2505 Hancock, Los Angeles, California 90031, Los Angeles, 90031 - 0 bed, 0 bath
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Los Angeles, California 90031
Analysis of 2505 Hancock, Los Angeles, California 90031 is currently available with a list price of $7,388,888. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1985 (39 years old), the property falls into the 'Fair' category due to its age and dated interior finishes. While the owner has performed essential system maintenance including a new roof overlay and electrical sub-panel replacements, the interior photos show basic tile flooring and older cabinetry that lack modern updates. It remains functional and move-in ready for tenants but requires cosmetic modernization.
Built in 1985, the property is subject to California’s AB 1482 rather than the more restrictive Los Angeles Rent Stabilization Ordinance (RSO), allowing for greater flexibility in rent adjustments and management.
The asset is ideally positioned near major institutional employers, including LAC+USC Medical Center and Keck Medicine of USC, ensuring a consistent and high-quality tenant base from the healthcare and education sectors.
Recent significant improvements, such as a new roof overlay and updated electrical sub-panels for all units, mitigate immediate maintenance risks and enhance the long-term net operating income.
Several nearby elementary schools, including Hillside and Murchison Street, have low ratings (2/10), which may limit the property's appeal to families prioritizing high-quality public education.
With 28 units situated on a 13,653 square foot lot, the high-density nature of the development may result in limited open space and potential parking challenges typical of urban multifamily assets.
We are pleased to present 2505 Hancock Street—a rare opportunity to acquire a 28-unit multifamily asset with significant capital improvements in the heart of Lincoln Heights, one of Northeast Los Angeles' most dynamic rental submarkets. This property is offered at an attractive 9.9x GRM and 6.3% Cap Rate. Built in 1985, the property is subject to California's AB 1482 statewide rent control regulations rather than the City of Los Angeles Rent Stabilization Ordinance. Ownership has completed significant capital improvements, including a new roof overlay and replacement of electrical sub-panels for all units, substantially reducing future capital expenditure requirements. Approximately half of the units feature desirable two-story loft layouts with expansive private patios. Ideally positioned near major employment centers, including LAC+USC Medical Center, Keck Medicine of USC, and California State University, Los Angeles, the property benefits from a deep and diverse tenant base driven by healthcare, education, and Downtown Los Angeles employment.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 1.0 |
| Square foot | 17,925 | 2,864 |
| Lot Size | 13,653 | 7,003 |
| Price | $7.39M | $1.58M |
| Price per sq ft | $412 | $319 |
| Built year | 1985 | 1929 |
| HOA | $0 | $907 |
| Days on market | 6 | 91 |
Jul 16, 2026
$7,388,888
Initial Listing
Dec 28, 1995
$600,000
Public Record