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 $138k/unit nd $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 sta bilized. 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 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.

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on 2709 W Pico Blvd
in Los Angeles, CA
Presented by Cameron Samimi at
Lyon Stahl Investment Re, Inc.


Property MLS #SB24052600 from CRMLS

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+ Bedrooms

Bedrooms: 4

+ Bathrooms

Full Bathrooms: 36

+ Land Info

Lot Description: 0-1 Unit/Acre
Lot Size Acres: 0.3273
Lot Size Source: Assessor
Lot Size Square Feet: 14259

+ Multi-Unit Info

Number of Units: 43
Bedrooms in Unit-5: 1
Bedrooms in Unit-6: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1

+ Rental Info

Rent Control: Yes

+ Amenities and Community Features

Community Features: Urban

+ Other Property Info

Source Listing Status: Active
County: Los Angeles
Cap Rate: 6.22
Source Property Type: Residential Income
Area: 699 - Not Defined
Source Neighborhood: 699 - Not Defined
Number of Separate Electric Meters: 43
Number of Separate Gas Meters: 43
Number of Separate Water Meters: 1
Source System Name: C2C
+ Reveal Property Sale History

Listed 2024-04-01
$5,950,000
CRMLS

+ Commercial Info

Net Operating Income: 370074.00

+ Building and Construction

Total Square Feet Living: 35982
Year Built: 1924
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: front
Property Age: 100
Property Attached: Yes
Building Total Stories: 3
Structure Type: Apartment
Year Built Source: Assessor

+ Utilities

Sewer: Sewer: Public Sewer, Water Sewer Expense: 0.00
Water Source: Public

+ Display Complete School Details

Berendo Middle School is a public middle school located approximately 0.3 miles away.
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Los Angeles Elementary School is a public elementary school located approximately 0.5 miles away.
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West Adams Preparatory High School is a public high school located approximately 0.7 miles away.
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Saint Thomas The Apostle is a private elementary and middle school located approximately 0.2 miles away.
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