L-Shaped Strip Center | 3601-3607 W Pico Blvd
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L-Shaped Strip Center 3601-3607 W Pico Blvd
5,850 SF 100% Leased Retail Building Los Angeles, CA 90019 £3,177,191 (£543/SF) 5.41% Net Initial Yield
INVESTMENT HIGHLIGHTS
- C4-1 zoning, potential development
- Opportunity to occupy the premises to obtain SBA/Conventional financing (up to 90% LTV)
- Nearby attractions include The Grove, Koreatown, LACMA and the La Brea Tar Pits
- The site is fully occupied with seasoned tenants with potential for rental upside,
- Situated on the corner of Pico Boulevard and 3rd Avenue, the property offers ample parking and high visibility
- Occupancy: 100% - W/Resturants Tenants and Diversified Tenant Mix
EXECUTIVE SUMMARY
Kidder Mathews is pleased to present the sale of a 5,838 square foot, L-Shaped shopping center located at 3603 W Pico Boulevard, Los Angeles, CA 90019.
The subject property consists of 4 retail tenants and an income- generating billboard. The site is fully occupied providing stable rental income with potential for lease renewals or the opportunity to enhance the property value through repositioning tenancy. Situated at the corner of Pico Boulevard and 3rd Avenue, this L-shaped strip center offers ample parking and high visibility.
The property is less than a mile from I-10, providing immediate access to the Greater Los Angeles area. The surrounding area provides a large customer base and steady flow of customers for its retail tenants and nearby attractions including The Grove, Koreatown, LACMA and the La Brea Tar Pits.
The subject property consists of 4 retail tenants and an income- generating billboard. The site is fully occupied providing stable rental income with potential for lease renewals or the opportunity to enhance the property value through repositioning tenancy. Situated at the corner of Pico Boulevard and 3rd Avenue, this L-shaped strip center offers ample parking and high visibility.
The property is less than a mile from I-10, providing immediate access to the Greater Los Angeles area. The surrounding area provides a large customer base and steady flow of customers for its retail tenants and nearby attractions including The Grove, Koreatown, LACMA and the La Brea Tar Pits.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,850 SF
Building Class
B
Year Built
1994
Price
£3,177,191
Price Per SF
£543
Net Initial Yield
5.41%
NOI
£172,022
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.37
Lot Size
0.36 AC
Zoning
LAC4-1
Parking
24 Spaces (4.39 Spaces per 1,000 SF Leased)
Frontage
157 ft on Pico Boulevard
AMENITIES
- Bus Route
- Corner Lot
- Pylon Sign
- Signage
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5081-014-012 | Improvements Assessment | £354,864 |
| Land Assessment | £1,217,452 | Total Assessment | £1,572,316 |
PROPERTY TAXES
Parcel Number
5081-014-012
Land Assessment
£1,217,452
Improvements Assessment
£354,864
Total Assessment
£1,572,316
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L-Shaped Strip Center | 3601-3607 W Pico Blvd
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