20
See all 20 photos
$1,695,000
Est. payment /mo
2 Beds
11 Baths
7,216 SqFt
Price Dropped by $100K
2906 S San Pedro ST Los Angeles, CA 90011
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,216 sqft
Price per Sqft $234
MLS Listing ID 25520821
Bedrooms 2
HOA Y/N No
Year Built 1915
Lot Size 4,748 Sqft
Property Description
$100,000 price reduction, the seller is motivated! Discover an incredible investment opportunity with this 11-unit mixed-use cash cow with tremendous upside, ideally located in vibrant Los Angeles, just a stone's throw from Downtown! Nestled on lively San Pedro Street, this property boasts fantastic visibility for its retail shops anchored by a supermarket. The second floor features 7 residential units, offering strong room for growth. Currently operating at a solid 7.63% cap rate and an 9.27 GRM, there's exciting potential to achieve a remarkable 13.7% cap rate and a 5.93 GRM in the future, much of it realizable in the near term with thriving retail tenants (supermarket occupying 2 spaces or 50% of the retail space) that have been present for years most of which continue to be on month to month leases. With 7,216 square feet of space, you'll find exceptional value at only $235 per square foot and $154k per unit. Whether you're pursuing a 1031 exchange or seeking immediate cash flow coupled with growth potential, this property is a fantastic choice!
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning R3
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Exterior
Parking Features None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5128015034
Special Listing Condition Standard
Listed by Armin Soleimani Global Platinum Properties, Inc.