2709 W Pico Boulevard Los Angeles, CA ^$ 5,950,000

2709 W Pico Boulevard

^$ 5,950,000

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2709 W Pico Boulevard

Los Angeles, CA, 90006

^$ 5,950,000

Bedrooms4 Baths4.0 Sq 35,982

Monthly Estimate*

^$ 41,563

Listed by Lyon Stahl Investment Real Estate, Inc.

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Multi-Family Home for sale in Los Angeles, CA

for $5,950,000 with 4 bedrooms and 4 full baths. This 35,982 square foot home was built in 1924 on a lot size of 0.3273.

Seller financing available at 4% IO with 40% Down! 2709 Pico Blvd is a 43-unit mixed use building located in the Pico Union neighborhood. This massive 35,982 sqft building is offered at only $138k/unit and $165/sqft. The property is currently operating at a 6.22% CAP and 9.49 GRM. There is still over 39% upside available once the property is stabilized. The property is separately metered for gas and electric. The building is comprised of (36) apartment units and (7) commercial spaces - it is broken down in to (4) 1Bed+1Bath, (32) Studio+1Bath, (2) restaurants, (2) retail, (1) discount store, (1) salon and (1) upholstery store. There are (4) studio/1-bath units that are currently vacant, offering immediate upside in rental income. 2709 Pico Blvd 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.

Multi-Family Active

Price

^$ 5,950,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Apartment

Lot Size

0.3273

Year Built

1924

Town/City

Los Angeles

County/Region

Los Angeles

MLS | Web ID

SB24052600

Days on Market

Features

General

Sewer PublicSewer

Garage Spaces 0.0

Pool Features None

Year Built 1924

Property SubType Apartment

Gross Income 626943.0

Community Features Urban

County Los Angeles

Net Operating Income 370074.0

Operating Expense 238061.0

Insurance Expense 0.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Garage Y/N N

Special Listing Conditions Standard

Status Active

Directions Corner of Pico Blvd and Fedora St

City Los Angeles

Entry Location front

View Y/N N

Senior Community Y/N N

Total Units 43

MLS Area 699 - Not Defined

Lot Size Square Feet 14259.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Pico

Listing Terms Cash CashtoNewLoan Conventional Item1031Exchange OwnerMayCarry

Property Attached Y/N Y

Land Lease Y/N N

Electric Expense 0.0

Home Warranty Y/N N

Fuel Expense 0.0

Trash Expense 0.0

Water Sewer Expense 0.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N Y

Days on Market 0

Building Area Units SquareFeet

Standard Status Active

Year Built Source Assessor

Tax Lot 1

Property Sub Type Additional Apartment

Expected Active Date 2024-04-01

Cap Rate 6.22

Exterior

Lot Features Item01UnitAcre

Water Source Public

Total Parking 0.0

Lot Size Area 14259.0

Number of Buildings 1

Spa N

Building Area Total 35982.0

Lot Size Acres 0.3273

Lot Size Units SquareFeet

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 43

Number of Separate Electric Meters 43

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 3

Common Walls Item2CommonWalls

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Street Suffix Boulevard

Laundry Features None

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 2709

* Excluded Features

List By

Lyon Stahl Investment Real Estate, Inc.

Broker

(310) 425-9838

Phone

Affordability Calculator

$41,563

Per Month

Monthly Principal & Interest: $41,563
Monthly Property Taxes: --
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Los Angeles, CA

Average List Price ^$2,002,074

Percent of Sale Price 66%

About Los Angeles, CA

3,920,026 Population

6% Since 2002

^$55,057 Median Income

36.82 Median Age

27% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

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Pricing History

Date	Price	Price Change	Description
4/1/2024	$5,950,000		Listed Price

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2709 W Pico Boulevard, Los Angeles, CA, 90006 is a Multi-Family Home for sale at $5,950,000 with 35,982 sqft and a lot size of 0.3273. 2709 W Pico Boulevard has 4 bedrooms, 4.0 baths, and was built in 1924. The property's zip code is 90006 which is in Los Angeles, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 4/29/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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2709 W Pico Boulevard

Multi-Family Home for sale in Los Angeles, CA

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