ActiveCommercial · sale

2314 W Pico Boulevard

Los Angeles, CA 90006

$1,695,000

  • 0.16 acres
  • Built 1922

Listed by Coldwell Banker Realty · MLS #26103162

Listing status & updates
MLS last changed
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Availability last checked
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2314 W Pico Boulevard, Los Angeles, CA 90006 · MLS #26103162

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A FEW THINGS TO NOTICE

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Year built

Built in 1922.

Property size

0.16 acres listed.

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THE PROPERTY

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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.

THE NEIGHBORHOOD

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2314 W Pico Boulevard, Los Angeles, CA 90006

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THE DETAILS

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Property type
CommercialSale
Category
Commercial
Year built
1922
Zoning
LAC2
Parcel
5056004004
HOA fee
$0.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

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Listing information

MLS #26103162 · California Regional MLS

Listing brokerage: Coldwell Banker Realty
Listing agent: Todd Bernstein

Listing status: Active. MLS last changed: not supplied. Availability last checked: not recorded. Confirm current availability and price with the listing agent.

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