Samimi CRE Advisors
    Listings/2709 Pico Blvd
    2709 Pico Blvd - Photo 1
    multifamilyActive Listing

    2709 Pico Blvd

    Los Angeles, CA 90006

    Valuation

    $5,150,000

    Key Specifications

    Total Units

    43

    multifamily

    Year Built

    1924

    Heritage Asset

    Interior

    35,982 SF

    $143 / SF

    Lot Area

    14,259 SF

    Unit Mix

    multifamily

    4x 1-Bed/1-Bath, 32x Studio/1-Bath, 2x Restaurant, 2x Retail, 1x Discount Store, 1x Salon, 1x Upholstery Store

    Investment Highlights

    Mixed Use 43-Unit Building located in Pico Union (36 apartment, 7 commercial)
    Priced at only $119,767/unit and $143.49/sqft
    Currently operated at a 8.79% CAP and 6.69 GRM
    (32) Studio/1-Bath & (4) 1Bed+1Bath units – (5) Studio/1-Bath units are currently vacant
    (7) Commercial units broken down into (2) restaurants, (2) retail, (1) discount store, (1) salon and (1) upholstery store
    Conveniently located near Downtown Los Angeles, 10 and 110 Freeways

    Property Overview

    2709 Pico Blvd is a 43-unit mixed-use building situated in the vibrant Pico Union neighborhood of Los Angeles. This substantial 35,982 sq.ft property is offered at an attractive price point of $119k per unit and $143 per sqft. The building currently boasts a strong 8.79% CAP rate and 6.69 GRM, with significant upside potential of over 46% once fully stabilized. A key feature is that the property is separately metered for gas and electricity, and all power has been upgraded. The property comprises 36 apartment units and 7 commercial spaces. The residential mix includes four 1-Bed/1-Bath units and thirty-two Studio/1-Bath units, with five Studio/1-Bath units currently vacant, presenting an immediate opportunity to increase rental income. The commercial spaces are diversified, including two restaurants, two retail stores, one discount store, one salon, and one upholstery store. Located conveniently near Downtown Los Angeles, the property offers easy access to the 10 and 110 freeways. The surrounding area is rich with shops, restaurants, and various amenities, making it an ideal and highly desirable location for renters.