2-Unit Mixed Use Building in East LA | 3414 Fowler St
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2-Unit Mixed Use Building in East LA 3414 Fowler St
2,568 SF 100% Leased Retail Building Los Angeles, CA 90063 $699,000 ($272/SF) 2.81% Cap Rate
Investment Highlights
- There is 72 Percent Remaining Rental Upside Through Interior Renovations
- Located in a Dense Infill Pocket of East Los Angeles within a short drive to Downtown Los Angeles
- New Ownership has Potential to ADU to the Property Allowing for Added Future Growth and Appreciation Potential – Buyer to Verify
- Long Term Ownership, Family Owned and Operated and Has Not Been on Market in Over 20 Years
- Within Close Proximity to Local Schools and Medical Facilities, which Drives Rental Growth and Minimizes Leasing Times
Executive Summary
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a mixed use two unit commercial building located at 3414 Fowler Street. The subject property is located East of Soto Street and North of the 10 Freeway.
The building is within an 8-minute drive to the heart of Downtown Los Angeles, offering a slew of vibrant restaurants, cafes, bars, theaters, grocery stores, gyms, and entertainment choices. The location also provides strong employment drivers like University of Southern California Health Campus, Los Angeles General Medical Center, and East Los Angeles College.
Situated on a 4,844 square foot corner lot, the property is comprised of one one-bedroom apartment and a commercial retail unit. The property’s retail component serves a lot of the surrounding businesses through its convenient store tenant. There is more than 71% rental upside through interior renovations.
3414 Fowler St presents investors a unique opportunity to attain a rare mixed-use asset in an up-and-coming pocket of East Los Angeles that is a short distance to the most attractive thoroughfare in the submarket. This area is currently undergoing a burgeoning gentrification that will support continued rental growth for a new investor who is looking to capitalize on the value-add potential this asset offers.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a mixed use two unit commercial building located at 3414 Fowler Street. The subject property is located East of Soto Street and North of the 10 Freeway.
The building is within an 8-minute drive to the heart of Downtown Los Angeles, offering a slew of vibrant restaurants, cafes, bars, theaters, grocery stores, gyms, and entertainment choices. The location also provides strong employment drivers like University of Southern California Health Campus, Los Angeles General Medical Center, and East Los Angeles College.
Situated on a 4,844 square foot corner lot, the property is comprised of one one-bedroom apartment and a commercial retail unit. The property’s retail component serves a lot of the surrounding businesses through its convenient store tenant. There is more than 71% rental upside through interior renovations.
3414 Fowler St presents investors a unique opportunity to attain a rare mixed-use asset in an up-and-coming pocket of East Los Angeles that is a short distance to the most attractive thoroughfare in the submarket. This area is currently undergoing a burgeoning gentrification that will support continued rental growth for a new investor who is looking to capitalize on the value-add potential this asset offers.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,568 SF
Building Class
C
Year Built
1941
Price
$699,000
Price Per SF
$272
Cap Rate
2.81%
NOI
$19,624
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.53
Land Acres
0.11 AC
Zoning
LCM1*
Parking
2 Spaces (0.78 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 5224-015-012 | Improvements Assessment | $120,724 |
| Land Assessment | $301,816 | Total Assessment | $422,540 |
PROPERTY TAXES
Parcel Number
5224-015-012
Land Assessment
$301,816
Improvements Assessment
$120,724
Total Assessment
$422,540
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2-Unit Mixed Use Building in East LA | 3414 Fowler St
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