Los Angeles, CA 90044
Los Angeles, CA 90044
Los Angeles, CA 90044
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John R Thompson

John R Thompson

+1(805) 796-5221
Listed by Alexandro Colombo • Keller Williams Coastal Prop.
$730,000
Est. payment /mo
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UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW-26199476

Year Built 1921

Property Sub-Type Mixed Use

Source California Regional Multiple Listing Service (CRMLS)

Property Description

NOW $730,000. Mixed-use property consisting of a retail storefront, detached 3BR/2BA residence and two storage spaces. Current gross income is $76,800/year, with the retail tenant paying $2,700/month on a month-to-month basis, the residence at $3,100/month and one storage space at $600/month. The second storage space has been fully remodeled and is currently vacant, creating an immediate lease-up opportunity with a target rent of $750/month. Leasing the vacant storage increases gross income to $85,800/year, with full pro forma gross income of $99,600/year. The month-to-month retail tenancy gives a buyer flexibility to retain the existing tenant, re-lease the storefront or pursue owner occupancy. Property includes 11 on-site parking spaces, ±2,854 SF of improvements on a ±6,569 SF lot and LAC2 zoning. $119,000 price reduction from the original asking price. Existing income, immediate lease-up and control of the retail component at a $730,000 entry price.

Location

State CA

County Los Angeles

Area C34 - Los Angeles Sw

Interior

Laundry None

Building

Lot Description 2-5 Units/Acre

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John R Thompson

John R Thompson

+1(805) 796-5221

Broker/Owner License ID: 01200900

Broker/Owner License ID: 01200900

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