3023-3035 S Grand Ave - Apartments FOR SALE


Los Angeles, CA 90007
$4,000,000 USD
213-222-1209
3023-3035 S Grand Ave, Los Angeles, CA for Sale
$4,000,000 USD
Apartments - FOR SALE
1/10
null | 4.29% Cap Rate

3023-3035 S Grand Ave
Los Angeles, CA 90007


HIGHLIGHTS

  • 7,355 SF Ground Floor Retail: Occupy with Your Business or Convert to 13 ADU's - Accessory Dwelllling Units
  • Possible Uses: Contractor, school, church, clinic, wholesale warehouse storage, industrial manufacturing, art gallery
  • Apx. 11’ ceiling. Five unit walls can be opened up to connect throughout.
  • Five Month to Month Retail Stores. Tenants pay electricity expense.
  • Collect Additional $14,621/month Apartment Investment Income: 13 units
  • 2-story building. 10,925 sf land. Opportunity zone.

OVERVIEW

Ground floor retail: 7,355 sf, month-to-month tenants. User occupy for creative office/industrial or Convert to 5 to 13 ADU - Accessory Dwelling Units apartments that do not require additional parking - Buyer to confirm. Second floor: 13 apartments, currently leased, providing income. Located 4 blocks northeast of USC - University of Southern California. Ideal for mixed use, contractors, schools, churches, clinics, art galleries, or industrial manufacturing. For Sale $4,000,000 or $272/sf! Occupy Up to 7,355 SF Ground Floor Retail with Your Business: Five units. 14,711 SF Building. 8 Parking Spaces. Apx. 11’ ceiling. Walls can be opened up to connect throughout. Five Month to Month stores. Tenants pay electricity expense. Collect Additional $14,621/month Apartment Investment Income: 13 units 4 blocks northeast of USC. 100% occupied 18 units. Mixed use, income producing opportunity. 2-story building. 10,925 sf land. Opportunity zone. Actual $171,696 annual net operating income. Actual 4.3% capitalization rate of return. Heavy traffic location. Northwest corner of Grand Avenue and 31st Street. Projected pro forma $186,335 annual net operating income. Pro forma 4.7% capitalization rate of return. . 109.25' frontage on Grand Avenue and 100' on 31st Street. Just 3 blocks east of the USC Campus. 1-mile south of the Santa Monica (I-10) Freeway and Downtown Los Angeles — 1-1/2 miles south of Crypto.com Arena and LA LIVE

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$272 USD /SF

# OF UNITS

18

PRICE/UNIT

$222,222

CAP RATE

4.29%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7,355 SF Retail: Occupy or Convert to 13 ADUs

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,925 SF

ZONING

LA M1-2

APN/PARCEL ID

5122-018-014,5122-018-016

ASK ABOUT THIS PROPERTY

Ron KimMajor PropertiesMore Info
213-222-1209

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Ron KimMajor PropertiesMore Info
213-222-1209

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.