Los Angeles, CA 90006,2314 W Pico BLVD
Los Angeles, CA 90006,2314 W Pico BLVD
Los Angeles, CA 90006,2314 W Pico BLVD
Los Angeles, CA 90006,2314 W Pico BLVD
Los Angeles, CA 90006,2314 W Pico BLVD
Los Angeles, CA 90006,2314 W Pico BLVD
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$ 2,600,000
Est. payment | /mo

7,004 Sqft Lot


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$ 2,600,000
Est. payment | /mo
Save

7,004 Sqft Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR24143091

HOA Y/N No

Year Built 1922

Lot Size 7,004 Sqft

Property Description

We're proud to present the sale of 2314 W Pico Blvd. A Prime Value-Add Opportunity at the heart of the Pico Union Neighborhood. This submarket has been on the rise for years as more and more luxury developments pour into the area pushing a high occupancy rate in the last decade. The offering consists of 16-Units with a low price per SQFT ±$276 which offers a whopping Proforma CAP Rate of over ±8.52% and low Proforma GRM of ±8.46x (Buyer to verify)!

Built in 1922, this building consists of 16 exceptional units totaling ±9,408 SF of square footage on a sizeable ±7,003 SF lot. The property is an easily maintained two-story building, with a efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers spacious and functional layout which includes large full kitchens & bathroom with a large closet space. The building has undergone major capital improvements in the recent years which include: full electrical upgrade (service and main panel - 2019), earthquake retrofitted (2019), and new mini split A/C system for each unit. 2-Units have been fully upgraded: Paint, Flooring, Appliances, Cabinets and Countertops. (Buyer to Verify) and 4-Units have been updated with Paint, Flooring and Appliances. (Buyer to Verify)

Right off Pico Blvd & Magnolia Ave, located within 5-12 Minutes away from Koreatown, Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Country Club Park, Silver Lake, Echo Park, East Hollywood, and Historic Filipino town. 2314 W Pico Blvd is in perfect adjacency to many of Los Angeles trendiest boutique restaurants, coffee shops and upscale bars, It’s location also provides easy access to many of the city’s largest & strongest employers and major retailers. Some of employers include University of Southern California, Fashion Institute of Design & Merchandise, Crypto Arena, Koreatown Plaza, Los Angeles Convention Center, Los Angeles Financial & Arts District, Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, and American Career College. All of this while providing easy access to the 101 & 110 Freeways

Location

State CA

County Los Angeles

Area Krea - Koreatown

Zoning LAC2

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Sidewalks

Private Pool No

Building

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5056004004

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Abel Benitez • GIG Real Estate Inc. • 213-595-8105
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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(909) 334-2049

thomas@thomasryan.realestate

4016 Grand Ave Suite A # 1082, Chino, CA, 91710, United States

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2314 W Pico BLVD