Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
310-425-9838
Seller financing available at 4% IO with 40% Down! 2709 Pico Blvd is a 43-unit mixed use building located in the Pico Union neighborhood. This massive 35,982 sqft building is offered at only $138k/unit and $165/sqft. The property is currently operating at a 6.22% CAP and 9.49 GRM. There is still over 39% upside available once the property is stabilized. The property is separately metered for gas and electric. The building is comprised of (36) apartment units and (7) commercial spaces - it is broken down in to (4) 1Bed+1Bath, (32) Studio+1Bath, (2) restaurants, (2) retail, (1) discount store, (1) salon and (1) upholstery store. There are (4) studio/1-bath units that are currently vacant, offering immediate upside in rental income. 2709 Pico Blvd 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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Water Source : Public
Sewer : Public Sewer
Year Built: 1924
Building Area Total: 35,982
None
None
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3273
Lot Size Source: Assessor
Lot Size Square Feet: 14259
Original List Price: 5,950,000
Listing Contract Date: 2024-03-15
Listing Agreement: Exclusive Right To Sell
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 699 - Not Defined
Directions: Corner of Pico Blvd and Fedora St
Source Property Type: Residential Income
Area: 699 - Not Defined
Property SubType: Apartment
Property Age: 100
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: front
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1637 S Vermont Avenue, Los Angeles, CA,90006 | $2,600,000 | -- | -- | -- | 12750 Sqft |
1833 W Pico Boulevard, Los Angeles, CA,90006 | $1,350,000 | -- | -- | -- | 6247 Sqft |
1225 S Harvard Boulevard, Los Angeles, CA,90006 | $1,200,000 | -- | -- | -- | 5918 Sqft |
1661 S Normandie Avenue, Los Angeles, CA,90006 | $1,200,000 | 2 | 1 | 3,396 | 6208 Sqft |
1421 Courtland Avenue, Los Angeles, CA,90006 | $900,000 | -- | -- | 2,087 | 3941 Sqft |
1144 Elden Avenue, Los Angeles, CA,90006 | $3,000,000 | 18 | -- | 9,758 | 7000 Sqft |
1125 S Lake Street, Los Angeles, CA,90006 | $968,000 | 9 | 4 | 4,117 | 8579 Sqft |
920 S Kenmore Avenue, Los Angeles, CA,90006 | $1,350,000 | 6 | -- | 3,389 | 6750 Sqft |
943 S Normandie Avenue #1, Los Angeles, CA,90006 | $420,000 | 1 | 1 | 338 | 4140 Sqft |
910 S Catalina Street, Los Angeles, CA,90006 | $1,950,000 | 16 | -- | 6,116 | 7752 Sqft |
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ByOwner last updated this listing 06/11/2024 @ 11:13
MLS: SB24052600
LISTED BY: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.