$875,000
3300 E 8th ST Los Angeles, CA 90023
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$875,000
Est. payment /mo
5,950 Sqft Lot
Active
3300 E 8th ST Los Angeles, CA 90023
UPDATED:
10/16/2024 04:29 PM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW23227491
HOA Y/N No
Year Built 1923
Lot Size 5,950 Sqft
Property Description
$275K price update! MOTIVATED SELLERS! This mixed-use property features a blend of both commercial and residential spaces, making it an attractive prospect for investors seeking a diverse income stream and future growth potential. Boasting a generous lot size of 5,948 square feet, the property comprises two separate buildings—a 2,660-square-foot commercial market with a secure five-year lease and a 864-square-foot 2-bedroom/1-bath residence currently on a month-to-month tenancy.
The commercial market provides a stable income with a remaining five-year lease, offering investors a reliable return at an attractive 7% cap rate. Meanwhile, the residential unit adds flexibility, allowing for owner occupation, rental, or potential conversion opportunities. This property presents a unique house-hacking opportunity by combining a commercial unit with residential space, allowing owners to live in one while generating income from the other, effectively offsetting living expenses.
Priced at $500 per square foot for the residential component, this property is positioned competitively in the market. Its strategic location, with easy access to major transportation routes and proximity to downtown LA, further enhances its appeal. This investment opportunity not only provides immediate returns but also offers a diversified portfolio with long-term appreciation potential. Don't miss the chance to explore the possibilities of this mixed-use gem in Boyle Heights. Contact us today to seize this unique investment opportunity.
Developer? Tier 2 TOC bonus available.
Available separately or concurrently with neighboring property.
The commercial market provides a stable income with a remaining five-year lease, offering investors a reliable return at an attractive 7% cap rate. Meanwhile, the residential unit adds flexibility, allowing for owner occupation, rental, or potential conversion opportunities. This property presents a unique house-hacking opportunity by combining a commercial unit with residential space, allowing owners to live in one while generating income from the other, effectively offsetting living expenses.
Priced at $500 per square foot for the residential component, this property is positioned competitively in the market. Its strategic location, with easy access to major transportation routes and proximity to downtown LA, further enhances its appeal. This investment opportunity not only provides immediate returns but also offers a diversified portfolio with long-term appreciation potential. Don't miss the chance to explore the possibilities of this mixed-use gem in Boyle Heights. Contact us today to seize this unique investment opportunity.
Developer? Tier 2 TOC bonus available.
Available separately or concurrently with neighboring property.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Zoning LARD1.5
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Curbs, Street Lights, Sidewalks, Urban
Total Parking Spaces 1
Private Pool No
Building
Lot Description Level, Rectangular Lot
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5190023008
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Stelios Zoumberakis • Keller Williams Coastal Prop. • stelios@szcre.com