20
See all 20 photos
$1,850,000
Est. payment /mo
2 Beds
11 Baths
7,216 SqFt
Price Dropped by $145K
2906 S San Pedro ST Los Angeles, CA 90011
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,216 sqft
Price per Sqft $256
MLS Listing ID 25520821
Bedrooms 2
HOA Y/N No
Year Built 1915
Lot Size 4,748 Sqft
Property Description
Unlock a remarkable investment opportunity with this exceptional 11-unit mixed-use property strategically situated in the dynamic heart of Los Angeles, mere minutes from Downtown! Located on the bustling San Pedro Street, this asset offers outstanding visibility for its retail establishments, anchored by a reliable supermarket. No retail experience required for this asset as all retailers have been here for 5-10 years +. The upper level features 7 well-appointed residential units, presenting significant opportunities for growth.Currently, the property operates at a robust 6.8% cap rate with a 10.25 GRM. Exciting potential exists to elevate these metrics to an impressive 12.2% cap rate and a 6.4 GRM in the near future, thanks to flourishing retail tenantsincluding a supermarket occupying 50% of the retail spacemost of whom remain on flexible month-to-month leases allowing immediate upside for a new owner. With a generous 7,219 square feet of total space, this investment offers exceptional value at just $256 per square foot and $ 168,182 per unit. Whether you're exploring a 1031 exchange or searching for immediate cash flow paired with growth possibilities, this property stands out as an ideal choice!
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning R3
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Exterior
Parking Features None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5128015034
Special Listing Condition Standard
Listed by Armin Soleimani • Global Platinum Properties, Inc.
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Kandy Katz
Agent | RE. S.0195787