Former Motel 93% Vacant | Pro Forma Over 6.2% 4721 Lincoln Ave

Colliers International is pleased to present a rare value-add investment opportunity at 4722 York Blvd and 4721 Lincoln Ave, located in the gentrified neighborhood of Highland Park, California. Offered for the first time in over 35 years, this property—formerly the York Motel—consists of twelve large residential units and one commercial office/retail space, providing investors the chance to generate substantial returns by operating it as a multifamily and retail property or redeveloping it into alternative uses such as an affordable housing.
Built in 1966 and totaling 10,180 square feet, this 13-unit property offers a versatile unit mix, including six 2-bedroom/2-bathroom units, two 2-bedroom/1-bathroom units, three 1-bedroom/1-bathroom units, one studio, and one commercial retail/office space. All of the units will be delivered vacant except for a 1-bedroom unit with tenant but no lease agreement. The property features an on-site laundry facility and 30 parking spaces, including 2 garage and 4 tuck-under spots. The owner has also completed the required soft-story retrofit for Los Angeles County compliance.
Situated on two contiguous parcels totaling 0.44 acres, this property offers additional flexibility. An adjacent single-family parcel at 4717 Lincoln Ave is available for purchase, creating a combined lot size of 0.57 acres, offering expanded development potential.
With 12 out of 13 units vacant, investors have the opportunity to immediately renovate and achieve high rental income. The property boasts a Pro Forma CAP rate of over 6.2%, with further income potential from the addition of up to three accessory dwelling units (ADUs), subject to city approval and buyer verification.
Highland Park, much like nearby Echo Park, Eagle Rock, and Silver Lake, has seen rapid gentrification over the past decade, making it a highly desirable rental market. The area has an average household income of approximately $120,000 within a 1-mile radius. Residents benefit from proximity to Occidental College, trendy shops, restaurants, art galleries, and bars along York Blvd and Figueroa Street. Additionally, the property is conveniently located near the Highland Park Metrolink station and major freeways, including the 110 and 5, providing quick access to Downtown Los Angeles.