2709 West Pico Boulevard
2709 West Pico Boulevard
Description
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...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.
- Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556
- Listed by Christopher Bald • DRE #01909867 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.
Property Details for 2709 West Pico Boulevard
Location
Property Details for 2709 West Pico Boulevard
| Status | Active |
|---|---|
| MLS # | SB24052600 |
| Days on Market | 30 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1924 |
| County | Los Angeles County |
Location
Building Information for 2709 West Pico Boulevard
Payment Calculator
$32,472 per month
30 year fixed, 7.25% Interest
$32,472
—
$0
Property Information for 2709 West Pico Boulevard
- Gross Income: $626,943
- Gross Scheduled Income: $626,943
- Net Operating Income: $370,074
- Gross Multiplier: 9.49
- Cap Rate: 6.22
- Operating Expense: $238,061
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $0
- Professional Management Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $238,061
- Tax Tract Number: 1234
- CFD/Mello-Roos Fee: $0
- Tax Lot: 1
- Community Features: Urban
- Laundry: No
- Laundry Features: None
- Entry Location: front
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 43
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Unit Type Units Total: 4
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,400
- Unit Type Total Rent: $5,600
- Unit Type Pro Forma: 5600
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Baths Total: 0
- Unit Type Actual Rent: $950
- Unit Type Total Rent: $950
- Unit Type Pro Forma: 1575
- Unit Type Type: 10
- Unit Type Units Total: 1
- Unit Type Baths Total: 0
- Unit Type Actual Rent: $1,100
- Unit Type Total Rent: $1,100
- Unit Type Pro Forma: 2058
- Unit Type Type: 11
- Unit Type Units Total: 28
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,036
- Unit Type Total Rent: $28,999
- Unit Type Pro Forma: 39200
- Unit Type Type: 2
- Unit Type Units Total: 3
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,076
- Unit Type Total Rent: $3,227
- Unit Type Pro Forma: 5550
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,850
- Unit Type Total Rent: $1,850
- Unit Type Pro Forma: 1850
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Baths Total: 0
- Unit Type Actual Rent: $2,023
- Unit Type Total Rent: $2,023
- Unit Type Pro Forma: 2142
- Unit Type Type: 5
- Unit Type Units Total: 1
- Unit Type Baths Total: 0
- Unit Type Actual Rent: $2,516
- Unit Type Total Rent: $2,516
- Unit Type Pro Forma: 2664
- Unit Type Type: 6
- Unit Type Units Total: 1
- Unit Type Baths Total: 0
- Unit Type Actual Rent: $1,485
- Unit Type Total Rent: $1,485
- Unit Type Pro Forma: 2380
- Unit Type Type: 7
- Unit Type Units Total: 1
- Unit Type Baths Total: 0
- Unit Type Actual Rent: $3,000
- Unit Type Total Rent: $3,000
- Unit Type Pro Forma: 4687
- Unit Type Type: 8
- Unit Type Units Total: 1
- Unit Type Baths Total: 0
- Unit Type Actual Rent: $1,295
- Unit Type Total Rent: $1,295
- Unit Type Pro Forma: 2380
- Unit Type Type: 9
- Rent Controlled: Yes
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 43
- Number Of Separate Gas Meters: 43
- Number Of Separate Water Meters: 1
Property History for 2709 West Pico Boulevard
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 2709 West Pico Boulevard
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Los Angeles Elementary School PublicK to 5 | ||
Berendo Middle School Public6 to 8 | ||
West Adams Preparatory High School Public9 to 12 | ||
Odyssey Continuation School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763; Lyon Stahl Investment Real Estate, Inc., Christopher Bald, DRE #01909867
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.