2232 Workman, Los Angeles, CA 90031

• 9 beds |
• 5 baths

Property Description

Rare five-unit investment in Lincoln Heights! 22322234 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.

Listing Status:

Active

Listing Office:

Act Realty Group :

Listing Agent:

Clayton Tom : 323-481-0691

MLS ID:

OC25240373

Interior

• A/C: N/K

Exterior

• Pool: N/K

Construction

• Roofing: Composition

Location

• Originating MLS: California Regional MLS
• County: Los Angeles

Lot

• Zoning: Public Rec5204017013

Financial

• Source: California Regional MLS

This listing courtesy of Clayton Tom, Act Realty Group