3306 East 8th Street

Los Angeles, CA 90023

$675,000
Price
2
Beds
2
Baths
2,073 Sq. Ft.
$326 / Sq. Ft.
2,073
Sq. Ft.
$326
per Sq. Ft.

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...$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.
  1. Listed by Stelios Zoumberakis • DRE #02049494 • Brokerage DRE #01443822 • Keller Williams Coastal Prop. • stelios@szcre.com

Property Details for 3306 East 8th Street

Parking Spaces Total
2
Private Pool
No
Total Units
2.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
2073
Assessor Parcel Number
5190-023-009
Property Attached YN
false
LISTING UPDATED: 09/23/2024 01:36 AM

Property Details for 3306 East 8th Street

StatusActive
MLS #PW23227505
Days on Market339
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1922
Lot Size0.12 AC / 5,139 SF
CountyLos Angeles County

Building Information for 3306 East 8th Street

Stories1Residences-Year Built1922Building Size-Lot Size0.12 AC / 5,139 SF

Property Information for 3306 East 8th Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $49,200
  • Gross Scheduled Income: $49,200
  • Net Operating Income: $30,747
  • Cap Rate: 5.04
Expense Details
  • Operating Expense: $17,455
  • New Taxes Expense: $11,688
  • Insurance Expense: $1,347
  • Trash Expense: $0
  • Total Expenses: $17,445
Tax / Assessment Info
  • Tax Tract Number: 4447
  • Tax Census Tract: 2051.20
  • Tax Lot: 9
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Street Lights, Urban
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Level with Street, Near Public Transit
  • Number Of Units: 2
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: None
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: None
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,800
  • Unit Type Total Rent: $2,800
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $1,300
  • Unit Type Pro Forma: 1455
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2

Property History for 3306 East 8th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3306 East 8th Street

Taxable ValueLand$341,313Additions$120,178Total$461,491
Tax Record2024$5,949 ($496 / month)
Home Facts
Total Finished SqFt2,073 SqFtAbove Grade Finished SqFt2,073 SqFtStories1Lot Size5,139 SqFtStyleOffice BuildingYear Built1922ZoningLARD1.5CountyLOS ANGELESAPN5190-023-009

Schools near 3306 East 8th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Christopher Dena Elementary School
PublicK to 6

Robert Louis Stevenson Middle School
Public6 to 8

Felicitas And Gonzalo Mendez High
Public9 to 12

Theodore Roosevelt Senior High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3306 East 8th Street is a mixed use property for sale in Los Angeles, CA 90023. This property was listed for sale on December 15, 2023 by Keller Williams Coastal Prop., it's currently listed at $675,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Christopher Dena Elementary School, Robert Louis Stevenson Middle School and Felicitas And Gonzalo Mendez High. 3306 East 8th Street is a 2-bed, 2-bath, 2,073 sqft mixed use property built in 1922.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Coastal Prop., Stelios Zoumberakis, DRE #02049494

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.