1141 North Mission Road

Los Angeles, CA 90031

$4,500,000
Price
—
Beds
9,897 Sq. Ft.
$455 / Sq. Ft.
9,897
Sq. Ft.
$455
per Sq. Ft.

Description

A 32-unit mixed-use residential/SRO/retail community in Lincoln Heights neighborhood, Los Angeles. It offers a strategic location right across from multiple major hospitals and medical centers – Los Angeles General Hospital, USC Health Science Campus, LA County Department of Medical Examiner, and other health science related industries. It offers high CAP Rate of 6.14% and Cash-on-cash return of ±8.93% (buyer to verify). The property was built in 1926 and subject to the City of Los Angeles Rent-Stabilization...A 32-unit mixed-use residential/SRO/retail community in Lincoln Heights neighborhood, Los Angeles. It offers a strategic location right across from multiple major hospitals and medical centers – Los Angeles General Hospital, USC Health Science Campus, LA County Department of Medical Examiner, and other health science related industries. It offers high CAP Rate of 6.14% and Cash-on-cash return of ±8.93% (buyer to verify). The property was built in 1926 and subject to the City of Los Angeles Rent-Stabilization ordinance. It sits on 2 parcels totaling ±9897sf Building size and situated on a ±15,821SF square feet of land. The property is a 3-story building with open lot parking. Part of the ground floor units are leased to 2 retail/commercial tenants (restaurant), and the remaining portion of ground floor unit is set up for communal living kitchen and living room. The residential units are located on the 2nd and 3rd floors. The unit mix is as follows: 2 Studio units, 18 Single Room Occupancy units, and 10 Co-Living units. The co-living kitchen and living room area have been upgraded with high-end upgrades and appliances. It has common area laundry rooms (seller’s own units), and a common garden area. Parking is provided by 26 open spaces and 2 additional spaces that are reserved for the restaurant tenant’s trailer. The property is master metered for electricity and gas with RUBS in-place. There is an artistic mural on the side of the property that is bringing extra income. Nearby amenities include multiple major hospitals and health related industries. Property has excellent access to Chinatown, Little Tokyo, Arts District & Downtown Los Angeles area via local street or one of the freeways such as FWY 10, FWY 5, FWY 101.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495

Property Details for 1141 North Mission Road

View
City Lights
Parking Spaces Total
28
Private Pool
No
Cooling Type
Wall/Window Unit(s)
Total Units
32.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
9897

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321
Add your commute
LISTING UPDATED: 04/15/2024 09:55 AM

Property Details for 1141 North Mission Road

StatusActive
MLS #AR24005836
Days on Market114
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1926
Lot Size0.36 AC / 15,821 SF
CountyLos Angeles County

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321
Add your commute

Building Information for 1141 North Mission Road

Stories3Residences-Year Built1926Building Size-Lot Size0.36 AC / 15,821 SF

Payment Calculator

$24,558 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,558

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1141 North Mission Road

Income / Expense / Tax Details
Income Details
  • Gross Income: $486,125
  • Gross Scheduled Income: $486,125
  • Vacancy Allowance Rate: 5
  • Gross Operating Income: $461,819
  • Net Operating Income: $298,185
  • Gross Multiplier: 9.26
  • Cap Rate: 6.63
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $163,634
  • New Taxes Expense: $53,973
  • Fuel Expense: $6,754
  • Electric Expense: $16,613
  • Insurance Expense: $18,360
  • Maintenance Expense: $12,000
  • Professional Management Expense: $18,000
  • Trash Expense: $3,217
  • Water Sewer Expense: $10,146
  • Total Expenses: $167,232
Tax / Assessment Info
  • Tax Block: 10
  • Tax Tract Number: 0
  • Tax Census Tract: 1999.00
  • Tax Lot: 3
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community
Exterior Features
  • Construction Materials: Brick
  • Exterior Construction: Brick
  • Roof: Flat
  • Entry Location: ground
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Additional Parcels Description: 5210007002
  • Lot Features: Level with Street, Lot 10000-19999 Sqft, Irregular Lot, Near Public Transit
  • Number Of Units: 32
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Driveway
  • Uncovered Spaces: 28
  • Open Other Spaces Total: 28
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Driveway, Asphalt
Unit Information
Unit 1
  • Unit Type Units Total: 32
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $37,401
  • Unit Type Pro Forma: 42575
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 32
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Wall AC: 32

Property History for 1141 North Mission Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1141 North Mission Road

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Griffin Avenue Elementary School
PublicK to 5

Excel Charter Academy
Charter6 to 8

Abraham Lincoln Senior High School
Public9 to 12

Woodrow Wilson Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1141 North Mission Road is a mixed use property for sale in Los Angeles, CA 90031. This property was listed for sale on January 10, 2024 by Growth Investment Group Pasade, it's currently listed at $4,500,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Griffin Avenue Elementary School, Excel Charter Academy and Abraham Lincoln Senior High School. 1141 North Mission Road is a 0-bed, 0-bath, 9,897 sqft mixed use property built in 1926.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.