3069 W Pico Blvd - Multi-Family FOR SALE


Los Angeles, CA 90006- Harvard Heights
$895,000 USD
310-463-2916
3069 W Pico Blvd, Los Angeles, CA for Sale
$895,000 USD
Multi-Family - FOR SALE
1/5
null | 6.31% Cap Rate

3069 W Pico Blvd
Los Angeles, CA 90006
Harvard Heights


HIGHLIGHTS

  • Centrally Located Mixed-Use with a ~1,149SF restaurant space, (2) 1BD/1BA units, and (1) studio unit
  • 100% Occupied, In-Place Income with Upside
  • Excellent Owner-User Opportunity

OVERVIEW

Mixed-Use Investment Opportunity on Pico Boulevard 3069 W. Pico Boulevard presents an opportunity to acquire a four-unit mixed-use property combining established commercial income with residential rental upside. The 2,549-square-foot property consists of (1) ±1,149SF restaurant space (2) one-bedroom/one-bath units (1) studio unit The units and restaurant provide investors with a diversified income stream from both commercial and residential uses, and a strong owner-user opportunity. Strong In-Place Income with Additional Upside The property currently generates approximately $94,428 in scheduled gross income, including billboard income, with an estimated $56,476 current NOI. At the $895,000 asking price, the investment is projected to deliver an approximately 6.31% current cap rate and 9.48 GRM. Residential rents offer additional room for growth. The two one-bedroom units currently average approximately $1,451 per month, compared with projected market rents of $1,650, while the studio is currently rented at $1,133, compared with a projected market rent of $1,300. The restaurant is currently generating $3,710 per month.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$352 USD /SF

# OF UNITS

4

PRICE/UNIT

$223,750

CAP RATE

6.31%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

LAC2

APN/PARCEL ID

5080-012-010

ASK ABOUT THIS PROPERTY

Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

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Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

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