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$ 900,000
Est. payment | /mo
3,724 Sqft Lot
$ 900,000
Est. payment | /mo
3,724 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID IG26042385
HOA Y/N No
Year Built 1951
Lot Size 3,724 Sqft
Property Sub-Type Mixed Use
Property Description
Mixed-Use Commercial +3BD Home (Ready for Occupancy) | Located in the heart of Los Angeles, is a fully stabilized mixed-use investment opportunity offering nearly an 8% CAP rate and strong in-place cash flow. The property consists of two retail storefronts facing S. Normandie Avenue, each approximately +/-800 square feet, and a detached single-family residence in the rear with its own private driveway and direct access to Normandie Ave., +/-1,000 square feet. The property is 50% occupied with long-term leases in place: The Mini Market pays $1,700 per month (lease expires March 1, 2027), the Storefront#2 (lease is MTM), and the Residential Unit-Vacant can be leased for +/-3,000.00 per month or used as a primary residence.
This turnkey asset offers investors a rare opportunity to acquire a well-maintained, income-producing property with diversified retail and residential income in a strong Los Angeles rental market.
This turnkey asset offers investors a rare opportunity to acquire a well-maintained, income-producing property with diversified retail and residential income in a strong Los Angeles rental market.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Fireplace No
Laundry Laundry Room
Building
Lot Description 0-1 Unit/Acre, No Landscaping, Rectangular Lot
Story 1
Water Public
Others
Tax ID 6055013042
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Special Listing Condition Standard
Listed by Kanani Stallings Keller Williams Realty 951-384-0094, DRE #02243057
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