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Listed by Cameron Samimi, DRE #02035763 • Lyon Stahl Investment Real Estate, Inc.
$ 5,150,000
Est. payment /mo
Active
2709 W Pico BLD Los Angeles, CA 90006
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26142935
Year Built 1924
Lot Size 0.327 Acres
Source California Regional MLS
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.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Interior
Laundry None
Exterior
Garage Spaces 1.0
Pool None
Building
Water District - Public
Others
Tax ID 5078033012
Special Listing Condition Not Applicable
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