Property Detail

Description

***Prime Jefferson Blvd Opportunity!*** Classic 2-story mixed-use building comprised of 7 Units. Retail beneath and 4 residential units on 2nd story. Lovingly cared-for by current owners, with stable, long-term tenants. 3 storefront retail units + 4 residential apartments on an LAC2 lot. This property needs some vision and a new owner can maximize their return by improving the building in the future. For now it is sold as-it-looks and sold as-it-is (as-is). (**Designated FEDERAL OPPORTUNITY ZONE 1.0 which provides potential tax break incentives. Buyer to verify**) Tremendous future potential in an upcoming area, on a prominent commercial corridor, in the heart of the city. Jefferson Blvd is a major thoroughfare that links USC/Downtown (east) to Culver City (west). Along Jefferson Blvd, there are many popular businesses already, including SOUTH LA CAFE, Harold and Belle's and Highly Likely. Great prominent visibility for businesses that want storefront visibility. Great Playground Park and early education center across the street. Property maximum potential will require some construction investment, so please make your offer assuming an as-is purchase (seller will not offer repair concessions during escrow). Convenient access to exposition rail line nearby. Located in HPOZ Jefferson Park neighborhood, which is a very close knit community featuring some of the most classic examples of historic Craftsman homes in the city. With popular neighborhoods in all directions, this property is a perfect investment if you are looking for a mixed-use property to revamp and maximize. Priced with strong ACTUAL cap rates, even with existing under-market lease prices. Pro-forma future potential is even better.