2 Homes on 1 Lot in Lincoln Heights Sold for $540,000
Rear Home Delivered Vacant!
13.8 GRM – 5.4% CAP
Trust Portfolio Sale
Five Offers Generated for the Seller!
This was the final of four properties to be sold as part of a portfolio trust sale. The occupied home on the property was in need of extensive repair (including foundation work) and has extremely long term tenants living in it. However, the rear home is vacant and the location is excellent. The property was sold to someone who works in a nearby hospital and will be renting the vacant unit to co-workers and relocating into the occupied home. Even despite the low rents and deferred maintenance, Dana was able to obtain top dollar for the property and close before year end so her client can close out the trust in 2017. This is the Coronado Real Estate Group’s 4th closing in Lincoln Heights in 2017, with more coming soon!
Property values and rents in Lincoln Heights have been steadily increasing – Call Dana for a FREE Market Evaluation on your property. You may be pleasantly surprised at what someone will pay you for it!
1914 HANCOCK ST | LINCOLN HEIGHTS | 90031
The Coronado Real Estate Group is pleased to present a unique opportunity to purchase Two Homes for the Price of One in Lincoln Heights! A deal not to be missed – located in a prime location with views of the DTLA Skyline from your living room and only about a 1/2 mile from LAC+USC Medical Center & Keck Hospital of USC and Hazard Park which just received a $1.1 Million dollar upgrade!
The least expensive home in Lincoln Heights over 900 SF is currently $575,000 – Hancock is an opportunity to purchase two homes for just $287,500 each! Prices in this area are rising fast to keep up with the incredible demand for affordable homes in Northeast LA and near DTLA. Excellent portfolio addition or owner-user opportunity.
1914 Hancock Street in Lincoln Heights is an opportunity to buy into a thriving community, poised for an increase in property values and surrounded by shops, schools and amenities! The spacious lot is just shy of 6,000 SF and holds two detached homes with garage and open parking for each. The Rear Home is 3BR + 2BA and was renovated in recent years to include updated plumbing, electrical, roof, and interior improvements to the kitchen and baths. The home has a great room living area with an archway and peek-a-boo views of the massive DTLA skyline from the window. Two of the bedrooms have original hardwood floors, and the master is en suite with a private bath. Ready to move in and ideal for a family or young couple! A private front courtyard separates the two homes and adding a privacy fence would make it the perfect spot for a summer BBQ or evening lounge area, and the entire property is fenced so don’t forget about rover! Built in 1904, the front home is 3BR + 1BA and full of character with archways, built-ins and a decorative fireplace detail. Currently tenant occupied at $960/month, the home would provide the new owner supplemental income to pay off the mortgage quickly – making this property a solid investment for your financial future.
The Hancock 2 for 1 is situated near the corner of Main St and Hancock in prime Lincoln Heights. This location is thriving as the nearby LAC+USC Medical Center and Keck Hospital of USC provide community members a consistent source of quality employment. The surrounding neighborhoods of Cypress Park and Montecito Heights were voted LA’s Hottest Real Estate Neighborhoods for 2017 (#1 and #2 ), giving Lincoln Heights a great chance to be next! USC has already invested $1.1 Million dollars to improve the nearby Hazard Park and Recreation Center with new jogging paths, outdoor fitness zone, toddler zone, updated tennis and basketball courts, and $100,0000 youth sport’s program, and Fit Families – an exercise and nutrition program every Saturday Morning! Other community features include the Lincoln Park Lake, Skatepark, Plaza De La Raza, multiple art galleries, schools, and gems like Correa’s Market where you can find fresh produce and a carniceria and Los Tres Cochinitos where traditional taste and portion size will satisfy the whole family. Nearby is a Brewery Artwalk and restaurant, Stronghold Rock Climbing Gym with summer camp and even an urban winery! Plus, hope in the car and be at Dodger Stadium in about 10 minutes! Easily accessible by major freeways the 5 and 10 and public transportation.
*All information provided to be deemed reliable but not guaranteed. Buyer to complete all investigations into the property and/or any matters that may or may not affect the property independently and to their own satisfaction.
*Property being sold in a portfolio of four properties, all with the potential to be sold together or separately.