1735 7th Street

Offered at: $4,300,000

Year Built: 1913

Region: 699 - Not Defined

MLS#: SB25193453

Status: Active

Property Description

1735 7th St // 694 S Burlington Ave is a 32-unit mixed use building located in the Pico Union neighborhood. This massive 30,319 sqft building is offered at only $134k/unit and $141/sqft. The property is currently operating at a 6.68% CAP and 8.30 GRM. There is still over 51% upside available once the property is stabilized. The property is individually metered for gas and electricity. The building is comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1Bed+1Bath, (13) Studio+1Bath. Currently (2) studio/1-bath units are vacant, offering immediate upside in rental income. 694 S Burlington Ave is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.