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2314 Pico Boulevard
Los Angeles, CA 90006
We're 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 ±8.52% and low Proforma GRM of ±8.46x (Buyer to verify)! 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 a efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers spacious and functional layout which includes large full kitchens & bathroom with a large closet space. The building has undergone major capital improvements in the recent years which include: full electrical upgrade (service and main panel - 2019), earthquake retrofitted (2019), and new mini split A/C system for each unit. 2-Units have been fully upgraded: Paint, Flooring, Appliances, Cabinets and Countertops. (Buyer to Verify) and 4-Units have been updated with Paint, Flooring and Appliances. (Buyer to Verify) Right off Pico Blvd & Magnolia Ave, located within 5-12 Minutes away from Koreatown, Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Country Club Park, Silver Lake, Echo Park, East Hollywood, and Historic Filipino town. 2314 W Pico Blvd is in perfect adjacency to many of Los Angeles trendiest boutique restaurants, coffee shops and upscale bars, It’s location also provides easy access to many of the city’s largest & strongest employers and major retailers. Some of employers include University of Southern California, Fashion Institute of Design & Merchandise, Crypto Arena, Koreatown Plaza, Los Angeles Convention Center, Los Angeles Financial & Arts District, Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, and American Career College. All of this while providing easy access to the 101 & 110 Freeways
PROPERTY INFORMATION
| MLS # | AR24143091 | Lot Size | 7,005 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 2,600,000
Price Per SqFt: $ 276 |
DOM | 297 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 | Active |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| EntryLocation | Pico Blvd |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
Walk Score: 91 (Walker's Paradise)
Transit Score: 72 (Excellent Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,773
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/12/2024 | Listed | $2,600,000 |
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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.
