$675,000
3306 E 8th ST Los Angeles, CA 90023
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$675,000
Est. payment /mo
5,140 Sqft Lot
Active
3306 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 PW23227505
HOA Y/N No
Year Built 1922
Lot Size 5,140 Sqft
Property Description
$260K Price update! MOTIVATED SELLERS! Introducing an extraordinary investment opportunity nestled in the vibrant Boyle Heights neighborhood of Los Angeles. This mixed-use property, strategically positioned for both residential and commercial success, boasts a substantial lot size of 5,139 square feet. Comprising two separate buildings, the first encompasses a 728-square-foot salon, offering a turnkey investment with a month-to-month lease and an enticing 7% cap rate. The second building features a comfortable 2-bedroom/1-bath residence spanning 1,345 square feet. Notably, the residence includes a non-confirming studio—a hidden income potential not currently reflected in the existing revenue.
The month-to-month leases for both the salon and the residential unit provide flexibility for new owners, whether considering owner-occupation or optimizing rental terms. This property offers a unique house-hacking opportunity, allowing residents to live in the comfortable home while benefiting from the immediate income generated by the salon. Furthermore, with the potential for an SBA loan, financing options add an additional layer of appeal for savvy investors.
Priced attractively at $500 per square foot for the residential component, this property stands out in the market. Beyond its immediate income potential, the mix of commercial and residential elements positions it as a well-rounded investment with prospects for long-term appreciation. Don't miss the chance to explore this rare mixed-use gem in Boyle Heights. Contact us today to uncover the full potential of this dynamic property—perfect for those seeking a diverse investment portfolio or a distinctive house-hacking opportunity.
Developer? Tier 2 TOC bonus available.
Available separately or concurrently with neighboring property.
The month-to-month leases for both the salon and the residential unit provide flexibility for new owners, whether considering owner-occupation or optimizing rental terms. This property offers a unique house-hacking opportunity, allowing residents to live in the comfortable home while benefiting from the immediate income generated by the salon. Furthermore, with the potential for an SBA loan, financing options add an additional layer of appeal for savvy investors.
Priced attractively at $500 per square foot for the residential component, this property stands out in the market. Beyond its immediate income potential, the mix of commercial and residential elements positions it as a well-rounded investment with prospects for long-term appreciation. Don't miss the chance to explore this rare mixed-use gem in Boyle Heights. Contact us today to uncover the full potential of this dynamic property—perfect for those seeking a diverse investment portfolio or a distinctive house-hacking 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
Garage None
Pool None
Community Features Street Lights, Urban
Total Parking Spaces 2
Private Pool No
Building
Lot Description Near Public Transit, Street Level
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5190023009
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
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