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4,161 sqft

$1,628,000

2232 Workman, Los Angeles CA, 90031

Price per sqft$391.25
Built in1890
Property size4,161 sqft
Property typeCondominium
Listed by Clayton Tom CA DRE# 01707471 with Act Realty Group 323-481-0691

Overview

Active

Listed Apr 14, 2026

Updated Aug 19

Rare value-add opportunity in Lincoln Heights featuring a 5-unit property with significant vacancy, allowing a new owner to establish market rents from day one and implement a tailored lease-up strategy. Current income reflects existing vacancy, offering a clear path to repositioning and increased returns over time. Property consists of a desirable unit mix including multiple 2-bedroom units and one 3-bedroom unit, appealing to a broad tenant base. Vacancy provides operational flexibility, with no widespread tenant displacement required; one unit may require relocation depending on the buyer’s plan. All units are separately metered for gas and electricity, with a single water meter for the property, supporting efficient management and expense control. Market rent potential supports meaningful upside upon stabilization, making this an ideal opportunity for investors seeking a value-add, lease-up play with long-term income growth.

$10,831/mo

Est. mortgage payment based on a $1,628,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
OC26080663

Interior Features

Heating
Yes
Basement
No

Exterior Features

Lot Size
0.23 Acres

Other Property Details

55+/Senior Community
No
MLS provider logo

Listed by Clayton Tom CA DRE# 01707471 with Act Realty Group 323-481-0691

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/19/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2026 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 8/19/2026 at 11:39 PM UTC Last Checked: 11:39 PM UTC

 

 

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