2105 Keith St, Los Angeles, CA 90031

Nov 13

Written By Jake Glaser

4-Plex with Room for 4 ADUs in Lincoln Heights | Fully Non-Contingent Escrow

Sold: $650,000

Property Highlights

Closed for $650,000: $162,500 / Unit, $207.47/SF, 4.53% Cap Rate & 11.90 GRM
Value-add opportunity with significant redevelopment upside
Purchased by a local developer focused on renovation and expansion potential
Fully non-contingent deal from Day 1 of Escrow
Craftsman style 4-unit building in Lincoln Heights
Unit mix consists of (4) 1BR/1BA units averaging 783 SF
Closed with one unit to be delivered vacant
Large 7,512 SF lot (approx. 50’ x 150’) with a vacant backyard pad (70’ x 50’) perfect for additional units
Can build up to (4) detached ADUs per CA state SB-1211
Nearby to the USC Health Sciences Campus and Los Angeles General Medical Center
Separately metered for gas and electricity
Minutes from Highland Park, Echo Park, and Boyle Heights - all strong rental submarkets with thriving culinary and entertainment scenes - including Dodgers Stadium

The Deal Story

The Glaser Group is proud to announce the successful closing of 2105 Keith Street, a charming Craftsman-style four-unit apartment building located in the historic Lincoln Heights neighborhood. Originally constructed over 135 years ago, the property featured significant deferred maintenance, making it an ideal candidate for a value-add and redevelopment-focused buyer.

The Glaser Group represented the Seller, who had recently moved out of the country and came to our team after unsuccessfully listing the property with another broker. Seeking a clear exit strategy, the Seller relied on our expertise to reposition the opportunity around its future potential. Despite the property’s age and deferred maintenance, our team generated a fully non-contingent offer from the buyer, executing a smooth and credit free transaction.

The Buyer was a local developer who plans to renovate the existing units and fully utilize the expansive rear portion of the lot for additional development. The Buyer was drawn to the property’s lot size, density potential, and proximity to major employment centers, including the USC Health Sciences Campus and Los Angeles General Medical Center.

The property was comprised of (4) one-bedroom / one-bath units and sat on a 7,512 square foot lot. A major highlight was the large vacant backyard pad, approximately 70’ x 50’, which provided the potential to construct up to four detached ADUs under SB-1211 (buyer to verify).

This transaction highlights our team’s ability to successfully execute sales involving older assets, redevelopment potential, and out-of-state ownership.

If you’re considering a sale or purchase, contact The Glaser Group at (310) 230-5157.