Investment Overview

Marcus & Millichap has been selected to exclusively represent for sale the property at 6016 S Central Avenue. This is a 5,227 square foot lot with a 3,920 square foot commercial building operating as an auto body repair shop. The owner is selling both the property and the business. This retail building is located on Central Avenue in the South-Central region of Los Angeles. Central Avenue is a major North–South arterial road that runs through the heart of Los Angeles’ industrial, manufacturing, and warehouse zones. Central Ave is a busy four lane road with an average daily traffic count of over 23,000. This property is currently operating as an Owner-User Auto Body Repair business with 6 adjacent surface parking spaces. Access to the property is available from Central Avenue and from the alley in the back. The site is protected by a steel bar fence and wheeled steel gates on both the front and back. The property is partitioned into 3 buildings: office, auto body repair shop, and paint spray booth. The newly poured concrete floors include an area with built-in chain anchors for auto frame stretching. The shop features 11-foot-high ceilings approximately with hanging fluorescent fixtures for lighting and open wall-less perimeters on both east and west sides for free-flowing air ventilation. The paint spray booth is newly installed and meets operating regulations according to the owner. There is a one-half bathroom in the facility’s office. This Auto Body Repair business has operated since 2006 and has gained an excellent reputation in Yelp and Google reviews. The building was built in 2005 and has just been renovated. Both property and business are included in the sale price. This property also offers Developers a repurpose opportunity for a multi-family project because its location in one of Los Angeles’ densest rental markets and significant government redevelopment incentives. The property sits in one of the densest populated areas in Los Angeles County with 17,314 people per square mile. Of households in the neighborhood, 38% own their homes and 62% rent. The LA Metro Transportation Oriented Communities (TOC) program gives developers Density Bonuses for new multi-family projects in this area. This property’s Tier 1 TOC incentives provide density bonuses beyond “by right” zoning standards. For example, TOC bonuses increase FAR to 2.75:1 allowing a development of 14,364 square feet. The property benefits from federal Opportunity Zone, California State Enterprise Zone, and federal SBA HUBZone investment and operational incentives.