Amazing opportunity for an owner user, investor or developer to acquire a mixed use property in South Los Angeles with three retail units and a one bedroom residential unit upstairs, all on month-to-month terms with separate gas and electric meters. The property has a gated lot with secure on-site parking & roll up doors, and fifty feet of frontage on Western Avenue with over 30,000 vehicle daily traffic, presenting a perfect opportunity for an owner-user or investor. Rents are currently 50% below market, with market cap rate of 7% and market GRM of 11.66. Alternatively, the Tier 2 TOC designation also presents an opportunity for a developer to take advantage of density bonuses to repurpose the C2 lot as affordable housing. Less than 2 miles to SoFi Stadium and the Kia Forum, and 6 miles from LAX, this centrally located asset provides consumers and tenants with easy access to the remainder of Southern California via nearby 110, 105 and 10 freeways.
Disclaimer: Based on current information and belief. Information has not been verified by Broker. Buyer must independently verify all information.
Sale Type: Investor, Owner User, Developer
Asking Price: $875,000 (199)
Building Size: 4,390 sf
Lot Size: 5,662 sf
Zoning: C-2, TOC Tier 2
Year Built: 1948
Walk Score: 82
Bike Score: -
Three retail units and a one bedroom residential unit upstairs, all 50% below market and on month-to-month terms
50 foot frontage on Western Avenue with over 30,000 vehicle daily traffic
Gated lot with secure on-site parking & roll up doors
8905 South Western Avenue, Los Angeles, California 90047, United States