Active

1141 N Mission RD

LOS ANGELES CA, 90033

$4,500,000


$454.68 per sqft

Active

9,897 sqft

Residential

Built in 1926

A 32-unit mixed-use residential/SRO/retail community in Lincoln Heights neighborhood, Los Angeles. It offers a strategic location right across from multiple major hospitals and medical centers Los Angeles General Hospital, USC Health Science Campus, LA County Department of Medical Examiner, and other health science related industries. It offers high CAP Rate of 6.14% and Cash-on-cash return of 8.93% (buyer to verify). The property was built in 1926 and subject to the City of Los Angeles Rent-Stabilization ordinance. It sits on 2 parcels totaling 9897sf Building size and situated on a 15,821SF square feet of land. The property is a 3-story building with open lot parking. Part of the ground floor units are leased to 2 retail/commercial tenants (restaurant), and the remaining portion of ground floor unit is set up for communal living kitchen and living room. The residential units are located on the 2nd and 3rd floors. The unit mix is as follows: 2 Studio units, 18 Single Room Occupancy units, and 10 Co-Living units. The co-living kitchen and living room area have been upgraded with high-end upgrades and appliances. It has common area laundry rooms (seller s own units), and a common garden area. Parking is provided by 26 open spaces and 2 additional spaces that are reserved for the restaurant tenant s trailer. The property is master metered for electricity and gas with RUBS in-place. There is an artistic mural on the side of the property that is bringing extra income. Nearby amenities include multiple major hospitals and health related industries. Property has excellent access to Chinatown, Little Tokyo, Arts District & Downtown Los Angeles area via local street or one of the freeways such as FWY 10, FWY 5, FWY 101.

AR24005836MR

MLS ID

January 10, 2024

Listed

May 9, 2024

Updated

Map

1141 N Mission RD
LOS ANGELES CA, 90033

Interior Features

Total Stories

3


Laundry Description

Community, Laundry Area


Fireplace

Yes


Fireplace Description

None


Cooling

Yes


Cooling Description

Wall/Window Unit(s)


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.36 Acres


Roof

Flat


Sewer

Public Sewer

Other Property Details

Area Name

Lincoln Heights


Days on Market

96


Garage

No


Parking

Driveway


Parking Total

28


View

Yes


View Description

City Lights


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LAM2

Listing History

Date

Event

Price

4/15/2024

Price Change

$4,500,000

-7%

Listed by Han Chen with Growth Investment Group Pasade
Listing Contact: 626-224-2495 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Cari Field Team shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 5/9/2024

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