2232 Workman 2232 Los Angeles, CA 90031
Other
MLS #: OC25234060
Courtesy Of ACT Realty Group
Property InformationDescription
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.
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.
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Cooling System: None (Cooling)
- MLSID: OC25234060
MAP & DIRECTIONS
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