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2314 Pico Boulevard
Los Angeles, CA 90006
Sold
2314 Pico Boulevard
Los Angeles, CA 90006
Sold
Proud to present the sale of 2314 W Pico Blvd. A Prime Value-Add Opportunity at the heart of the Pico-Union Neighborhood. This submarket has been on the rise for years as more and more luxury developments pour into the area pushing a high occupancy rate in the last decade. The offering consists of 16 units with a low price per SQFT ±$276 which offers a whopping Proforma CAP Rate of over ±9% and low Proforma GRM of ±8.15x (Buyer to verify)! 2314 W Pico Blvd is perfectly adjacent to Downtown Los Angeles, Harvard Heights, Mid-City, MacArthur Park, University Park, and Koreatown. Built-in 1922, this building consists of 16 exceptional units totaling ±9,408 SF of square footage on a sizeable ±7,003 SF lot. The property is an easily maintained two-story building, with an efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers a spacious and functional layout, including a large full kitchen & bathrooms with large closet space. The building has undergone major capital improvements in recent years, including a full electrical upgrade (service and main panel - 2019), earthquake retrofitting (2019), and a new mini split A/C system for each unit. (Buyer to verify & conduct due diligence). With an underutilized roof-top, buyers can possibly convert it into a prime Tenant Common Area with added amenities & stunning view of Downtown Los Angeles and Koreatown.
PROPERTY INFORMATION
| MLS # | AR23002463 | Lot Size | 7,003 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 2,600,000
Price Per SqFt: $ 276 |
DOM | 881 Days |
| Address | 2314 Pico Boulevard | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 9,408 Sq. Ft. |
| Postal Code | 90006 | Garage | N/A |
| County | Los Angeles | Year Built | 1922 |
| Bed / Bath | 0 / 0 | Parking | N/A |
| Built In | 1922 | Status | Closed |
| Sold Date | 2023-12-01 |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,773
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 12/01/2023 | Sold | $2,600,000 |
| 01/05/2023 | Listed | $2,600,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Abel Benitez, GIG Real Estate Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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.
