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Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID SB25264688
HOA Y/N No
Year Built 1890
Property Sub-Type Apartment
Property Description
5 unit multi-family property in the Pico Union neighborhood of Los Angeles. First time on market in 30 years. All units occupied by long term tenants.
Rents are significantly below market and average $434/unit. Because of the low in place income the property will not qualify for conventional financing. All cash purchase preferred.
Beautiful Victorian style architecture. Located in the HPOZ (historical zone). Any new development would need to be approved by the historic preservation staff. Buyer to verify what can be permitted. Dense rental market close to DTLA, The Crypto Arena, LA Live and much more. Large 6,113 sq ft lot. Potential for an ADU to be added in the rear of the property which is currently used for open parking. Individually metered for utilities. Space for onsite laundry facility which would generate additional income. Most if not all of the major building components including roof, electrical and plumbing are approximately 20 years old. Most if not all of the interiors are original to semi original condition.
Rents are significantly below market and average $434/unit. Because of the low in place income the property will not qualify for conventional financing. All cash purchase preferred.
Beautiful Victorian style architecture. Located in the HPOZ (historical zone). Any new development would need to be approved by the historic preservation staff. Buyer to verify what can be permitted. Dense rental market close to DTLA, The Crypto Arena, LA Live and much more. Large 6,113 sq ft lot. Potential for an ADU to be added in the rear of the property which is currently used for open parking. Individually metered for utilities. Space for onsite laundry facility which would generate additional income. Most if not all of the major building components including roof, electrical and plumbing are approximately 20 years old. Most if not all of the interiors are original to semi original condition.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Suburban, Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5136020017
Energy Description 1.0
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Listed by Brian Estes Re/Max Commercial & Investment 310-963-2894
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