3524 E Pico Blvd
3 Unit Apartment Building $1,175,000 ($391,667/Unit) 2.02% Cap Rate Los Angeles, CA 90023
INVESTMENT HIGHLIGHTS
- Duplex & Single-Family House on Adjacent Lots
- Desirable Owner-User Potential
- Potential Opportunity to Add ADUs (Accessory Dwelling Units) | Qualifies for Residential Financing
- Outstanding Development Opportunity - Combined Lot Size of 8,484-Square Feet
- Unit Mix (One) 2-Bedroom/1-Bathroom House & (Two) 1- Bedroom/1-Bathroom Units
- Located Near Citadel Outlets, Los Angeles Community Hospital, East L.A. College, Costello J. Recreation Center and the City of Commerce
EXECUTIVE SUMMARY
Single-family residence and duplex situated an adjacent parcels. Each parcel has its own APN (Assessor Parcel Number).
3524 E. Pico Boulevard is a duplex and features (two) 1-bedroom/1-bathroom stand-alone units and 3528 E. Pico Boulevard is a 2-bedroom/1-bathroom house. The property contains a combined lot size of 8,484 SF and is zoned LAM2 (Light Industrial). The large lot presents desirable development potential or the opportunity to add ADUs (Accessory Dwelling Units).
The asset also presents an owner-user opportunity and the property may qualify for residential financing (Buyer to verify).
3524 E. Pico Boulevard is a duplex and features (two) 1-bedroom/1-bathroom stand-alone units and 3528 E. Pico Boulevard is a 2-bedroom/1-bathroom house. The property contains a combined lot size of 8,484 SF and is zoned LAM2 (Light Industrial). The large lot presents desirable development potential or the opportunity to add ADUs (Accessory Dwelling Units).
The asset also presents an owner-user opportunity and the property may qualify for residential financing (Buyer to verify).
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $1,175,000 |
| Price Per Unit | $391,667 |
| Sale Type | Investment |
| Cap Rate | 2.02% |
| Gross Rent Multiplier | 23.04 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 1,877 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1923 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 1 | - | - |
1 of 1
Walk Score®
Very Walkable (81)
ZONING
| Zoning Code | LAM2 (M2 (Light Industrial)) |
