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