7,355 SF Retail: Occupy or Convert to 13 ADUs | 3023-3035 S Grand Ave
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7,355 SF Retail: Occupy or Convert to 13 ADUs 3023-3035 S Grand Ave
18 Unit Apartment Building $4,000,000 ($222,222/Unit) 4.29% Cap Rate Los Angeles, CA 90007
Investment Highlights
- 7,355 SF Ground Floor Retail: Occupy with Your Business or Convert to 13 ADU's - Accessory Dwelllling Units
- Apx. 11’ ceiling. Five unit walls can be opened up to connect throughout.
- Collect Additional $14,621/month Apartment Investment Income: 13 units
- Possible Uses: Contractor, school, church, clinic, wholesale warehouse storage, industrial manufacturing, art gallery
- Five Month to Month Retail Stores. Tenants pay electricity expense.
- 2-story building. 10,925 sf land. Opportunity zone.
Executive Summary
Ground floor retail: 7,355 sf, month-to-month tenants. User occupy for creative office/industrial or Convert to 5 to 13 ADU - Accessory Dwelling Units apartments that do not require additional parking - Buyer to confirm.
Second floor: 13 apartments, currently leased, providing income. Located 4 blocks northeast of USC - University of Southern California. Ideal for mixed use, contractors, schools, churches, clinics, art galleries, or industrial manufacturing.
For Sale $4,000,000 or $272/sf! Occupy Up to 7,355 SF Ground Floor Retail with Your Business: Five units. 14,711 SF Building. 8 Parking Spaces.
Apx. 11’ ceiling. Walls can be opened up to connect throughout. Five Month to Month stores. Tenants pay electricity expense.
Collect Additional $14,621/month Apartment Investment Income: 13 units
4 blocks northeast of USC. 100% occupied 18 units.
Mixed use, income producing opportunity. 2-story building.
10,925 sf land. Opportunity zone.
Actual $171,696 annual net operating income. Actual 4.3% capitalization rate of return.
Heavy traffic location. Northwest corner of Grand Avenue and 31st Street.
Projected pro forma $186,335 annual net operating income. Pro forma 4.7% capitalization rate of return. .
109.25' frontage on Grand Avenue and 100' on 31st Street.
Just 3 blocks east of the USC Campus. 1-mile south of the Santa Monica (I-10) Freeway and Downtown Los Angeles — 1-1/2 miles south of Crypto.com Arena and LA LIVE
Second floor: 13 apartments, currently leased, providing income. Located 4 blocks northeast of USC - University of Southern California. Ideal for mixed use, contractors, schools, churches, clinics, art galleries, or industrial manufacturing.
For Sale $4,000,000 or $272/sf! Occupy Up to 7,355 SF Ground Floor Retail with Your Business: Five units. 14,711 SF Building. 8 Parking Spaces.
Apx. 11’ ceiling. Walls can be opened up to connect throughout. Five Month to Month stores. Tenants pay electricity expense.
Collect Additional $14,621/month Apartment Investment Income: 13 units
4 blocks northeast of USC. 100% occupied 18 units.
Mixed use, income producing opportunity. 2-story building.
10,925 sf land. Opportunity zone.
Actual $171,696 annual net operating income. Actual 4.3% capitalization rate of return.
Heavy traffic location. Northwest corner of Grand Avenue and 31st Street.
Projected pro forma $186,335 annual net operating income. Pro forma 4.7% capitalization rate of return. .
109.25' frontage on Grand Avenue and 100' on 31st Street.
Just 3 blocks east of the USC Campus. 1-mile south of the Santa Monica (I-10) Freeway and Downtown Los Angeles — 1-1/2 miles south of Crypto.com Arena and LA LIVE
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$249,248
|
$16.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$249,248
|
$16.94
|
| Taxes |
$50,000
|
$3.40
|
| Operating Expenses |
$27,552
|
$1.87
|
| Total Expenses |
$77,552
|
$5.27
|
| Net Operating Income |
$171,696
|
$11.67
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $249,248 |
| Annual Per SF | $16.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $249,248 |
| Annual Per SF | $16.94 |
| Taxes | |
|---|---|
| Annual | $50,000 |
| Annual Per SF | $3.40 |
| Operating Expenses | |
|---|---|
| Annual | $27,552 |
| Annual Per SF | $1.87 |
| Total Expenses | |
|---|---|
| Annual | $77,552 |
| Annual Per SF | $5.27 |
| Net Operating Income | |
|---|---|
| Annual | $171,696 |
| Annual Per SF | $11.67 |
Property Facts
Site Amenities
- Fenced Lot
Walk Score ®
Very Walkable (89)
Transit Score ®
Excellent Transit (83)
Bike Score ®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,809,080 | |
| Land Assessment | $1,040,400 | Annual Taxes | $50,000 ($3.40/SF) |
| Improvements Assessment | $1,768,680 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,040,400
Improvements Assessment
$1,768,680
Total Assessment
$2,809,080
Annual Taxes
$50,000 ($3.40/SF)
Tax Year
2024
zoning
| Zoning Code | LA M1-2 |
| LA M1-2 |
-
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7,355 SF Retail: Occupy or Convert to 13 ADUs | 3023-3035 S Grand Ave
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