MixeMixed-Use Investment Opportunity on Pico Boulevard
3069 W. Pico Boulevard presents an opportunity to acquire a four-unit mixed-use property
combining established commercial income with residential rental upside. The 2,549-square-foot
property consists of
(1) ±1,149SF restaurant space
(2) one-bedroom/one-bath units
(1) studio unit
The units and restaurant provide investors with a diversified income stream from both commercial
and residential uses, and a strong owner-user opportunity.
Strong In-Place Income with Additional Upside
The property currently generates approximately $94,428 in scheduled gross income, including
billboard income, with an estimated $56,476 current NOI. At the $895,000 asking price, the
investment is projected to deliver an approximately 6.31% current cap rate and 9.48 GRM.
Residential rents offer additional room for growth. The two one-bedroom units currently average
approximately $1,451 per month, compared with projected market rents of $1,650, while the studio
is currently rented at $1,133, compared with a projected market rent of $1,300. The restaurant is
currently generating $3,710 per month.
d-Use Investment Opportunity on Pico Boulevard
3069 W. Pico Boulevard presents an opportunity to acquire a four-unit mixed-use property
combining established commercial income with residential rental upside. The 2,549-square-foot
property consists of
(1) ±1,149SF restaurant space
(2) one-bedroom/one-bath units
(1) studio unit
The units and restaurant provide investors with a diversified income stream from both commercial
and residential uses, and a strong owner-user opportunity.
