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2709 W Pico Blvd 43 Unit Apartment Building $5,150,000 ($119,767/Unit) 8.79% Cap Rate Los Angeles, CA 90006
Investment Highlights
- Mixed Use 43-Unit Building located in Pico Union (36 apartment, 7 commercial)
- Currently operated at a 8.79% CAP and 6.69 GRM
- Priced at only $119,767k/unit and $143.49/sqft
- (7) Commercial units broken down into (2) restaurants, (2) retail, (1) discount store, (1) salon and (1) upholstery store
Executive Summary
2709 Pico Blvd is
a 43-unit mixed use building located in the Pico Union neighborhood. This massive 35,982 sq.ft building is offered at only $119k/unit and $143/sqft. The property is currently operating at a 8.79% CAP and 6.69 GRM. There is still over 46% upside available once the property is stabilized. The property is Separately Metered for Gas and Electricity.
The building is comprised of (36) apartment units and (7) commercial spaces - it is broken down in to (4) 1-Bed/1-Bath, (32) Studio/1-Bath, (2) restaurants, (2) Retail, (1) Discount store, (1) Salon and (1) Upholstery Store. There are (5) Studio/1-bath units that are currently vacant, offering immediate upside in rental income.
1262 Fedora St is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.
a 43-unit mixed use building located in the Pico Union neighborhood. This massive 35,982 sq.ft building is offered at only $119k/unit and $143/sqft. The property is currently operating at a 8.79% CAP and 6.69 GRM. There is still over 46% upside available once the property is stabilized. The property is Separately Metered for Gas and Electricity.
The building is comprised of (36) apartment units and (7) commercial spaces - it is broken down in to (4) 1-Bed/1-Bath, (32) Studio/1-Bath, (2) restaurants, (2) Retail, (1) Discount store, (1) Salon and (1) Upholstery Store. There are (5) Studio/1-bath units that are currently vacant, offering immediate upside in rental income.
1262 Fedora St is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $119,767 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 8.79% | Building Size | 38,322 SF |
| Gross Rent Multiplier | 6.7 | No. Stories | 3 |
| No. Units | 43 | Year Built | 1924 |
| Property Type | Multifamily | Parking Ratio | 0.17/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C2, Los Angeles - general commercial | ||
| Price | $5,150,000 |
| Price Per Unit | $119,767 |
| Sale Type | Investment |
| Cap Rate | 8.79% |
| Gross Rent Multiplier | 6.7 |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 38,322 SF |
| No. Stories | 3 |
| Year Built | 1924 |
| Parking Ratio | 0.17/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C2, Los Angeles - general commercial |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Package Service
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 32 | $1,334 | - |
| 1+1 | 4 | $1,234 | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5078-033-012 | Total Assessment | $4,691,913 |
| Land Assessment | $817,523 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,874,390 | Tax Year | 2025 |
Property Taxes
Parcel Number
5078-033-012
Land Assessment
$817,523
Improvements Assessment
$3,874,390
Total Assessment
$4,691,913
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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2709 W Pico Blvd
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