7051 3rd Avenue
7051 3rd Avenue
Description
The commercial building is ideal for retail, office space, or a restaurant (commercial hood exists) + detached residential triplex. Triplex mix is a 3/1 + (2) 1/1’s. Rare opportunity to acquire a virtually vacant property in a growth trending neighborhood. Currently one tenant in place renting one of the one bedroom units. Commercial building is has it's own addresses of 2501, 2503 Florence Ave., is approx 2,808 square feet and offers 70' of frontage. Zoning LA C2. Corner Lot. Per architect / land use consultant for multifamily development option: Yield may be 23-83 potential units. Buyer to verify, listing agent has not verified and does not warrant accuracy of this information. Each unit has individual gas and electric meters. One water meter. Inside laundry for 3 bedroom apartment and commercial building. Priced at a conservative proforma 5 CAP this property offers a unique and rare opportunity that offers a plethora of options.
- Listed by Paul Purunjian • DRE #01417303 • Brokerage DRE #02062521 • Purunjian Inc. • 562-225-5728
Property Details for 7051 3rd Avenue
Location
Property Details for 7051 3rd Avenue
| Status | Active |
|---|---|
| MLS # | PW24036337 |
| Days on Market | 65 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 1951 |
| Lot Size | 0.19 AC / 8,089 SF |
| County | Los Angeles County |
Location
Building Information for 7051 3rd Avenue
Payment Calculator
$10,788 per month
30 year fixed, 7.25% Interest
$9,550
$1,238
$0
Property Information for 7051 3rd Avenue
- Gross Income: $114,000
- Gross Scheduled Income: $114,000
- Net Operating Income: $87,577
- Cap Rate: 5.0
- Operating Expense: $42,838
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $0
- Professional Management Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $87,577
- Tax Tract Number: 5721
- Tax Lot: 8
- Community Features: Sidewalks, Urban
- Laundry: Yes
- Laundry Features: Individual Room
- Entry Location: Ground
- Pool Features: None
- Pool Description: None
- Lot Features: Lot 6500-9999
- Number Of Units: 5
- 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
- Building Status: Existing
- Unit Type Units Total: 2
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,700
- Unit Type Total Rent: $1,700
- Unit Type Pro Forma: 1700
- Unit Type Area: 500
- Unit Type Area Units: Square Feet
- Unit Type Type: 1
- Unit Type Description: Buyer to confirm exact square footages, one unit occupied, the all other...
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,750
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 2750
- Unit Type Area: 1000
- Unit Type Area Units: Square Feet
- Unit Type Type: 2
- Unit Type Description: Buyer to confirm exact square footages, one unit occupied, the all other...
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $5,054
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 2527
- Unit Type Area: 2808
- Unit Type Area Units: Square Feet
- Unit Type Type: 3
- Unit Type Description: Commercial, Buyer to confirm exact square footages
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 2527
- Unit Type Type: 4
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 4
- Number Of Separate Gas Meters: 4
- Number Of Separate Water Meters: 1
Property History for 7051 3rd Avenue
| Date | Event & Source | Price | Appreciation |
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| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 7051 3rd Avenue
Schools near 7051 3rd Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Charter - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | K to 5 |
Rating | School | Distance |
|---|---|---|
Seventy-Fourth Street Elementary School PublicK to 5 | ||
Alliance Leadership Middle Academy Charter6 to 8 | ||
Learning by Design Charter CharterK to 5 |
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 Purunjian Inc., Paul Purunjian, DRE #01417303
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.