Seller financing available at 4% IO with 40% Down!
2709 Pico Blvd is a 43-unit mixed use building
located in the Pico Union neighborhood. This
massive 35,982 sqft building is offered at only
$138k/unit and $165/sqft. The property is currently
operating at a 6.22% CAP and 9.49 GRM. There is still
over 39% upside available once the property is
stabilized. The property is separately metered for
gas and electric.
The building is comprised of (36) apartment units
and (7) commercial spaces – it is broken down in to
(4) 1Bed+1Bath, (32) Studio+1Bath, (2) restaurants,
(2) retail, (1) discount store, (1) salon and (1)
upholstery store. There are (4) studio/1-bath units
that are currently vacant, offering immediate
upside in rental income.
2709 Pico Blvd is conveniently located just minutes
from Downtown Los Angeles, with easy access to
the 10 and 110 freeways. There are many shops,
restaurants and amenities nearby, making this an
ideal location for renters.