2906 S San Pedro St new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90011
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,216 sqft
Price per Sqft $276
MLS Listing ID 25520821
Bedrooms 2
Year Built 1915
Lot Size 4,747 Sqft
Acres 0.109
Property Sub-Type Multi-Family
Property Description
Discover an incredible investment opportunity with this 11-unit mixed-use cash cow with tremendous upside, ideally located in vibrant Los Angeles, just a stone's throw from Downtown! Nestled on lively San Pedro Street, this property boasts fantastic visibility for its retail shops anchored by a supermarket. The second floor features 7 residential units, offering strong room for growth. Currently operating at a solid 6.19% cap rate and an 11.06 GRM, there's exciting potential to achieve a remarkable 11.25% cap rate and a 6.94 GRM in the future, much of it realizable in the near term with thriving retail tenants (supermarket occupying 2 spaces or 50% of the retail space) that have been present for years most of which continue to be on month to month leases. With 7,219 square feet of space, you'll find exceptional value at only $276 per square foot and $181,364 per unit. Whether you're pursuing a 1031 exchange or seeking immediate cash flow coupled with growth potential, this property is a fantastic choice!
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning R3
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Ceiling Fan
Equipment Refrigerator, Range/Oven
Exterior
Parking Features None
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard