Pat Owen Realty
Listed by Pat Owen Realty
$688,900
2312 Lincoln Park
Details
APN 5211014021
Property Type Multifamily
Sub Type Apartment Building
Units 3
Cap Rate 2.80%
Buildings 1
Acreage 0.334
Zoning Assessor
Multifamily | 2.80% CAP | 3 Units
Marketing description
Investor GOLD MINE! Not only do you get three 2/1 units, but the lot is zoned R3 and most properties on this side of the block are 8+ units! The lot is flat in front, but sloped in the rear, so you have building potential on the hill to capture amazing city lights views, including Chavez Ravine and Catalina! If it were renovated and rented at market value then this property is easily worth 1.3M, but add more units or a dream house on the hill and you could be looking at millions of dollars in property value! There is a down-side... Two of the three units are occupied and pay way under market rent. The third unit is occupied by a relative of the former tenant and has not paid rent since the tenant moved out, so he is considered a squatter. A 3-day Notice was served already. Both paying tenants are open to discuss relocation assistance. The upside is incredible, so hurry and make your offer subject to interior inspection TODAY!!!
Listing Contacts
Pat Owen Realty
Listed by Pat Owen Realty
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