Highlights
• Mixed Use 43-Unit building located in Pico Union (36 apartments, 7 commercial) • Currently operated at a 6.73% CAP and 8.36 GRM • (7) Commercial units broken down into (2) Restaurants, (2) Retail, (1) Discount Store, (1) Salon and (1) Upholstery Store • Priced at only $128k/Unit and $153/SF • (32) Studio/1-Bath & (4) 1-Bed/1-Bath Units - (4) Studios are currently vacant.
Description
Seller financing is available at a 4% interest-only rate with 40% down! Located in the Pico Union neighborhood, 2709 Pico Blvd is a 43-unit mixed-use property totaling 35,982 square feet. Priced attractively at just $128,000 per unit and $153 per square foot, the property currently yields a 6.73% cap rate and an 8.36 GRM. There's still over 39% potential upside once the building is fully stabilized. Each unit is separately metered for gas and electricity. The building includes 36 residential units and 7 commercial spaces, specifically: 4 one-bedroom/one-bath units, 32 studio/one-bath units, 2 restaurants, 2 retail shops, 1 discount store, 1 salon, and 1 upholstery business. Four studio units are currently vacant, presenting immediate income growth potential. The property at 1262 Fedora St is ideally situated just minutes from Downtown Los Angeles, with convenient access to the 10 and 110 freeways. It’s surrounded by a variety of shops, restaurants, and local amenities, making it a desirable location for tenants.
Listing Details
- Cap Rate
6.73%
- Tenancy
Multi
- Space Type
retail
- Sub Category
grocery-store
- Sale Type
Investment Sale
- Date Listed
6/17/2025
- Net Operating Income
$369,887
- Parking Info
6 Spaces (0.17 Spaces per 1,000 SF Leased)
- Building FAR
2.52
Property Specifics
- Property Name
2709 W Pico Blvd
- Property Class
C
- No of Buildings
1
- No of Stories
3
- Year Built
1924
- Building Size
35,982 SF
- Lot Size
0.33 AC
- APN
5078-033-012
- Zoning
C2, Los Angeles
- Occupancy
100%