Pico Apartments | 2314 W Pico Blvd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Pico Apartments 2314 W Pico Blvd
16 Unit Apartment Building $2,600,000 ($162,500/Unit) 4.56% Cap Rate Los Angeles, CA 90006
Investment Highlights
- 16-Unit PRIME Value-Add Opportunity!
- STRONG Central Location! Perfectly adjacent to Koreatown, Downtown Los Angeles, Harvard Heights, Mid-City, MacArthur Park, and University Park.
- Individually Metered for Gas & Electricity!
- Excellent Rental Upside of about ±53% and over ±8.52% Proforma CAP Rate
- Recent Major CAPEX: Earthquake Retrofitting, Mini Split A/C Systems for each unit, Full Electrical Upgrade (service + main panel).
- Efficient Unit Mix (16) Large Studios of about ±500 SQFT each
Executive Summary
Growth Investment Group is 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 ±8.52% and low Proforma GRM of ±8.46x (Buyer to verify)!
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 a efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers spacious and functional layout which includes large full kitchens & bathroom with a large closet space. The building has undergone major capital improvements in the recent years which include: full electrical upgrade (service and main panel - 2019), earthquake retrofitted (2019), and new mini split A/C system for each unit. 2-Units have been fully upgraded: Paint, Flooring, Appliances, Cabinets and Countertops. (Buyer to Verify) and 4-Units have been updated with Paint, Flooring and Appliances. (Buyer to Verify)
Right off Pico Blvd & Magnolia Ave, located within 5-12 Minutes away from Koreatown, Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Country Club Park, Silver Lake, Echo Park, East Hollywood, and Historic Filipino town. 2314 W Pico Blvd is in perfect adjacency to many of Los Angeles trendiest boutique restaurants, coffee shops and upscale bars, It’s location also provides easy access to many of the city’s largest & strongest employers and major retailers. Some of employers include University of Southern California, Fashion Institute of Design & Merchandise, Crypto Arena, Koreatown Plaza, Los Angeles Convention Center, Los Angeles Financial & Arts District, Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, and American Career College. All of this while providing easy access to the 101 & 110 Freeways
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 a efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers spacious and functional layout which includes large full kitchens & bathroom with a large closet space. The building has undergone major capital improvements in the recent years which include: full electrical upgrade (service and main panel - 2019), earthquake retrofitted (2019), and new mini split A/C system for each unit. 2-Units have been fully upgraded: Paint, Flooring, Appliances, Cabinets and Countertops. (Buyer to Verify) and 4-Units have been updated with Paint, Flooring and Appliances. (Buyer to Verify)
Right off Pico Blvd & Magnolia Ave, located within 5-12 Minutes away from Koreatown, Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Country Club Park, Silver Lake, Echo Park, East Hollywood, and Historic Filipino town. 2314 W Pico Blvd is in perfect adjacency to many of Los Angeles trendiest boutique restaurants, coffee shops and upscale bars, It’s location also provides easy access to many of the city’s largest & strongest employers and major retailers. Some of employers include University of Southern California, Fashion Institute of Design & Merchandise, Crypto Arena, Koreatown Plaza, Los Angeles Convention Center, Los Angeles Financial & Arts District, Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, and American Career College. All of this while providing easy access to the 101 & 110 Freeways
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $162,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.56% | Building Size | 9,408 SF |
| Gross Rent Multiplier | 12.95 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment |
| Price | $2,600,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 4.56% |
| Gross Rent Multiplier | 12.95 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 9,408 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1922 |
Unit Amenities
- Air Conditioning
- Cable Ready
- Granite Countertops
- Hardwood Floors
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | - | 588 |
1 of 1
Walk Score ®
Walker's Paradise (92)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 5056-004-004 | Total Assessment | $2,600,000 (2024) |
| Land Assessment | $2,100,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $500,000 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5056-004-004
Land Assessment
$2,100,000 (2024)
Improvements Assessment
$500,000 (2024)
Total Assessment
$2,600,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | C2, Los Angeles |
| C2, Los Angeles |
1 of 17
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Pico Apartments | 2314 W Pico Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.