1817 W Pico Blvd 2,663 SF 100% Leased Retail Building Los Angeles, CA 90006 $900,000 ($337.96/SF) 5.03% Cap Rate

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.