Executive Summary
Growth Investment Group is proud to present this 15-unit VALUE-ADD apartment building centrally located in the Lincoln Heights neighborhood of Los Angeles. The Griffin apartments have a nice unit mix with 8-1 bedrooms units, and 7 studios situated in 3 separate buildings with an estimated 66% upside in rent. The rear building is located above garages which presents the opportunity to earn additional garage income or create significant value with ADU’s (buyer to verify). 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 rents and appreciation. This building has an attractive price per unit, and substantial upside, will be a great addition to any portfolio!
Although it may be one of the oldest areas in Los Angeles, Lincoln Heights brings creativity and youthful energy to the community as home to the USC Health Sciences Campus. The neighborhood is directly east of Dodger Stadium and Los Angeles State Historic Park. With its affordable restaurants, trendy nightclubs, and a passionate arts scene, Lincoln Heights is one of LA’s most-loved neighborhoods for good reason. With just over two miles to Downtown LA, apartments in Lincoln Heights are very popular. Lincoln Heights is home to several major landmarks, including the San Antonio Winery. This historical landmark is the last remaining winery in Downtown LA. It also features a restaurant, a tasting room, and special events. Historic Lincoln Park is a neighborhood gem. As LA’s first park, it hasn’t changed all that much since it opened in 1881. Enjoy spectacular views, a beautiful lake, picnic areas, a playground, ball fields, a recreation center, and a senior center.