$951,000 - 2016 Gates Street, Los Angeles

Los Angeles Home For Sale

Discover a true legacy property in the heart of Lincoln Heights Proudly held by the same family for 70 years, this well-maintained 5-unit residential investment is now available for the first time since 1955. With long-term, reliable tenants who consistently pay on time, this is the ideal opportunity for investors seeking stable, passive income in a high-demand rental area. The property features a charming front house along with four additional apartment units constructed in 1965. Over the years, the building has been thoughtfully updated and cared for. Apartments #1 and #3 were refreshed within the last five years, apartment #2 is tiled throughout, and apartment #4, as well as the front house, recently received new wall heaters. The front house's bathroom was also upgraded which included new vinyl flooring, the flooring was updated in the kitchen as well. The exterior has received fresh paint and new windows within the last five years. Major components have also been addressed: the roof is less than 10 years old, and the water heaters were recently replaced, giving the next owner strong operational confidence. Location is another standout feature. This property sits just a short walk from Lincoln Park and the USC Health Sciences Campus. It's also just 2 miles from Dodger Stadium and offers quick, easy access to Downtown Los Angeles, making it highly desirable for tenants. Whether you’re adding to your portfolio or securing your next long-term investment, this property presents a rare chance to own a dependable, income-producing asset in one of LA’s most centrally connected neighborhoods. Continue the level of care it has received, and it will continue to reward for years to come.