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Los Angeles, CA 90006 2709 W Pico Boulevard

$5,950,000

2709 W Pico Boulevard Los Angeles, Ca - Image 12709 W Pico Boulevard Los Angeles, Ca - Image 22709 W Pico Boulevard Los Angeles, Ca - Image 3
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Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
  • MLS# SB24052600
  • 03/15/2024
  • Request Tour
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  • BedBeds • 4
  • BathBaths • 4
  • FootageSQFT • 35,982

Home Details

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.
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556

Interior Features for 2709 W Pico Boulevard

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixBoulevard
Total Stories3

Other Rooms

Entry Level1

General for 2709 W Pico Boulevard

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.22
Carport Y/NNo
CityLos Angeles
Community FeaturesUrban
CountyLos Angeles
Days on Market
DirectionsCorner of Pico Blvd and Fedora St
Electric Expense0.0
Entry Locationfront
Expected Active Date 2024-04-01
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income626943.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Conventional, Item1031Exchange, OwnerMayCarry
Lot Size Square Feet14259.0
MLS Area699 - Not Defined
MobileHomeRemainsYNNo
Net Operating Income370074.0
New ConstructionNo
Operating Expense238061.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NamePico
Tax Lot1
Total Units43
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1924
Year Built SourceAssessor

Exterior for 2709 W Pico Boulevard

Building Area Total35982.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre
Lot Size Acres0.3273
Lot Size Area14259.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters43
Number of Separate Gas Meters43
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking0.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $5,950,000
MLS#SB24052600
List Date 03/15/2024
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors