LP.com

Presenting a prime value-add opportunity at 1758 S New England St. A five (5)-unit Pico Union property available for purchase consisting of two separate buildings. The front two-story building features four (4) one-bedroom units, while the rear, freestanding building features one (1) three-bedroom single family home, and secondary property access through a back street alley. Totaling 4,494 of square footage on a sizable 7,947 SF lot, this property offers ample parking space for tenants and the potential for a new owner to develop an ADU. The building has undergone several capital improvements during the current sellers’ time of ownership including: a full electrical upgrade (service, main panel, and sub-panels); copper plumbing (all units); building’s stucco over wood sidings; 28-windows replaced and a new second exit exterior wood stairway was installed for the two-story building. In addition, the front building’s roof was replaced in 2016 and the back house’s roof was replaced in 2022. (Buyer to verify & conduct due diligence). The subject property has a central location within high-growth neighborhoods, an easy commute to DTLA, Los Angeles Convention Center, University of Southern California, Crypto.com Arena, L.A. Live, Banc of California Stadium, and walking distance to numerous Metro rail and bus line stops. While this sub-market draws its tenant's base from the vibrant employment hubs of Downtown Los Angeles, West LA, and Hollywood, a new investor can benefit from re-tenanting this asset to achieve a massive Proforma CAP Rate of over ±8.6% and a low Proforma GRM of ±8.4! (Buyer to verify).