Detailed Introduction Of This Home
We are pleased pleased to present 2526 Daly Street, a 3-unit retail property in the heart of Lincoln Heights. Constructed in 1920, this 1,716 square foot commercial building is positioned on a 7,644 square foot lot with C4 zoning. The property hosts a diverse mix of tenants: Martha's Kitchen occupying 744 SF, Le Nails spanning 905 SF, and Paseos Angeles Travel Agency in 355 SF of space (note: square footages are approximate and should be verified by the Buyer). The property is being efficiently managed with all utilities being paid by the tenants, keeping the landlord expenses very minimal. The property features 14 on-site parking spaces located at the rear with recently resurfaced asphalt and the building was re-roofed in 2019. Currently, all tenants are on a month-to-month lease and have kept up with their rent payments. The property holds future development opportunities which include the possibility of converting it into a 5-unit apartment complex by-right, or even up to an 11-unit apartment complex utilizing the TOC bonus, subject to buyer's verification. The property is also ED-1 eligible and could potentially support the development of a 100% affordable multifamily project that could support more than 11-units (Buyer to verify). Situated between East Avenue 26 and Broadway on Daly Street, this property boasts an impressive walk score of 91. Its location is ideal, being just a short distance away from a range of local shops, restaurants, parks, and schools. Additionally, its close vicinity to both the 5 and 110 freeways provides convenient and easy access for commuters traveling across Los Angeles.