Listing provided courtesy of Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.. Last updated 2024-05-02 08:11:23.000000. Listing information © 2023 CRMLS.
Asking Price: $5,950,000
2709 Pico, Los Angeles CA 90006
Community: 699 - Not Defined
Status: Active
This Apartment property was built in 1924 and is priced at $5,950,000. Please see the additional details below.
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.