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22 Units (15 Apartments + 7 Retail Units) 2500 W Pico Blvd 17,624 SF 100% Leased Retail Building Los Angeles, CA 90006 $7,170,436 CAD ($406.86 CAD/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Stabilized Leased Investment / In-place Cap Rate 7.25%
- Anchor Tenant - 18.28% of Operating Expenses Absorbed by NNN Lease (Buyer to Implement)
- Tremendous Visibility, Exposure, and Frontage - Strong Pico-Union Location
- Excellent Foot Traffic and Density
- 15 - 2nd Floor Upstairs Unit Mix: (6) Studios & (9) 1 Bedroom + 1 Bath
- .67 Miles North of 10 Freeway and 1 Mile Away from 110 Freeway - Next to Loyal High School
EXECUTIVE SUMMARY
Kidder Mathews is the Exclusive Broker for a 15 unit apartment building with 7 street level retail units, situated on the Southwest signalized corner of Pico Blvd and Vermont Avenue. This property has seasoned street-level retail tenants, only the anchor Tenant (Pulgarcito Restaurant) is on a triple net lease leaving real upside the remaining retail. The second floor has a great unit mix for this Pico-Union submarket: 6 Studios and 9 (1 bedroom + 1 Bath) apartments, with many of these units have been upgraded as they have rolled over. This is an ideal investment for an astute Buyer who could continue repositioning the asset capture even higher returns with the residential and retail tenancy.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$694,435
|
$39.40
|
| Other Income |
$33,875
|
$1.92
|
| Vacancy Loss |
$21,849
|
$1.24
|
| Effective Gross Income |
$706,460
|
$40.09
|
| Taxes |
-
|
-
|
| Operating Expenses |
$186,721
|
$10.59
|
| Total Expenses |
$186,721
|
$10.59
|
| Net Operating Income |
$519,739
|
$29.49
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $694,435 |
| Annual Per SF | $39.40 |
| Other Income (CAD) | |
|---|---|
| Annual | $33,875 |
| Annual Per SF | $1.92 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $21,849 |
| Annual Per SF | $1.24 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $706,460 |
| Annual Per SF | $40.09 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $186,721 |
| Annual Per SF | $10.59 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $186,721 |
| Annual Per SF | $10.59 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $519,739 |
| Annual Per SF | $29.49 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
17,624 SF
Building Class
C
Year Built/Renovated
1922/2018
Price
$7,170,436 CAD
Price Per SF
$406.86 CAD
Cap Rate
7.25%
NOI
$519,857 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.46
Lot Size
0.28 AC
Zoning
C2-2D-CPIO - Commercial
Parking
4 Spaces (0.23 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Property Manager on Site
- Restaurant
- Signage
- Skylights
- Balcony
- Smoke Detector
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5075-001-001 | Total Assessment | $5,766,458 CAD (2025) |
| Land Assessment | $3,814,637 CAD (2025) | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,951,821 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5075-001-001
Land Assessment
$3,814,637 CAD (2025)
Improvements Assessment
$1,951,821 CAD (2025)
Total Assessment
$5,766,458 CAD (2025)
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2024
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22 Units (15 Apartments + 7 Retail Units) | 2500 W Pico Blvd
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