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5937 Avalon Boulevard, Los Angeles, CA

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5937 Avalon Boulevard

Los Angeles, CA 90003 - Mid-Cities Submarket

Property Type:Retail Sub Type:Storefront Retail/Residential Status:Existing Year Built:1920
Building Size:28,648 SF Land Area:.37 AC (16,283 SF)
For Sale Price:$3,995,000 Price/SF:$139.45
Cap Rate:8.40 %
Parking:Free Surface spaces are available; Ratio of .7/1,000 SF
Features:Bus Line, Signalized Intersection

Sale Notes:
Diversify your portfolio with this well maintained mixed-use building in southeast LA. The building was substantially renovated between 2004-2007. This property represents a unique opportunity to purchase a mixed-use building offering a diverse array of income streams. The building consists of 22 residential units (9 one bedroom units & 13 singles) and 10 commercial units. The commercial units include: a market/store, juice store/restaurant, discount retail store, hair salon, apparel manufacturing, & multiple warehouses. There is on-site coin laundry, potentially rentable secure storage rooms, and two warehouse spaces not currently leased. Approximate current Cap Rate is 6.2% and approximate GRM of 11.65, the Cap Rate and GRM can be improved after 2 units currently used by owner are vacated and leased out. There are also 2 vacant residential units and 1 vacant commercial unit (warehouse), which may or may not be leased prior to COE. Tenants pay their own utilities, except water and trash, each unit is separately metered for gas and electric. Buyer is advised to independently verify all aspects of the property. Zoned LACM for commercial/ofc/residential mixed-use. Price per SF: $139.

Mixed-use building with diversified revenue streams
Long term tenants
Potential income increase with laundry room and storage units
Well-maintained: substantially renovated from 2004-2007
22 residential units upstairs and 10 commercial units downstairs
Great potential to increase income

Financial Summary (Actual):
Year 2016 Operating Expenses $95,209
Scheduled Gross Income $342,960 Net Operating Income $247,750

John Aaroe Group
Jim Tripodes
(626) 792-4420

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