2314 W Pico BLVD, Los Angeles, CA 90006
2314 W Pico BLVD, Los Angeles, CA 90006
2314 W Pico BLVD, Los Angeles, CA 90006
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,695,000
Est. payment /mo
7,004 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 26103162

HOA Y/N No

Year Built 1922

Lot Size 7,004 Sqft

Property Description

BK SALE/DISTRESSED ASSET! Kidder Mathews and Coldwell Banker Commercial Realty are pleased to present 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.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAC2

Interior

Fireplace No

Building

Story 2

Water Public

Others

Tax ID 5056004004

Security Features Carbon Monoxide Detector(s),Fire Detection System,Smoke Detector(s)

Special Listing Condition Notice Of Default, Bankruptcy Property

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Listed by Todd Bernstein Coldwell Banker Realty #01816580

NEARBY SCHOOL & BUSINESS

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