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$1,700,000
Est. payment /mo
9,291 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26091212
HOA Y/N No
Year Built 1925
Lot Size 9,291 Sqft
Property Sub-Type Retail
Property Description
Investor Opportunity – Prime Development & Value-Add Asset
Exceptional investment opportunity to reposition and maximize the land value of a 9,292 sq. ft. lot featuring a standalone retail building with frontage on Venice Boulevard. This high-visibility corner property benefits from strong street exposure and convenient access, located in a high-traffic area with excellent long-term growth potential.
The property is zoned LAC1 and was originally configured as eight (8) retail units with eight (8) bathrooms. It is currently operated as five (5) units, offering a value-add opportunity to reconfigure back to the original eight-unit layout. All five units are fully occupied with a mix of lease terms. The property includes addresses 2030, 2032, 2034, 2038, and 2042.
The current gross annual income is $ 78,600.00. Operating expenses are minimal, with annual expenses approximately $ 11,908.00. Each unit is separately metered for electricity, with tenants responsible for their own power usage.
Exceptional investment opportunity to reposition and maximize the land value of a 9,292 sq. ft. lot featuring a standalone retail building with frontage on Venice Boulevard. This high-visibility corner property benefits from strong street exposure and convenient access, located in a high-traffic area with excellent long-term growth potential.
The property is zoned LAC1 and was originally configured as eight (8) retail units with eight (8) bathrooms. It is currently operated as five (5) units, offering a value-add opportunity to reconfigure back to the original eight-unit layout. All five units are fully occupied with a mix of lease terms. The property includes addresses 2030, 2032, 2034, 2038, and 2042.
The current gross annual income is $ 78,600.00. Operating expenses are minimal, with annual expenses approximately $ 11,908.00. Each unit is separately metered for electricity, with tenants responsible for their own power usage.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Interior
Fireplace No
Laundry None
Building
Lot Description 2-5 Units/Acre, Corner Lot, Level
Story 1
Water Public
Others
Tax ID 5075026001
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
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Listed by Surin Poommai Rise Realty 818-445-4220, DRE #01354205
Nearby Locations
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