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Key Details
Sold Price $1,750,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID DW23042675
Year Built 1922
Annual Tax Amount $24,000
Lot Size 4,251 Sqft
Property Description
This East LA mixed use property offered at an in place, 6.7% Actual Cap Rate. This is a 100% occupied investment, offering strong and reliable cash flow. The building consists of 3 retail units on the ground floor, plus 4 residential units on the 2nd floor. The retail units are (a) Mexican restaurant, (b) Party Supply, (c) Herbalife. The retail units are easily rented, small stores of 950 sf - 1,100 sf each. The four residential units offer an appealing unit mix of one x 3 bedroom; two x 2 bedrooms; and one x 2 bedrooms + den. The residential units were all completely remodeled in 2019 including new floors, bathrooms, countertops, and upgraded electrical and plumbing. The property is frame and stucco construction type (NOT unreinforced masonry). There are 2 or 3 tandem parking spaces in the rear of the building that are exclusively used by the restaurant tenant. Please see the supplement for the rent roll, financials, and other pertinent information.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Interior
Laundry None
Building
Lot Description Corner Lot, Rectangular Lot
Water Public
Others
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML