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2709 W Pico Blvd, Los Angeles, CA 90006
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2709 W Pico Blvd Los Angeles, CA 90006

$5,950,000
  • 4 Beds
  • 36 Baths
  • 35,982 Sq.Ft.
For Sale
$5,950,000 Get Pre-Qualified
Map preview of 2709 W Pico Blvd, Los Angeles, CA 90006

Property Overview: 2709 W Pico Blvd Los Angeles, CA has 4 bedrooms, 36 bathrooms, 35,982 living square feet and 14,259 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Christopher Bald | BRE #01909867 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 2 minutes ago | Last updated: April 1st, 2024 | Source CRMLS | DOM: 24
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Home details

Lot Sq. Ft
14,259
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Apartment
Status
Active
MLS#
SB24052600
City
Los Angeles
County
Los Angeles
Time on Site
48 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 43
  • Total # of Buildings: 1
  • # of Electric Meters: 43
  • # of Gas Meters: 43
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: --
  • # of Baths: 0
  • Actual Rent: $2,515
  • Total Rent: $2,515
  • Pro Forma/Market Rent: $2,664
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,400
  • Total Rent: $5,600
  • Pro Forma/Market Rent: $5,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: --
  • # of Baths: 0
  • Actual Rent: $950
  • Total Rent: $950
  • Pro Forma/Market Rent: $1,575
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: --
  • # of Baths: 0
  • Actual Rent: $1,100
  • Total Rent: $1,100
  • Pro Forma/Market Rent: $2,058
Unit Breakdown 5
  • # of Units: 28
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,035
  • Total Rent: $28,999
  • Pro Forma/Market Rent: $39,200
Unit Breakdown 6
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,075
  • Total Rent: $3,227
  • Pro Forma/Market Rent: $5,550
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,850
  • Total Rent: $1,850
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: --
  • # of Baths: 0
  • Actual Rent: $2,022
  • Total Rent: $2,022
  • Pro Forma/Market Rent: $2,142
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: --
  • # of Baths: 0
  • Actual Rent: $1,485
  • Total Rent: $1,485
  • Pro Forma/Market Rent: $2,380
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: --
  • # of Baths: 0
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $4,687
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: --
  • # of Baths: 0
  • Actual Rent: $1,295
  • Total Rent: $1,295
  • Pro Forma/Market Rent: $2,380
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.22%
  • Gross Rent Multiplier: 9.49
  • Gross Scheduled Income: $626,943
  • Net Operating Income: $370,074
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $238,061
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Open Houses for 2709 W Pico Blvd

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Property Details for 2709 W Pico Blvd

Interior Features
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 43
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Corner of Pico Blvd and Fedora St
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 2709 W Pico Blvd

View property's historical transactions

  • April, 2024

  • Apr 1, 2024

    Date

    Active

    CRMLS: SB24052600

    $5,950,000

    Price

Tax History for 2709 W Pico Blvd

Recent tax history for this property
Year Land Value Improved Value Assessed Value
The tax history for this property will expand as we gather information for this property.

Home Value Compared to the Market

This property vs the competition

2709 W Pico Blvd is listed 385.71% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $165.36 per/sqft which puts the price per square foot 78.64% lower than the median price per square foot for the city of Los Angeles.

About 2709 W Pico Blvd

Detailed summary of property

2709 W Pico Blvd is a apartment located in Los Angeles, CA 90006 and is currently for sale. This apartment offers 4 bedrooms, 36 bathrooms, roughly 35,982 living square feet, and sits on an approximately 14,259 square foot lot. 2709 W Pico Blvd was first listed on ArdentRealEstateGroup.com on March 15, 2024. The homeowner is currently asking $5,950,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 385.71% higher than the median priced home. Local competing homes currently for sale include 3365 Hamilton Way, 1615 Park Ave and 526 W 47th St. While the average home in Los Angeles, CA is selling in 96 days, 2709 W Pico Blvd has a days on market of 24 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 2709 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 2709 W Pico Blvd

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
--
Stories
--
Type
--
Pool
--
Spa
--
County
--
Lot#
--
APN
--

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.
$606
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
32
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%)

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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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