Property consists of (3) apartments and (18) single room occupancy (SRO) units with common bathrooms. Attractive 4.5% CAP rate based on current income. Strong historical occupancy rates. Corner lot with high visibility. No onsite parking. Up-and-coming Lincoln Heights neighborhood Minutes from north-east of Downtown Los Angeles. Accessible by major freeways and public transportation.
Listing provided courtesy of
, Keller Williams Encino-Sherman
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Known for its hilly terrain, Montecito Heights has been dubbed the Wilderness in the City. Neighbored by El Sereno, Lincoln Heights, and Mount Washington, Montecito Heights is atop the Monterey Hills that divide the Los Angeles Basin from the San Gabriel Valley and provides spectacular city views. The community has always attracted artists and visionaries and Jackson Pollock is a former resident of the area.
Real Estate: Montecito Heights is full of older homes including Craftsman and bungalows. Many have been restored to preserve the unique charm of the area. The area also is home to several condominium complexes and apartments for rent are also available.
Community Life: The Ernest Debs Memorial Park is an urban preserve that is home to an Audubon Center and hosts many community programs and tours. The area is known for beautiful birds and falcons, eagles, owls, and other birds are often spotted.
Education: Montecito Heights is served by the Los Angeles Unified School District which includes Latona Avenue Elementary, Glen Alta Elementary, and Bushnell Way Elementary. The Los Angeles International High School is also located in the area.
Transportation: Montecito Heights can be accessed by the 110 Freeway. The area is served by the Gold Line at the Heritage Square station.
Local Attractions: Lummis House is a Rustic American Craftsman stone house built in the late 19th century, is on the National Register of Historical Places and was designated as Los Angeles Historic-Cultural Monument and a California Historical Landmark.
The Heritage Museum is a collection of preserved Victorian homes moved to the area to create a living history museum that offers tours and special events.
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