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JUST LISTED – Mixed Use Property on Florence Ave in Los Angeles

MIXED USE PROPERTY ON FLORENCE AVE NEAR CRENSHAW BL WITH VACANT RETAIL SPACE

  • 7.1% CAP RATE AND 13.3 GRM
  • GREAT OPPORTUNITY FOR OWNER/USER OR INVESTOR.
  • CLOSE TO FUTURE CRENSHAW-LAX METRO LINE IN HYDE PARK NEIGHBORHOOD

florence aveDSC_9811 (1)Screen Shot 2015-08-19 at 2.01.11 PM

MIXED USE PROPERTY ON FLORENCE AVE NEAR CRENSHAW BOULEVARD. GREAT OPPORTUNITY FOR OWNER/USER OR INVESTOR. BUILDING FEATURES A GROUND FLOOR RETAIL SPACE CURRENTLY BUILT OUT AS A SOCIAL HALL AND A RESIDENTIAL 2 BEDROOM, 1 BATHROOM APARTMENT UNIT ON THE SECOND FLOOR WHICH HAS A GARAGE AND FENCED DRIVEWAY. THE RETAIL SPACE IS CURRENTLY VACANT WITH AN ASKING RENT OF $1500 PER MONTH. THE APARTMENT IS OCCUPIED WITH RENT OF $1025 PER MONTH. PROPERTY IS COMPETITIVELY PRICED IN A GROWING PARK HILLS HEIGHTS AND SELLER FINANCING IS AVAILABLE.

Price:$350,000

Building Size:1,950 SF

Lot Size: 2901 SF

Price/SF:$179.49

Property Type:Retail/Residential

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