2303 Alta Street

2303 Alta St, Los Angeles, CA 90031, USA

For Sale

$750,000

Property Description

Marcus and Millichap is pleased to present a three (3) unit multifamily property located at 2303 Alta Street in Los Angeles, California. The subject property is situated in a quiet Lincoln Heights location, on a corner lot south of North Broadway and west of Lincoln Park Avenue.

Lincoln Heights is a neighborhood located in the northeastern region of Los Angeles County, approximately five (5) minutes away from Los Angeles State Historic Park. Located on bluffs overlooking the Los Angeles River, it was the home to some of the city’s most notable residents, who built numerous Victorian mansions, many of which have been preserved under the city’s historic preservation program. Despite this, the median age for residents in Lincoln Heights in 2021 was thirty-four (34). It is a densely populated, youthful area with many prospective tenants looking for an entry point into Downtown. This spillover from Downtown has marked the neighborhood as up-and-coming, with many new business developments and employment opportunities on the rise. Lincoln Heights consists of fifteen (15) public schools, three (3) private schools, and one (1) public library. Lincoln Heights is well located to serve as a home for people who worked in the industrial areas lining the Los Angeles River.

Built in 1953, this property contains a great unit mix of one (1) two bedroom / one bathroom unit, one (1) two bedroom / one bathroom unit with a bonus den, and one (1) three bedroom / two bathroom unit. These units are spread across three (3) detached houses on a very large 8,137 square foot corner lot. The tenants currently pay for all utilities. Residents will enjoy the dominant access from the subject property to the commercial corridor on North Broadway. In this pocket tenants will find restaurants, shopping, and other retail amenities. Some of these amenities include Raspados Nayarit, Kailey’s, BurgerIM, and Maracas Cafe and Catering. The property also acts as a transportation hub that provides easy access to Downtown Los Angeles within short driving distance, the -110, -5, and -10 freeways. Given the large lot size, the property also features plenty of on-site parking spaces.

Situated in a quiet Lincoln Heights location, this offering presents an excellent opportunity for any investor to capitalize on incredible rental upside in a quiet, lush, and serene pocket of Los Angeles.

Contact Agent

Jason Tuvia / Kian Maronde

818.212.2735

Unit Mix

One (1) Two Bedroom / One Bathroom Unit, One (1) Two Bedroom / One Bathroom Unit with a Bonus Den, and One (1) Three Bedroom / Two Bathroom Unit

Property Type

Multifamily

Submarket

Price

Size

2,710 SF

Total Units

Year Built

1953

Property Location

2303 Alta St, Los Angeles, CA 90031, USA

Property Description

Marcus and Millichap is pleased to present a three (3) unit multifamily property located at 2303 Alta Street in Los Angeles, California. The subject property is situated in a quiet Lincoln Heights location, on a corner lot south of North Broadway and west of Lincoln Park Avenue.

Lincoln Heights is a neighborhood located in the northeastern region of Los Angeles County, approximately five (5) minutes away from Los Angeles State Historic Park. Located on bluffs overlooking the Los Angeles River, it was the home to some of the city’s most notable residents, who built numerous Victorian mansions, many of which have been preserved under the city’s historic preservation program. Despite this, the median age for residents in Lincoln Heights in 2021 was thirty-four (34). It is a densely populated, youthful area with many prospective tenants looking for an entry point into Downtown. This spillover from Downtown has marked the neighborhood as up-and-coming, with many new business developments and employment opportunities on the rise. Lincoln Heights consists of fifteen (15) public schools, three (3) private schools, and one (1) public library. Lincoln Heights is well located to serve as a home for people who worked in the industrial areas lining the Los Angeles River.

Built in 1953, this property contains a great unit mix of one (1) two bedroom / one bathroom unit, one (1) two bedroom / one bathroom unit with a bonus den, and one (1) three bedroom / two bathroom unit. These units are spread across three (3) detached houses on a very large 8,137 square foot corner lot. The tenants currently pay for all utilities. Residents will enjoy the dominant access from the subject property to the commercial corridor on North Broadway. In this pocket tenants will find restaurants, shopping, and other retail amenities. Some of these amenities include Raspados Nayarit, Kailey’s, BurgerIM, and Maracas Cafe and Catering. The property also acts as a transportation hub that provides easy access to Downtown Los Angeles within short driving distance, the -110, -5, and -10 freeways. Given the large lot size, the property also features plenty of on-site parking spaces.

Situated in a quiet Lincoln Heights location, this offering presents an excellent opportunity for any investor to capitalize on incredible rental upside in a quiet, lush, and serene pocket of Los Angeles.

Contact Agent

Jason Tuvia / Kian Maronde

818.212.2735

(818) 448-4415

CalBRE #01772495

Unit Mix

One (1) Two Bedroom / One Bathroom Unit, One (1) Two Bedroom / One Bathroom Unit with a Bonus Den, and One (1) Three Bedroom / Two Bathroom Unit

Property Details

Property Type

Multifamily

Submarket

Lincoln Heights

Price

$750,000

Price per Unit

$250,000

Price per SF

$276.75

Status

For Sale

Size

2,710 SF

Total Units

3

Year Built

1953

Property Location

2303 Alta St, Los Angeles, CA 90031, USA