$1,695,000
FOR SALEActive2314 W Pico Boulevard
Los Angeles CA 90006
9,408
SF
Commercial
Type
1922
Built
$180/SF
Cost/SF
Listing Agent
Location Analysis
About This Property
BK SALE/DISTRESSED ASSET! Pico Apartments, a 16-unit multifamily investment opportunity located at 2314 W Pico Boulevard in the Harvard Heights neighborhood of Los Angeles. The property consists of 16 single units and is 100% occupied, providing investors with immediate in-place cash flow and long-term rental upside.Offered at $1,750,000, the property provides an attractive basis of $109,375 per unit and a 7.59% cap rate on current operations. Significant capital improvements have already been completed, including a seismic retrofit, mini-split A/C in every unit, and a full electrical upgrade with individual meters. Eight of the 16 units currently rent for less than $1,000 per month, creating long-term income growth potential as units turn over and rents may be repositioned toward prevailing market levels, subject to applicable rent-control regulations.Strategically positioned between Koreatown, Downtown Los Angeles and the USC/Exposition Park corridor, the property offers a 91 Walk Score and convenient access to major employment, entertainment and educational destinations.
Property Information
Property Overview
Commercial
Property Type
Active
Status
LAC2
Zoning
0.1608 acres
Lot Size
9,408 SF
Square Footage
$180.17/SF
Price per SF
7.59%
Cap Rate
1,922
Year Built
2
Stories
Property Highlights
N/A Property
Prime Location with High Visibility
7.59% Cap Rate
Location Analysis
Building Details
Zoning & Use
Utilities & Systems
Investment Metrics
7.59%
Cap Rate
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CRMLS
MLS# 26103162
Listed:
Nalren refreshed:
Last updated
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Listed by: Coldwell Banker Realty
Equal Housing Opportunity
Advertising Broker: Nalren Corp (CA DRE #02423715)
Licensed in the state of California
Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.