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1158 E 88th Pl Los Angeles, CA 90002

$789,000 Sold Price as of 08/15/2023

3 Beds
2 Baths
2,891 Sq.Ft.

Sold

$789,000 Sold Price as of 08/15/2023 Refinance Your Mortgage

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Map preview of 1158 E 88th Pl, Los Angeles, CA 90002

Property Overview: 1158 E 88th Pl Los Angeles, CA has 3 bedrooms, 2 bathrooms, 2,891 living square feet and 5,124 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1158 E 88th Place is a mixed use property comprised of a Single Family Home and a Corner Store. || HOUSE: 3-Bedroom & 1-Bath rented at $2,500 per month (month to month) || STORE: Delivered Vacant. (ABC License is Active) Goodwill, supplier lists, furniture, fixtures, & equipment ALL INCLUDED || Before current investor-owner, this was a family-owned successful business for over 20 years. (MLS NOTE: LISTING HAS SUPPLEMENTS - Please check them out)

Listed by Alex Colombo | BRE #01927702 | Lyon Stahl Investment Real Est

Last checked: 3 minutes ago | Last updated: August 15th, 2023 | Source CRMLS | DOM: 9

Home details

Lot Sq. Ft: 5,124
HOA Dues: $0/mo
Year built: 1931
Garage: 2 Car
Property Type:: Mixed Use

Status: Sold
MLS#: PW23106001
City: Los Angeles
County: Los Angeles
Time on Site: 338 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 2
Total # of Buildings: 2
# of Electric Meters: 2
# of Gas Meters: 2
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 3
# of Baths: 1
Garage Spaces: 2
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,500
Total Rent: $2,500
Pro Forma/Market Rent: $3,150

Unit Breakdown 2

# of Units: 1
# of Beds: 0
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $3,750
Total Rent: $3,750
Pro Forma/Market Rent: $3,750

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $75,000
Net Operating Income: $54,370
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $18,380
Electric: $0
Gas/Fuel: $0
Trash: $0
Insurance: $0
Water/Sewer: $0

Property Details for 1158 E 88th Pl

Interior Features

Laundry Information

Has Laundry
Gas & Electric Dryer Hookup

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 2
# of Parking Spaces: 2

Lot Information

Lot Features: 2-5 Units/Acre
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: No Common Walls
Total # of Units: 2
Parcel Number: 6043005001
Year Built Source: Public Records
Entry Level: 1
Property is not Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Hooper and E 88th pl

Neighborhood Information

Community Features: Sidewalks, Street Lights

View more facts & features

Local Los Angeles Agent

Sale History for 1158 E 88th Pl

Last sold for $789,000 on August 15th, 2023

August, 2023
Aug 15, 2023

Date

Sold

CRMLS: PW23106001

$789,000

Price
Jun 14, 2023

Date

Active

CRMLS: PW23106001

$789,000

Price
January, 2023
Jan 6, 2023

Date

Expired

CRMLS: PW22116387

$80,000

Price
May 31, 2022

Date

Active

CRMLS: PW22116387

$275,000

Price
Listing provided courtesy of CRMLS

We are pleased to present a desirable Business Opportunity consisting of a well-established store with a B&W license, EBT, ATM, CA-Lottery, and a meat market; this Business Opportunity presents the option to buy the real estate as part of the acquisition. Established in 1999 and located in a very visible hard-corner, this store had been a successful family-owned business for over 20 years. This strategically located neighborhood business exclusively serves a radius of over 0.5 miles selling daily needs from meat and groceries to cleaning supplies and wine. Two years ago, the property and the business were sold to a multifamily real estate investor, who dabbled in the market/store industry for the first time and who employed a friend of his as the manager to operate this store. Now, this business is being offered to an involved owner-operator or to an experienced investor to revitalize it and to bring it back to its peak performance and beyond. This is a store that —with proper management— has the potential to become enormously profitable for its new owner. The store consists of approximately 1,500 square feet containing all the proper grocery store equipment including a meat counter with display, a six-doors walk-in refrigeration unit, open-air cooler and open-air freezer, retail shelving, additional storage shelving, additional refrigeration shelving, commercial meat slicer, commercial scale, commercial sink, and more. The store will be delivered fully equipped and fully stocked with merchandise for a smooth transition. This Business Opportunity can be bought on its own. The seller of this business, who is also the owner of the real estate, is willing to negotiate favorable long-term lease conditions with the new business owner/operator. Likewise, this Business Opportunity could be bought with the real estate which settles on a big 5,124 SF lot and includes the freestanding store plus an ample 3-bedroom and 1-bath house currently located in the same lot. This house is rented and producing $2,300 of additional income a month. (MLS: SEE SUPLEMENTAL INFORMATION)

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September, 2022
Sep 24, 2022

Date

Expired

CRMLS: PW22116430

$995,000

Price
May 31, 2022

Date

Active

CRMLS: PW22116430

$1,120,000

Price
Listing provided courtesy of CRMLS

We are pleased to present this mix use property, which includes a desirable and lucrative Business Opportunity consisting of a well-established and highly profitable store with a B & W license, EBT, ATM, CA-Lottery, and a meat market. Established in 1999 and located in a very visible hard-corner, this store has been a successful family-owned business for over 20 years. This strategically located neighborhood business exclusively serves a radius of over 0.5 miles selling daily needs from meat and groceries to cleaning supplies and wine. Two years ago, the property and the business were sold to a multifamily real estate investor, who dabbled in the market/store industry for the first time and who employed a friend of his as the manager to operate this store. Now, this business is being offered to an involved owner-operator or to an experienced investor to revitalize it and to bring it back to its peak performance and beyond. Making $91,000 in gross sales plus $15,000 in lottery sales in July 2022, this is a store that —with proper management— has the potential to become enormously profitable for its new owner. The store consists of approximately 1,500 square feet containing all the proper grocery store equipment including a meat counter with display, a six-doors walk-in refrigeration unit, open-air cooler and open-air freezer, retail shelving, additional storage shelving, additional refrigeration shelving, commercial meat slicer, commercial scale, commercial sink, and more. The store will be delivered fully equipped and fully stocked with merchandise for a smooth transition. This Business Opportunity can be bought on its own. The seller of this business, who is also the owner of the real estate, is willing to negotiate favorable long-term lease conditions with the new business owner/operator. Likewise, this Business Opportunity could be bought as is presented with the real estate which settles on a big 5,124 SF lot and includes the freestanding store plus an ample 3-bedroom and 1-bath house currently located in the same lot. This house is rented and producing $2,300 of additional income a month.

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February, 2020
Feb 24, 2020

Date

Sold

CRMLS: CV19264747

$800,000

Price
Feb 5, 2020

Date

Pending

CRMLS: CV19264747

$860,000

Price
Dec 16, 2019

Date

Active Under Contract

CRMLS: CV19264747

$860,000

Price
Dec 5, 2019

Date

Price Change

CRMLS: CV19264747

$860,000

Price
Nov 14, 2019

Date

Active

CRMLS: CV19264747

$890,000

Price
Listing provided courtesy of CRMLS

Location! Location! Fantastic corner lot location, on the corner of 88th St. and Hooper Ave. Mixed-Use. 2 Buildings on a lot. Corner Market / Store. Attached 2nd unit on 88th st. 3 Bedroom 1 Bath House, with an attached 1 car garage. Investment opportunity to own 2 buildings one commercial second residential. All are currently generating income to make this purchase an easy decision (Price includes all store internal inventory and BEER & WINE license)

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February, 2020
Feb 24, 2020

Date

Sold

CRMLS: CV19264864

$800,000

Price
Feb 5, 2020

Date

Pending

CRMLS: CV19264864

$860,000

Price
Dec 16, 2019

Date

Active Under Contract

CRMLS: CV19264864

$860,000

Price
Dec 5, 2019

Date

Price Change

CRMLS: CV19264864

$860,000

Price
Nov 14, 2019

Date

Active

CRMLS: CV19264864

$890,000

Price
Listing provided courtesy of CRMLS

Location! Location! Fantastic corner lot location, on the corner of 88th St. and Hooper Ave. Mixed-Use. 2 Buildings on a lot. Corner Market / Store. Attached 2nd unit on 88th st. 3 Bedroom 1 Bath House, with an attached 1 car garage. Investment opportunity to own 2 buildings one commercial second residential. All are currently generating income to make this purchase an easy decision (Price includes all store internal inventory and BEER & WINE license)

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February, 2020
Feb 24, 2020

Date

Sold (Public Records)

Public Records

$550,000

Price
October, 2019
Oct 4, 2019

Date

Expired

CRMLS: DW19212846

$625,000

Price
Sep 6, 2019

Date

Active

CRMLS: DW19212846

$625,000

Price
Listing provided courtesy of CRMLS

MIXER... Perfect for Investors or entrepreneurs! This corner lot contains a Grocery Store with Meat market with 1372 sqft.. The Business opportunity not Included with this sale here's the MLS Inf (DW19082484) The 2nd Unit consist of 3 Bedroom 1 bath home with 1519 sqft Both making you money every month. Being in a NO RENT CONTROL area of the city. The store is a gold mine perfectly placed on a busy street with high traffic and also has Beer and Wine License. It makes a substantial amount of money and profit. Per Seller, the business can be sold separately and is Listed as a business opportunity the monthly sales reports are sent and documented to the State Board of Equalization. Don't let this opportunity pass you by!!! Call me today for more details.

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October, 2019
Oct 2, 2019

Date

Expired

CRMLS: DW19132571

$625,000

Price
Jun 6, 2019

Date

Active

CRMLS: DW19132571

$625,000

Price
Listing provided courtesy of CRMLS

MIXER... Perfect for Investors or entrepreneurs! This corner lot contains a Grocery Store with Meat market. The Business opportunity not Included with this sale here's the MLS Inf (DW19082484) The 2nd Unit consist of 3 Bedroom 1 bath home. Both making you money every month. Being in a NO RENT CONTROL area of the city. The store is a gold mine perfectly placed on a busy street with high traffic and also has Beer and Wine License. It makes a substantial amount of money and profit. Per Seller, the business can be sold separately and is Listed as a business opportunity the monthly sales reports are sent and documented to the State Board of Equalization. Don't let this opportunity pass you by!!! Call me today for more details.

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August, 2019
Aug 22, 2019

Date

Expired

CRMLS: DW19082484

$225,000

Price
Apr 11, 2019

Date

Active

CRMLS: DW19082484

$225,000

Price
Listing provided courtesy of CRMLS

This store is a gold mine perfectly placed on a busy street with high traffic and also has Beer/ Wine License, EBT,ATM, CA Lottery & Carniceria ( Meat Market) It makes a substantial amount of money and profit. This is an amazing opportunity the monthly sales reports are sent and documented to the State Board of Equalization. Don't let this opportunity pass you by!!! Call me today for more details.

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February, 2019
Feb 16, 2019

Date

Expired

CRMLS: DW18095603

$650,000

Price
Nov 2, 2018

Date

Price Change

CRMLS: DW18095603

$650,000

Price
Apr 25, 2018

Date

Active

CRMLS: DW18095603

$700,000

Price
Listing provided courtesy of CRMLS

Price reduction...Great opportunity to own an income producing property. Perfect for Investors or entrepreneurs! This corner lot contains a Grocery Store with Meat market and a 3 Bedroom 1 bath home. Both making you money every month. Being in a NO RENT CONTROL area of the city the house can be delivered vacant or with tenants. The store is a gold mine perfectly placed on a busy street with high traffic and also has Beer and Wine License. It makes a substantial amount of money and profit. Per Seller, the business can be sold separately and the monthly sales reports are sent and documented to the State Board of Equalization. Don't let this opportunity pass you by!!! Call me today for more details.

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August, 2018
Aug 16, 2018

Date

Expired

CRMLS: MB17184372

$650,000

Price
Mar 9, 2018

Date

Withdrawn

CRMLS: MB17184372

$650,000

Price
Aug 15, 2017

Date

Active

CRMLS: MB17184372

$650,000

Price
Listing provided courtesy of CRMLS

ESTABLISHED LUCRATIVE MIX USE PROPERTY THAT INCLUDES A CORNER GROCERY STORE WITH OVER $ 130,000 MONTHLY SALES AND A 3 BEDROOM 1 ONE BATH RESIDENTIAL INCOME SINGLE FAMILY RESIDENCE. SFR IS CURRENTLY RENTED TO A FAMILY MEMBER FOR $ 1,100 MONTH BUT WORTH AT LEAST A FEW HUNDRED MORE IN RENTAL INCOME. THIS STORE IS A GOLD MINE OWNER IS ESSENTIALLY RETIRING MOVING OUT OF THE COUNTRY. ON A BUSY STREET, SMALL NEIGHBORHOOD STORE HIGH TRAFFIC WITH MEAT DEPARTMENT, PRODUCE, AND BEER AND WINE LICENSE. BUSINESS IS SOLD SEPARATELY FOR $ 350,000. LADIES AND GENTLEMEN THIS IS AN EXCELLENT BUSINESS OPPORTUNITY. MONTHLY SALES ARE DOCUMENTED WITH SALES REPORT TO STATEBOARD OF EQUALIZATION.

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April, 2007
Apr 2, 2007

Date

Sold (Public Records)

Public Records

$342,394

Price

Tax History for 1158 E 88th Pl

Assessed Value (2020): $374,859

Year	Land Value	Improved Value	Assessed Value
2020	$206,174	$168,685	$374,859

Home Value Compared to the Market

This property vs the competition

1158 E 88th Pl sold on August 15, 2023 for 33.7% lower than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $272.92 per/sqft which puts the price per square foot 63.85% lower than the current median sale per square foot for the city of Los Angeles.

About 1158 E 88th Pl

Detailed summary of property

1158 E 88th Pl is a mixed use that recently sold in Los Angeles, CA 90002. This mixed use property offered 3 bedrooms, 2 bathrooms, roughly 2,891 living square feet, and sits on an approximately 5,124 square foot lot. 1158 E 88th Pl was first listed on ArdentRealEstateGroup.com on June 15, 2023. The homeowner sold the property for $789,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 33.7% lower than the current median priced home. Local homes that are currently for sale include 420 S San Pedro St #104, 3236 E 5th St and 820 Columbia Ave. While the average home in Los Angeles, CA is selling in 92 days, 1158 E 88th Pl has a days on market of 9 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1158 E 88th Pl Los Angeles, CA 90002 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1158 E 88th Pl

Public county record property details

Beds: 3
Baths: 2
Year built: 1931
Sq. Ft.: 2,891
Lot Size: 5,124
Stories: 1

Type: Commercial/Office/Residential (Mixed Use)
Pool: No
Spa: No
County: Los Angeles
Lot#: 287
APN: 6043-005-001

The source for these homes facts are from public records.

90002 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$587,000

Median List Price/Sq.Ft.

$485

Median Sold Price

$595,000

Median Sold Price/Sq.Ft.

$497

Total Inventory

Median Sale to List Price %

101.02%

Avg Days on Market

Loan Type

Conventional (50%), FHA (25%), VA (0%), Cash (16.67%), Other (8.33%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.