2221 Griffin Ave - Apartments FOR SALE


Los Angeles, CA 90031- Lincoln Heights
$1,550,000 USD
626-808-1031
2221 Griffin Ave, Los Angeles, CA for Sale
$1,550,000 USD
Apartments - FOR SALE
1/9
null | 6.45% Cap Rate

2221 Griffin Ave
Los Angeles, CA 90031
Lincoln Heights


HIGHLIGHTS

  • Strategic Lincoln Heights Location: Situated in one of Los Angeles' fastest-growing submarkets, minutes from DTLA and the USC Health Sciences Campus.
  • Diverse Multi-Family Unit Mix: Features a six-unit composition consisting of (3) 1-Bedroom/1-Bath, (2) 2-Bedroom/1-Bath, and (1) 3-Bedroom/1.5-Bath.
  • Expansive 8,000+ SF Lot (LARD3-HPOZ): A generous 0.18-acre lot provides ample on-site parking for tenants.
  • Superior Connectivity: Exceptional access to the 110 and 5 Freeways and major employment hubs in Central LA and DTLA.
  • Immediate Cash Flow: Strong rents with one vacancy allowing for immediate upside.
  • Property Characteristics: Features two buildings with 3 units each individually metered for gas and electricity.

OVERVIEW

2221 Griffin contains a varying unit mix of 1's and 2's, and a spacious 3 bedroom front unit with its own yard space. Each unit has its own dedicated parking space, individually metered, and the majority of units have in unit laundry. The property consists of two buildings, and is 83% leased with one vacancy. The current GRM is 10.12 and the current CAP Rate is 6.45%. Commanding strong rent and low expenses, this property provides sound financials for multifamily investors looking for a cash flowing asset in Lincoln Heights. Please do not disturb the tenants. Please reach out to request a showing.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$334 USD /SF

# OF UNITS

6

PRICE/UNIT

$258,333

CAP RATE

6.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

LARD3-HPOZ

APN/PARCEL ID

5204-019-017

ASK ABOUT THIS PROPERTY

Jonathan HasbunPivot CommercialMore Info
626-808-1031

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Jonathan HasbunPivot CommercialMore Info
626-808-1031

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.