1817 W Pico Blvd - Storefront Retail/Residential FOR SALE


Los Angeles, CA 90006- Pico-Union
$900,000 USD
310-300-2838
1817 W Pico Blvd, Los Angeles, CA for Sale
$900,000 USD
Storefront Retail/Residential - FOR SALE
1/7
null | 5.03% Cap Rate

1817 W Pico Blvd
Los Angeles, CA 90006
Pico-Union


HIGHLIGHTS

  • Highly Sought-After Location | 4 Blocks from Crypto Arena
  • Incredible Owner/User Opportunity with Additional Rental Income
  • Mixed-Use Asset | 2 Retail Storefronts & 3 Residential Units
  • Value Add Opportunity | Over 100% Potential Upside in Rents
  • Attractive Price Per SF: $337.96 / SF of Building & $144.25/ SF Lot
  • Stable Income of 5.03% | Pro Forma 9.91%

OVERVIEW

1817 W. Pico Boulevard is a mixed-use property located in Downtown Los Angeles, approximately four blocks away from the renowned Crypto Arena. The property consists of two retail storefronts and three residential units. The building itself spans around ±2,663 square feet, situated on a ±6,239 square foot lot. Currently, there is only one vacant residential unit within the building; however, with the storefronts being month-to-month and residential units all being rented significantly below market, this allows an investor the opportunity to add value. The investor can negotiate new lease terms with the existing tenants, potentially raising the rental rates to market levels or alternatively, the investor can choose to re lease the spaces altogether, allowing for new tenants to occupy the retail storefronts and residential units. This offers the opportunity to secure higher rents from new tenants, further maximizing the property's income potential. In addition, the current retail storefronts being on month-to-month terms, this opportunity can also be ideal for an owner user looking to occupy the retail stores for their own business, while collecting rental income from the remainder of the units, helping toward their monthly expense. Given the prime location near the Crypto Arena and the potential to double the current income, this property presents a tremendous opportunity for an investor looking to add value and generate higher returns.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$338 USD /SF

CAP RATE

5.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,239 SF

ZONING

LACM

APN/PARCEL ID

5137-034-020

ASK ABOUT THIS PROPERTY

Daniel HirthThe Hirth Group of KWMore Info
310-300-2838

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Daniel HirthThe Hirth Group of KWMore Info
310-300-2838

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.