2505 Hancock St, Los Angeles, CA, 90031
About This Home
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.
Getting Around
Very Walkable
Good Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1985
Type & Style
- Home type: MultiFamily
- Property subType: Mixed Use
Interior
Appliances
- Laundry features: Common Area
Bedrooms & Bathrooms
- Bedrooms: 46
- Bathrooms: 32
Features
- Common walls with other units/homes: No Common Walls
Interior Area
- Total structure area: 17,925
- Total interior livable area: 17,925 sqft
Property
Details
- Parcel number: 5208002018
- Special condition: Standard
Features
- Entry location: Ground
- Pool features: None
Lot
- Lot size: 0.31 Acres
- Features: 0-1 Unit/Acre
Parking
- Total spaces: 29
- Parking features: Controlled Entrance
- Has garage: Yes
- Attached garage spaces: 29
- Covered spaces: 29
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Heat Wave
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in Los Angeles County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $37,362 | $448,344 |
| Home Insurance * | $1,273 | $15,276 |
| Property Taxes | $4,125 | $49,500 |
| Electricity | $3,843 | $46,125 |
| Total | $46,603 | $559,236 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-16 | Listed for sale | $7,388,888 |
| 2021-12-08 | Listing removed | -- |
| 2021-09-07 | Listed for rent | $2,050 |
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