2505 Hancock, Los Angeles, CA 90031
List Price: $7.39M
Listing Status: Active
0Days on Market: 5
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1985
Lot Size: 13,653 sq ft
Garage Spaces: 29
Private Pool: Yes
MLS Number: PW26155563
About This Property
We are pleased to present 2505 Hancock Street—a rare opportunity to acquire a 28-unit multifamily asset with significant capital improvements in the heart of Lincoln Heights, one of Northeast Los Angeles' most dynamic rental submarkets. This property is offered at an attractive 9.9x GRM and 6.3% Cap Rate. Built in 1985, the property is subject to California's AB 1482 statewide rent control regulations rather than the City of Los Angeles Rent Stabilization Ordinance. Ownership has completed significant capital improvements, including a new roof overlay and replacement of electrical sub-panels for all units, substantially reducing future capital expenditure requirements. Approximately half of the units feature desirable two-story loft layouts with expansive private patios. Ideally positioned near major employment centers, including LAC+USC Medical Center, Keck Medicine of USC, and California State University, Los Angeles, the property benefits from a deep and diverse tenant base driven by healthcare, education, and Downtown Los Angeles employment.
Listing provided by: Everett Wong DRE #01991247 949-557-5000 everett.wong@kidder.com, Kidder Mathews of California
Source: CRMLS, MLS #: PW26155563
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.