For Sale
$595,000

8911 Western AveLos Angeles, CA 90047

3-Unit Value-Add Opportunity, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional mixed-use property, located at 8911 S Western Ave, Los Angeles, CA 90047, presents a compelling value-add investment opportunity. The property encompasses 2,058 square feet on a 2,813 square foot lot and features three units: two 726 square foot commercial storefronts and one 1-bedroom, 1-bathroom residential bungalow. Built in 1947 and 1948, the property consists of two separate structures, with the residential unit offering alley access. Currently operating at 33% occupancy, the property boasts a Net Operating Income (NOI) of $35,772, translating to a 6.01% cap rate. A pro-forma analysis projects a significant increase in NOI to $37,541, resulting in a 6.31% cap rate, showcasing the substantial upside potential. The asking price is $595,000, representing a price per square foot of $289.12. The property is zoned LAC2, offering flexibility for various uses. With two vacant units—one commercial and one residential—this property provides a unique opportunity for immediate income generation and value enhancement through lease-up and potential renovations. The property's location in Los Angeles offers strong potential for rental income and appreciation. This is an ideal investment for those seeking a value-add opportunity with significant upside potential in a desirable Los Angeles location.

Highlights

  • $595,000 asking price for a mixed-use property.
  • 2,058 square feet, 3 units, on a 2,813 square foot lot.
  • 6.01% current cap rate, 6.31% pro-forma cap rate.
  • 33% occupancy, $35,772 current NOI, $37,541 pro-forma NOI.
  • Located at 8911 S Western Ave, Los Angeles, CA 90047.
  • Built in 1947, with LAC2 zoning.

Property Details for 8911 Western Ave

Property type
Mixed-use properties
Square Feet
2,058 SF
Year Built
1947
Buildings
1
Units
3

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
33.9559516135
Longitude
-118.30897110109
8911 Western Ave, Los Angeles, California

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8911 Western Ave
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