2709 W Pico Boulevard, Los Angeles, CA 90006
- $5,150,000
- List Price
- $5,150,000
- Status
- ACTIVE
- MLS#
- SB26142935
- Year Built
- 1924
- Lot Size
- 14,259
- Acres
- 0.33
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 27
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
Property Description
2709 Pico Blvd is a 43-unit mixed use building located in the Pico Union neighborhood. This massive 35,982 sq.ft building is offered at only $119k/unit and $143/sqft. The property is currently operating at a 8.79% CAP and 6.69 GRM. There is still over 46% upside available once the property is stabilized. The property is Separately Metered for Gas and Electricity. The building is comprised of (36) apartment units and (7) commercial spaces - it is broken down in to (4) 1-Bed/1-Bath, (32) Studio/1-Bath, (2) restaurants, (2) Retail, (1) Discount store, (1) Salon and (1) Upholstery Store. There are (5) Studio/1-bath units that are currently vacant, offering immediate upside in rental income. 1262 Fedora St is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 43
- Gross Scheduled Income
- $769,216
- Operating Expense
- 293549
Listing courtesy of Listing Agent: Cameron Samimi (cameron@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.