5937 Avalon Boulevard, Los Angeles, CA 90003

$3,995,000 Approx. USD 9 beds, 28 baths
28,648 sqft

Agent Remarks

Great upleg opportunity. Diversify your portfolio with this well-maintained mixed-use building in southeast LA. The building was substantially renovated between 2004-2007. This mixed-use building offers a diverse array of income streams. The building consists of 22 residential units (9 one bedroom units & 13 singles) and 10 commercial units. The commercial units include: a market/store, juice store/restaurant, discount retail store, hair salon, apparel manufacturing, & multiple warehouses. There is on-site coin laundry, potentially rentable secure storage rooms, and one warehouse space not currently leased. The current Cap Rate is 7.4% (based on current property tax rate) and approximate GRM of 9.76, the Pro Forma Cap Rate is 7.23% (based on future property tax rate) and the Pro Forma GRM is 8.88. All units are leased except 1 commercial unit (small warehouse), which may or may not be leased prior to COE. Tenants pay their own utilities, except water and trash. Each unit is separately metered for gas and electric. Buyer is advised to independently verify all aspects of the property. Zoned LACM for commercial/ofc/residential mixed-use. Price per SF: $139.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 316009767
List price is $3,995,000
Beds: 9
Baths: 28
Built in 1920
28,648 sqft
2 Story stories
0.37 acres
County: Los Angeles
Zoning: LACM
Parking type: Private (N)
Interior features: High Ceilings (9 Feet ),9 Foot Ceilings (N),Storage Space
Parking description: Uncovered
Lot description: Lot-Level/Flat,Lot Shape-Rectangular,Corners Established,Fully Fenced (N),No Yard (N),Sidewalks,Street Public (N),Walk Street,Street Asphalt,Street Concrete
Heating description: Wall Heater
MLS area: Downtown L.A. (C42)

Last Updated: 11/1/2016

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This listing belongs to the Downtown L.A. (C42) MLS area

The listing is zoned LACM.
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Broker: Courtesy of John Aaroe Group Inc
Listing Agent: James Tripodes

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Out of households, are families.

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