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    The Largest CRE Database in the US with Over 1 Million Listings

    2122 Thomas St Lincoln Heights, CA 90031

    Sponsored
    For Sale
    Under Contract
    $1,189,000

    Victorian, Quadruplex - Lincoln Heights, CA

    Type:Quadruplex
    Property size:
    4,489 SF
    Lot size:
    7,501.00 Acres
    Days on Market:
    7
    Last Refresh:
    Jan 23 at 12:06 am

    Property Features for 2122 Thomas St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Active Under Contract
    Zoning
    LARD3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    9
    Bathrooms
    4
    APN
    5211007015
    Exterior features
    Community Features Included: Park, Sidewalks, Urban, Front Yard, Lot 6500-9999
    Size
    4,489 SF
    Lot size
    7,501.00 Acres

    Utilities

    Heating system
    Wall Furnace
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1890
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Laminate
    Roof type
    Composition, Shingle
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Pablo Aspiazu

    HOMEQUEST REAL ESTATE CORP (909) 606-0888 [email protected]

    Listing agent Pablo Aspiazu (909) 606-0888 License #01446520

    Listing date Jan 17, 2026

    MLS# PW25152221 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lincoln Heights Quadplex with ADU Potential

    This multi-family property in Lincoln Heights features two structures on a single lot, offering a combined living space of 4,793 square feet. The front duplex, totaling 2,991 square feet, includes Unit A with 2 bedrooms and 1 bathroom, and Unit B with 3 bedrooms and 1 bathroom, which has been recently remodeled. The rear duplex, encompassing 1,802 square feet, consists of Unit C and Unit D, each with 2 bedrooms and 1 bathroom. The property also includes a 467 square foot basement approved for Accessory Dwelling Unit (ADU) conversion. Situated on a lot of approximately 0.17 acres, this property is zoned LARD3. Located in Lincoln Heights, the property is near Downtown Los Angeles, parks, cultural attractions, and dining options. This quadplex presents an investment opportunity with ADU expansion potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln Heights
    County
    Los Angeles
    State
    California
    Longitude
    -118.20501
    Latitude
    34.06993

    Nearby Similar for Sale

    • $1,570,000

      Lincoln Heights Multifamily Investment Opportunity

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    • $30,830,000
      51,722 SF

      Lincoln Heights Office/Medical Building

      Office/medical building for sale, 100% occupied by three tenants.
      3303-3331 N Broadway, Lincoln Heights, CA 90007
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four units with ADU opportunity in Lincoln Heights.
    Where is this quadplex located?
    The property is located at 2122 Thomas St Lincoln Heights, CA.
    What is the asking price?
    The asking price for this property is $1,189,000.
    What are key features of this property?
    This property features: - Four Units plus ADU Opportunity: Two separate structures on one lot offer immediate rental income and future expansion potential.; - Basement Approved for ADU Conversion: **467 sq. ft. basement already approved for conversion into an Additional Dwelling Unit.**; - Recently Remodeled Unit: Unit B (3 Bed / 1 Bath) has been recently remodeled.
    (909) 606-0888
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    2122 Thomas St Lincoln Heights, CA 90031
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    Lincoln Heights, CA 90031
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2122 Thomas St Lincoln Heights, CA 90031
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    We can help!
    Listing Contact
    Pablo Aspiazu
    Real Estate License ID: 01446520
    (909) 606-0888
    Learn more
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