4 months on rocket

2314 W Pico Blvd, Los Angeles, CA, 90006

$2,600,000

0 Baths
Condo

Location

Image provided by Mapbox

Property Highlights

Home TypeCondominium
Year Built1922
MLS #AR24143091
Lot Size0.16 Acres
StatusActive

About 2314 W Pico Blvd

We're proud to present the sale of 2314 W Pico Blvd. A Prime Value-Add Opportunity at the heart of the Pico Union Neighborhood. This submarket has been on the rise for years as more and more luxury developments pour into the area pushing a high occupancy rate in the last decade. The offering consists of 16-Units with a low price per SQFT ±$276 which offers a whopping Proforma CAP Rate of over ±8.52% and low Proforma GRM of ±8.46x (Buyer to verify)! Built in 1922, this building consists of 16 exceptional units totaling ±9,408 SF of square footage on a sizeable ±7,003 SF lot. The property is an easily maintained two-story building, with a efficient unit mix of (16) large studios averaging ±500 SQFT each. Each unit offers spacious and functional layout which includes large full kitchens & bathroom with a large closet space. The building has undergone major capital improvements in the recent years which include: full electrical upgrade (service and main panel - 2019), earthquake retrofitted (2019), and new mini split A/C system for each unit. 2-Units have been fully upgraded: Paint, Flooring, Appliances, Cabinets and Countertops. (Buyer to Verify) and 4-Units have been updated with Paint, Flooring and Appliances. (Buyer to Verify) Right off Pico Blvd & Magnolia Ave, located within 5-12 Minutes away from Koreatown, Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Country Club Park, Silver Lake, Echo Park, East Hollywood, and Historic Filipino town. 2314 W Pico Blvd is in perfect adjacency to many of Los Angeles trendiest boutique restaurants, coffee shops and upscale bars, It’s location also provides easy access to many of the city’s largest & strongest employers and major retailers. Some of employers include University of Southern California, Fashion Institute of Design & Merchandise, Crypto Arena, Koreatown Plaza, Los Angeles Convention Center, Los Angeles Financial & Arts District, Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, and American Career College. All of this while providing easy access to the 101 & 110 Freeways

Property Details

Property Features

Property Information:

  • Year Built: 1922
  • Stories: 3

Listing Office:

  • Office Name: GIG Real Estate Inc.
  • Office Phone: (213) 595-8105
  • Listing Agent: Abel Benitez

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 0.16 Acres

Other

Directions Information:

  • Directions: Off the corner of Magnolia Ave & W Pico Blvd, next to small stripmall.

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,600,000

Tax Information:

  • Annual Amount: $26,686
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Los Angeles, CA.

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Los Angeles, CA

City

Med. Sold Price

$1.0M

Med. Price/SqFt

$640

Avg. Days On Market

38

# of Sold Homes

1542

2314 W Pico Blvd vs Los Angeles

127 DAYS ON ROCKET

+89 Days

$2,600,000

+$1.5M More

KEY TAKEAWAY

This property is $1.5M more than the Median Sold Price in Los Angeles, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #AR24143091

Listing Office:

  • Office Name: GIG Real Estate Inc.
  • Office Phone: (213) 595-8105
  • Listing Agent: Abel Benitez

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 2:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jul 20, 2020Home Sold
$2,100,000

Tax History

YEARPROP. TAXASSESSMENT
2021$26,686$2,102,560
2020$16,230$1,237,067
2019$16,087$1,212,812
2018$15,637$1,189,033
2017$15,637$1,165,719

History based on county public records data.

Payment Calculator

$13K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$7,861

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-508544
4
/10

  • Magnolia Avenue Elementary School

  • 1626 Orchard Ave

  • 0.25 miles

  • Public District Grades PK-5

school-card-donut-508545
2
/10

  • Politi Elementary School

  • 2481 W 11th St

  • 0.29 miles

  • Public District Grades KG-5

school-card-donut-508546
6
/10

  • Equitas Academy Charter

  • 1700 W Pico Blvd

  • 0.52 miles

  • Public Charter Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $22,417. Residents of Los Angeles, CA typically earn less than $35k each year. The majority of families are single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 2314 W Pico Blvd

What is the listing price of this property?

The listing price of 2314 W Pico Blvd property is $2,600,000.

What type of property is this?

The property 2314 W Pico Blvd is a condo located in Los Angeles, California, 90006.

Is this property for sale now?

Active Listing: 2314 W Pico Blvd is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $26,686 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on July 20, 2020 for $2,100,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 2314 W Pico Blvd is 1922.
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Rocket Homes›California›Los Angeles County›Los Angeles›90006›2314 W Pico Blvd

This home is located at 2314 W Pico Blvd in Los Angeles, CA and zip code 90006 in the Central LA neighborhood. This home, which was built in 1922, sits on a 0.16 acre lot. It has been listed on Rocket Homes since July 13, 2024 and is currently priced at $2,600,000.

Los Angeles, CA housing market in October 2024 saw over 598 listings sold above listed price, more than 191 sold at listed price and over 753 sold below. In October 2024 in Los Angeles, CA there were 11.2% more homes for sale than in September 2024. Listings spent 38 days on the market in October 2024, and had a median list price of $1,023,474 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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