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2314 W Pico Blvd, Los Angeles, CA 90006
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2314 W Pico Blvd Los Angeles, CA 90006

$2,600,000 Sold Price as of 12/01/2023
  • 0 Beds
  • 16 Baths
  • 9,408 Sq.Ft.
Sold
$2,600,000 Sold Price as of 12/01/2023 Refinance Your Mortgage
Map preview of 2314 W Pico Blvd, Los Angeles, CA 90006

Property Overview: 2314 W Pico Blvd Los Angeles, CA has -- bedrooms, 16 bathrooms, 9,408 living square feet and 7,003 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Proud to present the sale of 2314 W Pico Blvd. A Prime Value-Add Opportunity at the heart of the Pico-Union Neighborhood. This submarket has been on the rise for years as more and more luxury developments pour into the area pushing a high occupancy rate in the last decade. The offering consists of 16 units with a low price per SQFT ±$276 which offers a whopping Proforma CAP Rate of over ±9% and low Proforma GRM of ±8.15x (Buyer to verify)! 2314 W Pico Blvd is perfectly adjacent to Downtown Los Angeles, Harvard Heights, Mid-City, MacArthur Park, University Park, and Koreatown. Built-in 1922, this building consists of 16 exceptional units totaling ±9,408 SF of square footage on a sizeable ±7,003 SF lot. The property is an easily maintained two-story building, with an efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers a spacious and functional layout, including a large full kitchen & bathrooms with large closet space. The building has undergone major capital improvements in recent years, including a full electrical upgrade (service and main panel - 2019), earthquake retrofitting (2019), and a new mini split A/C system for each unit. (Buyer to verify & conduct due diligence). With an underutilized roof-top, buyers can possibly convert it into a prime Tenant Common Area with added amenities & stunning view of Downtown Los Angeles and Koreatown.

Listed by Abel Benitez | BRE #02173463 | GIG Real Estate Inc.
Co-listed by Handoko Chen | BRE #01749321 | GIG Real Estate Inc.
Last checked: 2 minutes ago | Last updated: February 21st, 2024 | Source CRMLS | DOM: 88

Home details

Lot Sq. Ft
7,003
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
AR23002463
City
Los Angeles
County
Los Angeles
Time on Site
490 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 1
  • # of Electric Meters: 16
  • # of Gas Meters: 16
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 16
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $16,473
  • Total Rent: $16,473
  • Pro Forma/Market Rent: $26,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.8%
  • Gross Rent Multiplier: 12.99
  • Gross Scheduled Income: $200,079
  • Net Operating Income: $124,840
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Virtual Tour

Use the following link to view this property's virtual tour:

Property Details for 2314 W Pico Blvd

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Public Records
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 16
  • Parcel Number: 5056004004
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: West on Pico Blvd
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 2314 W Pico Blvd

Last sold for $2,600,000 on December 1st, 2023

  • December, 2023

  • Dec 1, 2023

    Date

    Sold

    CRMLS: AR23002463

    $2,600,000

    Price

  • Jan 5, 2023

    Date

    Active

    CRMLS: AR23002463

    $2,600,000

    Price

  • July, 2020

  • Jul 20, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,100,000

    Price

  • September, 2007

  • Sep 25, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2314 W Pico Blvd

Assessed Value (2020): $1,239,627
Year Land Value Improved Value Assessed Value
2020 $720,622 $519,005 $1,239,627

Home Value Compared to the Market

This property vs the competition

2314 W Pico Blvd sold on December 1, 2023 for 118.49% higher 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 $276.36 per/sqft which puts the price per square foot 63.4% lower than the current median sale per square foot for the city of Los Angeles.

About 2314 W Pico Blvd

Detailed summary of property

2314 W Pico Blvd is a mixed use that recently sold in Los Angeles, CA 90006. This mixed use property offered -- bedrooms, 16 bathrooms, roughly 9,408 living square feet, and sits on an approximately 7,003 square foot lot. 2314 W Pico Blvd was first listed on ArdentRealEstateGroup.com on January 6, 2023. The homeowner sold the property for $2,600,000. 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 118.49% higher than the current median priced home. Local homes that are currently for sale include 11901 S San Pedro St, 3745 Ocean View Ave and 12320 Ridge Circle. While the average home in Los Angeles, CA is selling in 93 days, 2314 W Pico Blvd has a days on market of 88 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 2314 W Pico Blvd Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2314 W Pico Blvd

Public county record property details
Beds
--
Baths
16
Year built
1922
Sq. Ft.
9,408
Lot Size
7,002
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
5056-004-004

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$611
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
37
Median Sale to List Price %
98.71%
Avg Days on Market
36
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (33.33%), Other (0%)

Thinking of Selling?

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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.

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