$ 7,388,888
-
$7,388,888
Price -
10
Bed -
7
Bath -
17,925
SqFt
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About the Listing PB21959 - PWEVERETT
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.
Listing Highlights
Interior Details
- Bedrooms: 10
- Bathrooms: 7 Full
- Appliances:
- Air Cond:
- Heating:
- 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: 29 car
- Parking Spaces: 29
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Controlled Entrance
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5208002018
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
2505 Hancock Los Angeles, CA 90031
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