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Natalie Miranda
marketing@thewhipplegroup.com$ 2,500,000
Est. payment | /mo
6,721 Sqft Lot
$ 2,500,000
Est. payment | /mo
6,721 Sqft Lot
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25085341
HOA Y/N No
Year Built 1922
Lot Size 6,721 Sqft
Property Sub-Type Retail
Property Description
INVESTOR'S DREAM ON PICO BLVD, FULLY LEASED RETAIL STRIP WITH STRONG RETURNS, 2271–2281 W PICO BLVD, LOS ANGELES, CA 90006.
THIS IS A RARE OPPORTUNITY TO ACQUIRE A 100% LEASED, HIGH-PERFORMING RETAIL CENTER IN THE HEART OF ONE OF LOS ANGELES' BUSIEST COMMERCIAL CORRIDORS. WITH RENTAL INCOME AND 3% ANNUAL INCREASES, THIS ASSET DELIVERS A STRONG CAP RATE OF OVER 6%, BACKED BY LONG-TERM, STABLE TENANTS AND ZERO VACANCY. THE PROPERTY CONSISTS OF SIX STREET-FACING RETAIL UNITS, ANCHORED BY A WELL-KNOWN PERUVIAN ROTISSERIE CHICKEN RESTAURANT THAT DRAWS CONSISTENT FOOT TRAFFIC. ADDITIONAL TENANTS INCLUDE A BICYCLE SHOP, NAIL SALON, ICE CREAM SHOP, BOUTIQUE FASHION STORE, OPTICAL SHOP, AND A DOLLAR STORE. ALL TENANTS TO ARE ON MODIFIED GROSS LEASES, COVERING THEIR OWN UTILITIES AND MAINTENANCE, WHICH ENSURES MINIMAL LANDLORD RESPONSIBILITIES AND MAXIMUM NET INCOME. SITUATED ON HIGH-VISIBILITY PICO BLVD, THE PROPERTY BENEFITS FROM STRONG VEHICLE AND PEDESTRIAN TRAFFIC DAILY. THE ROOF WAS REPAIRED IN 2024, ADDING FURTHER VALUE AND REDUCING NEAR-TERM CAPITAL NEEDS. THIS IS A TURNKEY, INCOME-PRODUCING INVESTMENT WITH BUILT-IN RENTAL GROWTH, IDEAL FOR INVESTORS SEEKING RELIABLE CASH FLOW, LONG-TERM APPRECIATION, OR A SOLID 1031 EXCHANGE REPLACEMENT. A STRATEGIC ADDITION TO ANY PORTFOLIO. PLEASE DO NOT DISTURB TENANTS. DRIVE BY ONLY.
THIS IS A RARE OPPORTUNITY TO ACQUIRE A 100% LEASED, HIGH-PERFORMING RETAIL CENTER IN THE HEART OF ONE OF LOS ANGELES' BUSIEST COMMERCIAL CORRIDORS. WITH RENTAL INCOME AND 3% ANNUAL INCREASES, THIS ASSET DELIVERS A STRONG CAP RATE OF OVER 6%, BACKED BY LONG-TERM, STABLE TENANTS AND ZERO VACANCY. THE PROPERTY CONSISTS OF SIX STREET-FACING RETAIL UNITS, ANCHORED BY A WELL-KNOWN PERUVIAN ROTISSERIE CHICKEN RESTAURANT THAT DRAWS CONSISTENT FOOT TRAFFIC. ADDITIONAL TENANTS INCLUDE A BICYCLE SHOP, NAIL SALON, ICE CREAM SHOP, BOUTIQUE FASHION STORE, OPTICAL SHOP, AND A DOLLAR STORE. ALL TENANTS TO ARE ON MODIFIED GROSS LEASES, COVERING THEIR OWN UTILITIES AND MAINTENANCE, WHICH ENSURES MINIMAL LANDLORD RESPONSIBILITIES AND MAXIMUM NET INCOME. SITUATED ON HIGH-VISIBILITY PICO BLVD, THE PROPERTY BENEFITS FROM STRONG VEHICLE AND PEDESTRIAN TRAFFIC DAILY. THE ROOF WAS REPAIRED IN 2024, ADDING FURTHER VALUE AND REDUCING NEAR-TERM CAPITAL NEEDS. THIS IS A TURNKEY, INCOME-PRODUCING INVESTMENT WITH BUILT-IN RENTAL GROWTH, IDEAL FOR INVESTORS SEEKING RELIABLE CASH FLOW, LONG-TERM APPRECIATION, OR A SOLID 1031 EXCHANGE REPLACEMENT. A STRATEGIC ADDITION TO ANY PORTFOLIO. PLEASE DO NOT DISTURB TENANTS. DRIVE BY ONLY.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAC2
Interior
Fireplace No
Laundry None
Exterior
Present Use Commercial
Building
Lot Description 6-10 Units/Acre, Rectangular Lot
Story 1
Water Public
Others
Tax ID 5076016011
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Lena Byun • New Star Realty & Investment • 213-760-0044
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Natalie Miranda
Marketing Director | License ID: 02122928