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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$1,648,000

Est. payment - /mo

9,979 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25240373

HOA Y/N No

Year Built 1890

Lot Size 9,979 Sqft

Property Sub-Type Apartment

Property Description

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.

Location

State CA

County Los Angeles

Area 677 - Lincoln Hts

Interior

Heating Central

Cooling None

Fireplace No

Laundry Common Area, Electric Dryer Hookup, Gas Dryer Hookup, Inside

Exterior

Fence Average Condition

Pool None

Community Features Urban

Roof Type Composition

Total Parking Spaces 5

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5204017013

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Clayton Tom Act Realty Group 323-481-0691

NEARBY SCHOOLS & PROPERTIES

SCHOOLSPROPERTIES

Elementary Schools 20

10

Arroyo Vista Elementary School

Public | KG - 5
9

Gabriella Charter

Public | KG - 8
9

Solano Avenue Elementary School

Public | KG - 6
9

Kipp Sol Academy

Public | 5 - 8
8

Allesandro Elementary School

Public | PK - 5
8

Puc Milagro Charter

Public | KG - 5
7

Celerity Octavia Charter

Public | KG - 8
7

Dorris Place Elementary

Public | KG - 6
7

Mt. Washington Elementary School

Public | KG - 6
7

Arroyo Seco Museum Science

Public | KG - 8
7

Latona Elementary School

Public | PK - 6
6

Betty Plasencia Elementary

Public | KG - 5
6

Yorkdale Elementary

Public | KG - 5
6

El Sereno Elementary School

Public | PK - 6
5

Atwater Avenue STEAM Elementary School

Public | KG - 6
5

Cerritos Elementary School

Public | PK - 6
5

Los Feliz Charter School for the Arts

Public | KG - 6
5

Castelar Elementary School

Public | KG - 5
5

Endeavor College Preparatory Charter

Public | KG - 8
5

Griffin Avenue Elementary

Public | KG - 5

Middle Schools 14

6

Irving STEAM Magnet

Public | 6 - 8
6

Hollenbeck Middle School

Public | 6 - 8
5

Puc Santa Rosa Charter Academy

Public | 6 - 8
5

Florence Nightingale Middle School

Public | 6 - 8
5

Los Angeles Leadership Academy

Public | 6 - 12
5

Luther Burbank Middle School

Public | 6 - 8
4

Puc Excel Charter Academy

Public | 6 - 8
4

Belvedere Middle School

Public | 6 - 8
4

El Sereno Middle School

Public | 6 - 8
3

Studio

Public | 6 - 8
3

Alliance College-Ready Middle Academy No. 5

Public | 6 - 8
1

Para los Ninos Middle School

Public | 6 - 8
0

Pacific Ohana Acdemy

Private | 6 - 12
0

Academia Avance Charter

Public | 6 - 12

High Schools 20

9

Downtown Business High School

Public | 9 - 12
9

Francisco Bravo Medical Magnet High School

Public | 9 - 12
9

Alliance Marc & Eva Stern Math and Science

Public | 9 - 12
8

Alliance Environmental Science and Technology High School

Public | 9 - 12
8

Math, Science, & Technology Magnet Academy at Roosevelt High School

Public | 9 - 12
8

Los Angeles High School for the Arts

Public | 9 - 12
7

Ramon C. Cortines School of Visual and Performing

Public | 9 - 12
7

PUC Early College Academy for Leaders & Scholars (ECALS)

Public | 9 - 12
6

Usc Hybrid High School

Public | 9 - 12
6

Alliance Susan and Eric Smidt Technology High School

Public | 9 - 12
6

Lincoln High School

Public | 9 - 12
6

Benjamin Franklin High School

Public | 9 - 12
5

Roybal Learning Center

Public | 9 - 12
5

Alliance Tennenbaum Family Technology High School

Public | 9 - 12
5

Boyle Heights STEM High School

Public | 9 - 12
5

Leadership in Entertainment and Media Arts (Lema)

Public | 9 - 12
5

Los Angeles International Charter High School

Public | 9 - 12
5

Esteban Torres High School - Engineering & Technology Academy

Public | 9 - 12
5

Esteban Torres High School - East Los Angeles Renaissance Academy

Public | 9 - 12
5

East Los Angeles Performing Arts Academy at Esteban E. Torres High School

Public | 9 - 12

School and business data provided by Attom Data.

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2232 2232 Workman Los Angeles, CA 90031