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Listed by Justin McCardle, DRE #01895720 • Growth Investment Group Pasade
$ 2,100,000
Est. payment /mo
New
1927 Griffin AVE Los Angeles, CA 90031
9,902 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR26172939
Year Built 1946
Lot Size 9,902 Sqft
Source California Regional MLS
Property Description
Take a look at this this unique opportunity positioned in the heart of Lincoln Heights. One of Los Angeles' fastest-evolving urban neighborhoods, this 15-unit apartment community presents investors with an exceptional opportunity to acquire a well-located multifamily asset in a high-demand rental corridor. Situated just minutes from Downtown Los Angeles, the property benefits from strong tenant demand driven by its proximity to major employment centers, transportation hubs, educational institutions, and ongoing neighborhood revitalization. This building offers investors the opportunity to capitalize in a submarket experiencing increasing investment activity and redevelopment. The Griffin apartments have a nice unit mix with 8-1 bedrooms units, and 7 studios situated in 3 separate buildings with an estimated 48% upside in rent. The rear building is located above garages which presents the opportunity to earn additional garage income or take advantage of the plans to build 3- ADU's the existing ownership has! The properties attractive layout and size create for an ease of management as well as no on-site manager. All units are individually metered for Gas/ Electricity, and the property has onsite laundry. With Lincoln Heights' proximity to DTLA, it allows for tremendous upside in
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Interior
Laundry Laundry Area
Exterior
Parking Features No Parking, Other
Garage Spaces 8.0
Pool None
Building
Water District - Public
Others
Tax ID 5210012012
Special Listing Condition Not Applicable
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