1050 Park View StLos Angeles, CA 90006

Property Details for 1050 Park View St

Year built

1923

Construction

TILT-UP CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

10,948 SF

Zone code

LAC2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

5136-015-012

APU

5136015012

Description

This exceptional mixed-use property, located at 1050 S Park View St, Los Angeles, CA 90006, presents a compelling investment opportunity. The 10,948 square foot building, constructed in 1923, features a blend of 3 street-level commercial units and 18 residential studios across two stories. Currently operating at 85% occupancy, the property boasts a Net Operating Income (NOI) of $193,940, with a projected NOI of $277,379 after lease-up and potential renovations. The asking price is $3,600,000, translating to $328.83 per square foot and $171,428.57 per unit. The property sits on a 6,287 square foot lot and is zoned C2-2. Three residential units are delivered vacant, offering immediate value-add potential through lease-up and/or renovations. The strategic location in the Pico Union submarket, adjacent to Downtown LA, Koreatown, and major attractions like Crypto.com Arena and USC, ensures strong tenant demand. The seller is open to discussing seller financing options. This property offers a compelling combination of immediate income and significant upside potential, making it an attractive investment for discerning buyers. The property's APN is 5136-015-012. A pro-forma cap rate of 7.70% is projected.

• CAP approach

  CAP return

  Valuation

  6%

  $3,229,192

  6.5%

  $2,980,792

  7%

  $2,767,878

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,081,872

  Geo Method

  $2,081,872

• Alternative Use

  Use

  Valuation

  Residential

  $3,696,182

  Hospitality

  $3,385,683

  Educational

  $2,816,848

  Medical

  $2,913,724

  Retail

  $4,381,764

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0519

Longitude

-118.284

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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