Property Details
About this Property
We're proud to present the sale of 2314 W Pico Blvd. A Prime Value-Add Opportunity at the heart of the Pico Union Neighborhood. This submarket has been on the rise for years as more and more luxury developments pour into the area pushing a high occupancy rate in the last decade. The offering consists of 16-Units with a low price per SQFT ±$276 which offers a whopping Proforma CAP Rate of over ±8.52% and low Proforma GRM of ±8.46x (Buyer to verify)! Built in 1922, this building consists of 16 exceptional units totaling ±9,408 SF of square footage on a sizeable ±7,003 SF lot. The property is an easily maintained two-story building, with a efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers spacious and functional layout which includes large full kitchens & bathroom with a large closet space. The building has undergone major capital improvements in the recent years which include: full electrical upgrade (service and main panel - 2019), earthquake retrofitted (2019), and new mini split A/C system for each unit. 2-Units have been fully upgraded: Paint, Flooring, Appliances, Cabinets and Countertops. (Buyer to Verify) and 4-Units have been updated with Paint, Flooring and Appliances. (Buyer to Verify) Right off Pico Blvd & Magnolia Ave, located wi
MLS Listing Information
MLS #
CRAR24143091
MLS Source
California Regional MLS
Days on Site
113
Interior Features
Laundry
None
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
HOA Fee
$0
Contact Information
Listing Agent
Abel Benitez
GIG Real Estate Inc.
License #: 02173463
Phone: –
Co-Listing Agent
Han Chen
License #: 01749321
Phone: –
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
2314 W Pico Bld is a Residential Income in Los Angeles, CA 90006. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,600,000 and was built in 1922. This address can also be written as 2314 W Pico Bld, Los Angeles, CA 90006.
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Presently MLSListings.com displays Active, Contingent, Pending, and Recently Sold listings. Recently Sold listings are properties which were sold within the last three years. After that period listings are no longer displayed in MLSListings.com. Pending listings are properties under contract and no longer available for sale. Contingent listings are properties where there is an accepted offer, and seller may be seeking back-up offers. Active listings are available for sale.
This listing information is up-to-date as of July 12, 2024. For the most current information, please contact Abel Benitez
