1158 E 88th PL

LOS ANGELES, CA, 90002

$1,120,000

$387 per ft²
$1,120,000
$387 per ft²
Active
Active
 - For Sale
beds
3 Beds
baths
3 Baths
carpenters-square
2,891 ft²
property_type
Multi-family
calendar
Built 1931
We are pleased to present a desirable mix use property which settles on a big 5,124 SF lot and includes a freestanding store plus an ample 3-bedroom and 1-bath house. The house is rented and producing $2,300 of additional income a month. Additionally, the corner presents a Business Opportunity consisting of a well-established and highly profitable store with a B&W license, EBT, ATM, CA-Lottery, and a meat market. Established in 1999 and located in a very visible hard-corner, this store has been a successful family-owned business for over 20 years with declared sales of more than $140,000 a month as of the end of 2019. This strategically located neighborhood business exclusively serves a radius of over 0.5 miles selling daily needs from meat and groceries to cleaning supplies and wine. Two years ago, the property and the business were sold to a multifamily real estate investor, who dabbled in the market/store industry for the first time and who employed a friend of his as the manager to operate this store. Now, this business is being offered to an involved owner-operator or to an experienced investor to revitalize it and to bring it back to its peak performance and beyond. Making $91,000 in gross sales plus $15,000 in lottery sales last month, this is a store that with proper management has the potential to become enormously profitable for its new owner. The store consists of approximately 1,500 square feet containing all the proper grocery store equipment including a meat counter with display, a six-doors walk-in refrigeration unit, open-air cooler and open-air freezer, retail shelving, additional storage shelving, additional refrigeration shelving, commercial meat slicer, commercial scale, commercial sink, and more. The store will be delivered fully equipped and fully stocked with merchandise for a smooth transition. This Business Opportunity can be bought on its own. The seller of this business, who is also the owner of the real estate, is willing to negotiate favorable long-term lease conditions with the new business owner/operator.
MLS® ID:
PW22116722MR
Listed:
5/28/22
Updated:
7/3/22
Douglas Elliman Real Estate
Cory Weiss

Interior Features

Total Bedrooms
3
Total Bathrooms
3
Laundry Description
Gas Or Electric Dryer Hookup

Exterior/Building Features

Lot Size
5,124 ft² lot
Sewer
Public Sewer

Other Property Details

Garage
Yes
Garage Spaces
1
Parking
Y
Parking Total
1.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
LCR2YY

 

Courtesy of Alex Colombo, Lyon Stahl Investment Real Est

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Cory Weiss shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 7/3/22

Douglas Elliman Real Estate
Cory Weiss
Contact