Exclusive Listings

Eagle Rock, Value Add 20 Unit Apartment, All Single Level on over an Acre

Address:
4422 - 4442 Lincoln Avenue
Los Angeles, CA 90041
Price:
$5,166,000
Status:
Sold
Type:
Apartment
# Units:
20
Year Built:
1950
Building Size:
11,855
Lot Size:
44,608
CAP Rate:
4.25
GRM:
14.90x
Price/Unit:
$258,300
Price/SqFt:
$436

HIGHLIGHTS

  • Nice Eagle Rock Location, Close to York and Eagle Rock Blvd
  • Value-Add Opportunity, with 38% Potential Rental Upside!
  • Attractive Ranch style building- all single level units
  • Huge Lot- Combined Over an Acre (44,608 SF)
  • 3 Separate Parcels
  • Great Day 1 numbers, over 4% CAP on current
  • Attractive Price per unit
  • 1950’s construction- with no soft story retrofit required
  • Great Unit mix for the Market:  17- 1/1’s, 2- 2/1’s, and 1- 3/1
  • ADU Potential (Buyer to Verify)
  • Well Parked, with 24 Spaces, and 4 Garages


EXECUTIVE SUMMARY

The Growth Investment Group is proud to present this attractive 20 Unit Value Add Apartment community in Eagle Rock. This property consists of all single level units situated on over an acre of land, creating a spread out feel at the property, providing plenty of room for cars, or potential to add ADU’s on site for the next owner. The property boasts 17- 1/1’s, 2- 2/1’s, and 1- 3/1 with all units having front and back doors, as well as great potential with 38% rental upside. This asset is very attractive with expansive grounds sitting on over an acre, spread out on 3 separate parcels (10 Units, 6 units, and 4 units) which could present a savvy investor the opportunity to get creative with financing. The properties are individually metered for gas and electricity in a great central Eagle Rock location. These types of properties don’t come along very often and has tremendous potential for the next owner to add value and put this property into their portfolio!

Marketing Files


Due Diligence


Broker Contact

Justin McCardle
Direct: (909) 486-2069
justin@growthinvestmentgroup.com

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Office:
1487 E Colorado Blvd
Pasadena, CA 91106
By Appointment Only - No Walk-ins
Phone: 626.594.4901
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