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3714 Pico Blvd 1 Unit Apartment Building $2,590,000 ($2,590,000/Unit) 6.18% Cap Rate Los Angeles, CA 90019
INVESTMENT HIGHLIGHTS
- Use code for boarding/rooming houses, apartment hotels, and hostels
- Located Adjacent to Mid-City, Culver City, Koreatown, and DTLA
- Cash Cow-MIxed Use Zoning
- Significant Rental Upside Potential
EXECUTIVE SUMMARY
Compass is pleased to present the opportunity to acquire a mixed-use commercial income property in the Arlington Heights neighborhood of Los Angeles. This property boasts commercial zoning with a use code for boarding/rooming houses, apartment hotels, and hostels- offering incredible flexibility and income potential. The front building currently features 11 bedrooms and 6 bathrooms, in addition to 4 studios on the side and two 2-bedroom, 1-bathroom units in the rear. The second building features a duplex, each unit with 2 bedrooms and 1.5 bathrooms. In total, the property boasts 23 bedrooms and 11 bathrooms. With rents currently below market rates, there is tremendous potential for the right buyer to convert this into a cash cow through creative strategies by leveraging the unique use code and zoning.
PROPERTY FACTS
| Price | $2,590,000 | Property Subtype | Apartment |
| Price Per Unit | $2,590,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.18% | Lot Size | 0.21 AC |
| Sale Condition | 1031 Exchange | Building Size | 5,854 SF |
| Gross Rent Multiplier | 12 | No. Stories | 2 |
| No. Units | 1 | Year Built | 1921 |
| Property Type | Multifamily | Parking Ratio | 1.02/1,000 SF |
| Zoning | LAC4 - Los Angeles Commercial District | ||
| Price | $2,590,000 |
| Price Per Unit | $2,590,000 |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12 |
| No. Units | 1 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 5,854 SF |
| No. Stories | 2 |
| Year Built | 1921 |
| Parking Ratio | 1.02/1,000 SF |
| Zoning | LAC4 - Los Angeles Commercial District |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | 700 - 800 |
| 1+1 | 2 | - | 900 |
| 2+2 | 2 | - | 1,285 - 1,322 |
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Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 5072-025-003 | Improvements Assessment | $452,627 |
| Land Assessment | $1,508,759 | Total Assessment | $1,961,386 |
PROPERTY TAXES
Parcel Number
5072-025-003
Land Assessment
$1,508,759
Improvements Assessment
$452,627
Total Assessment
$1,961,386
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3714 Pico Blvd
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