2314 W Pico Boulevard,
Home For Sale
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 within 5-12 Minutes away from Koreatown, Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Country Club Park, Silver Lake, Echo Park, East Hollywood, and Historic Filipino town. 2314 W Pico Blvd is in perfect adjacency to many of Los Angeles trendiest boutique restaurants, coffee
Property Details
Additional Information
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- County:
- Los Angeles
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- Zip:
- 90006
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- MLS® #:
- AR24143091
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- Lot Size:
- 0.16
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- Neighborhood:
- LOS ANGELES (90006)
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Listing information last updated on July 12th, 2024 at 9:16pm PDT.