2314 W Pico Boulevard

Los Angeles, CA 90006

BK SALE/DISTRESSED ASSET! Kidder Mathews and Coldwell Banker Commercial Realty are pleased to present Pico Apartments, a 16-unit multifamily investment opportunity located at 2314 W Pico Boulevard in the Harvard Heights neighborhood of Los Angeles. The property consists of 16 single units and is 100% occupied, providing investors with immediate in-place cash flow and long-term rental upside.Offered at $1,750,000, the property provides an attractive basis of $109,375 per unit and a 7.59% cap rate on current operations. Significant capital improvements have already been completed, including a seismic retrofit, mini-split A/C in every unit, and a full electrical upgrade with individual meters. Eight of the 16 units currently rent for less than $1,000 per month, creating long-term income growth potential as units turn over and rents may be repositioned toward prevailing market levels, subject to applicable rent-control regulations.Strategically positioned between Koreatown, Downtown Los Angeles and the USC/Exposition Park corridor, the property offers a 91 Walk Score and convenient access to major employment, entertainment and educational destinations.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.