Medical Office Building with
2502 3rd Street Unit 101 Los Angeles, CA 90057
2502 3rd Street Unit 101, Los Angeles, CA, 90057
$1,890,000
For Sale
$1,890,000
Two-unit building is zoned C2 and includes 7 parking spaces, plus an approximately 1,500-sf basement.
Property Size3,537 SF
Price / SF$534.35
Days on Market906
Property Features for 2502 3rd Street Unit 101
General Information
- Standard status
- Active
- Size
- 3,537 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1947
Listing agency
Ivy Realty Co.
(213) 386-8888
Listed by
Ki Seon Im · License #01860439
Source
Xome
Added: Jan 27, 2024 Updated: Jul 21 at 11:49AM Checked: Jul 21 at 11:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ivy Realty Co.
Investment Insights
Based on property information with market context.
This commercial property is a two-unit building with a total building area of approximately 3,540 square feet. The space also includes an approximately 1,500-square-foot basement with 9-foot ceilings that is not included in the total square footage. The property is being delivered vacant.
The site is a corner lot with a traffic light and is zoned C2. It offers seven parking spaces and is located within a block of St. Vincent Medical Center, on 3rd Street near Alvarado Boulevard.
Overall, the configuration includes two units on the main building area and additional basement space, supporting a range of office-oriented uses consistent with the C2 zoning.
The site is a corner lot with a traffic light and is zoned C2. It offers seven parking spaces and is located within a block of St. Vincent Medical Center, on 3rd Street near Alvarado Boulevard.
Overall, the configuration includes two units on the main building area and additional basement space, supporting a range of office-oriented uses consistent with the C2 zoning.
Key Highlights
- Two‑unit commercial building with approx. 3,540 sqft total building area (year built 1947)
- Includes an approx. 1,500‑sf basement with 9‑ft ceilings (not included in total sqft per remarks)
- Lot approx. 6,496 sqft (50x130) corner lot with a traffic light
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $137.5k | $38.88 |
| − Vacancy | −$25.6k | −$7.23 |
| EGI | $111.9k | $31.65 |
| − OpEx | −$28.0k | −$7.91 |
| NOI | $84.0k | $23.74 |
3,537 SF · lease $38.88/SF/yr · vacancy 18.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,955 @ 7.0% cap · market cap 4.44%
Second Best
Healthcare Medical
$937.2K
$820.0K – $1.09M
NOI $65,601 @ 7.0% cap · market cap 3.47%
Theoretical Best
Multifamily LT 5
$71.66M
$62.70M – $83.60M
NOI $5,016,025 @ 7.0% cap · market cap 265.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Olympic Trophy & Gift
(Bike/Boat/Book/etc) Store
30 min Computer ...
Computer & Electronic Repair
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FAQs
What type of property is this?
Medical Office Space - Two-unit building is zoned C2 and includes 7 parking spaces, plus an approximately 1,500-sf basement.
Where is this medical office space located?
The property is located at 2502 3rd Street Unit 101 Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Two‑unit commercial building with approx. 3,540 sqft total building area (year built 1947); Includes an approx. 1,500‑sf basement with 9‑ft ceilings (not included in total sqft per remarks); Lot approx. 6,496 sqft (50x130) corner lot with a traffic light
