total Square Footage
4,161
Lot/Acreage
0.23
County
Los Angeles
Area
677 - Lincoln Hts
Interior Details
- Bedrooms: 11
- Bathrooms: 6 Full
- Appliances:
- Air Cond:
- Heating: Central
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 5
- Roof: Composition
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5204017013
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
2232 Workman Los Angeles, CA 90031
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