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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$1,850,000

Est. payment - /mo

2 Beds

11 Baths

7,216 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,216 sqft

Price per Sqft $256

MLS Listing ID 25520821

Bedrooms 2

HOA Y/N No

Year Built 1915

Lot Size 4,748 Sqft

Property Description

Unlock a remarkable investment opportunity with this exceptional 11-unit mixed-use property strategically situated in the dynamic heart of Los Angeles, mere minutes from Downtown! Located on the bustling San Pedro Street, this asset offers outstanding visibility for its retail establishments, anchored by a reliable supermarket. No retail experience required for this asset as all retailers have been here for 5-10 years +. The upper level features 7 well-appointed residential units, presenting significant opportunities for growth. Currently, the property operates at a robust 6.8% cap rate with a 10.25 GRM. Exciting potential exists to elevate these metrics to an impressive 12.2% cap rate and a 6.4 GRM in the near future, thanks to flourishing retail tenantsincluding a supermarket occupying 50% of the retail spacemost of whom remain on flexible month-to-month leases allowing immediate upside for a new owner. With a generous 7,219 square feet of total space, this investment offers exceptional value at just $256 per square foot and $ 168,182 per unit. Whether you're exploring a 1031 exchange or searching for immediate cash flow paired with growth possibilities, this property stands out as an ideal choice!

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning R3

Interior

Heating Wall Furnace

Fireplace No

Appliance Refrigerator

Exterior

Parking Features None

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5128015034

Special Listing Condition Standard

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Listed by Armin Soleimani • Global Platinum Properties, Inc.

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2906 S San Pedro ST Los Angeles, CA 90011