2314 W Pico Blvd | Los Angeles, CA 90006
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- LoopNet Team
2314 W Pico Blvd
Los Angeles, CA 90006
16-unit Value Add with over 9% Proforma CAP · Multifamily Property For Sale
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16 Units
INVESTMENT HIGHLIGHTS
- Excellent rental upside of about ±64% and over ±9% Proforma CAP Rate and ±8.15x Proforma GRM; Can be delivered with 2 Vacancies for immediate turnover
- Nearby major employers: Good Samaritan Hospital, The Ritz Carlton, University of Southern California, Fashion Institiute of Design & Merchandise
- Recent major capital improvements: eartquake retrofitted, new mini split A/C systems for each unit, full electrical upgrade (service + main panel)
- STRONG Central Location! Perfectly adjacent to Downtown Los Angeles, Harvard Heights, Mid-City, MacArthur Park, University Park and Koreatown.
- Walk Score of 91 (Walkers Paradise); Efficient Unit Mix (16) large studios of about ±500 SQFT each.
- Functional two-story layout with spacious and functional unit layout
PROPERTY FACTS
| No. Units | 16 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 9,408 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built/Renovated | 1922/2022 |
| Zoning | C2, Los Angeles | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 9,408 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1922/2022 |
| Zoning | C2, Los Angeles |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Granite Countertops
- Hardwood Floors
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | 588 |
PROPERTY TAXES
| Parcel Number | 5056-004-004 | Improvements Assessment | $510,000 |
| Land Assessment | $2,142,000 | Total Assessment | $2,652,000 |
PROPERTY TAXES
Parcel Number
5056-004-004
Land Assessment
$2,142,000
Improvements Assessment
$510,000
Total Assessment
$2,652,000
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