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Fatima Malik

fatima.malik@evrealestate.com +1(310) 968-2085

$ 1,649,000

Est. payment -/mo

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Price Dropped by $46K

2314 W Pico Blvd Los Angeles, CA 90006

16 Beds

16 Baths

9,408 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,408 sqft

Price per Sqft $175

MLS Listing ID 26104959

Bedrooms 16

Year Built 1922

Lot Size 7,005 Sqft

Acres 0.1608

Property Sub-Type Multi-Family

Property Description

BK SALE/DISTRESSED ASSET! T Pico Apartments, a 16-unit multifamily investment opportunity located at 2314 W Pico Boulevard in the Harvard Heights neighborhood of Los Angeles. The property consists of 16 single units and is 100% occupied, providing investors with immediate in-place cash flow and long-term rental upside.Offered at $1,750,000, the property provides an attractive basis of $109,375 per unit and a 7.59% cap rate on current operations. Significant capital improvements have already been completed, including a seismic retrofit, mini-split A/C in every unit, and a full electrical upgrade with individual meters. Eight of the 16 units currently rent for less than $1,000 per month, creating long-term income growth potential as units turn over and rents may be repositioned toward prevailing market levels, subject to applicable rent-control regulations.Strategically positioned between Koreatown, Downtown Los Angeles and the USC/Exposition Park corridor, the property offers a 91 Walk Score and convenient access to major employment, entertainment and educational destinations.

Location

State CA

County Los Angeles

Area Mid Los Angeles

Zoning LAC2

Rooms

Other Rooms None

Interior

Heating Floor Furnace

Cooling Wall Unit(s)

Equipment Recirculated Exhaust Fan, Vented Exhaust Fan

Laundry Room

Exterior

Parking Features None

Building

Level or Stories Two

Others

Special Listing Condition Bankruptcy Property

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Coldwell Banker Realty

NEARBY SCHOOLS & PROPERTIES

Fatima Malik

Broker Associate License ID: 01950831

+1(310) 968-2085

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