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$ 1,640,000
Est. payment | /mo
4,809 SqFt
$ 1,640,000
Est. payment | /mo
4,809 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,809 sqft
Price per Sqft $341
MLS Listing ID CL25505735
HOA Y/N No
Year Built 1961
Lot Size 6,553 Sqft
Acres 0.15
Property Sub-Type Other
Property Description
9 units located in Historic Pico Union being offered at a below market $182,222 Price Per Unit! This professionally managed 1960's construction asset has a great top-heavy unit mix with (7) 2 Bed/1 Bath, (1) 1 Bed/1 Bath & (1) Single with some parking in the back being rented out by tenants. The entire building was re-piped to copper plumbing throughout in 2016 with permits pulled. Unit #9, 1 Bed/1 Bath, is new construction as the owner converted tuck-under parking into an ADU (new C of O and permits issued). On-site laundry room has brand new digital pay washer & dryer machines that are Landlord owned with NO laundry leases. EQ retrofit work has been completed, EQ shut off valves have been installed on the gas meters, and the master water heater was recently replaced -- all work done with permits. Separately metered for gas & electricity, and some units are on RUBS for utility reimbursements to help keep operating costs down. In-place 5.12% cap rate and 11.65x GRM on current rents and 2024 actual expenses (+ including new tax rate & assessments based on list price). 75% rental upside remaining to a stabilized 10.86% cap rate and 6.8x GRM. Tenant safety features include a gated & secured perimeter and located just 1/2 mile from both LAFD Station 13 and Olympic Community Police St
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5075018028
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Jonathan Rawson • Avenue Realty Group