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Office

3019-3023 Washington Blvd

3019 Washington Blvd, Marina del Rey, CA 90292

Listing Price: $3,500,000

Cap Rate
0.34%
Gross SF
2,853
Rentable SF
2,853
Price/Gross SF
$1,226.78
Lot Size
0.14 acres
Year Built
1946

Investment Overview

Marcus and Millichap is pleased to present 3019 & 3023 Washington Blvd in Marina Del Rey, CA. This two building Retail/Office portfolio is located in one of the most desirable coastal submarkets on the westside of Los Angeles. The opportunity is perfectly positioned for an owner user with 53% of the rentable building area being delivered vacant at the close of escrow. A new buyer can utilize SBA financing, with up to 90% LTV available, and take immediate occupancy of 3019 Washington. 3023 Washington is 100% leased through 11/1/2025 providing an income stream into the future to help offset the loan payment.

3019 Washington is approximately 1,400 SF, was built in 1946 and renovated in 2005. 3023 Washington is approximately 1,233 SF and was built in 2009. There are 6 parking spaces, accessed by the rear alley. The buildings are positioned on two separate C2-1 zoned parcels, which combined, total approximately 0.14-acres (parcels have been tied together), on the corner of Washington Blvd and Yale Ave. This hard corner location provides great visibility with approximately 150’ of combined frontage on Washington Blvd and Yale Ave and is only 3 blocks from the intersection of Washington Blvd & Lincoln Blvd which sees over 92,000 vehicles per day.

Located in Los Angeles, the Marina Del Rey/Venice Submarket is one of the most popular tourist destinations in Southern California. Filled with an eclectic mix of high-end restaurants, shops, housing options, and parks, Marina Del Rey attracts locals and visitors alike. The property is also conveniently located just 2 blocks away from Abbot Kinney Blvd, the main shopping district in the area. The submarket enjoys dense affluent demographics largely due to the presence of nearby tech firms. Marina Del Rey is also a major boating and water recreation destination. The port is North America’s largest man-made small-craft harbor and is home to approximately 5,000 boats.

Investment Highlights

  • Rare Marina Del Rey Medical Owner/User Opportunity with Income
  • Located on Washington Blvd – One of the Main Thoroughfares in Marina Del Rey
  • Vehicles High Traffic Counts - Over 92,000+ Per Day at Washington and Lincoln
  • 150 Feet of Frontage on Yale Ave and Washington Blvd
  • Six (6) Off-Street Parking Spaces Accessed by Rear Alley
  • Tremendous Walk Score | Walker's Paradise – 93

Exclusively Listed By

Financing By

Office

3019-3023 Washington Blvd

Listing Price: $3,500,000

Cap Rate
0.34%
Gross SF
2,853
Rentable SF
2,853
Price/Gross SF
$1,226.78
Lot Size
0.14 acres
Year Built
1946

Investment Highlights

  • Rare Marina Del Rey Medical Owner/User Opportunity with Income
  • Located on Washington Blvd – One of the Main Thoroughfares in Marina Del Rey
  • Vehicles High Traffic Counts - Over 92,000+ Per Day at Washington and Lincoln
  • 150 Feet of Frontage on Yale Ave and Washington Blvd
  • Six (6) Off-Street Parking Spaces Accessed by Rear Alley
  • Tremendous Walk Score | Walker's Paradise – 93

Investment Overview

Marcus and Millichap is pleased to present 3019 & 3023 Washington Blvd in Marina Del Rey, CA. This two building Retail/Office portfolio is located in one of the most desirable coastal submarkets on the westside of Los Angeles. The opportunity is perfectly positioned for an owner user with 53% of the rentable building area being delivered vacant at the close of escrow. A new buyer can utilize SBA financing, with up to 90% LTV available, and take immediate occupancy of 3019 Washington. 3023 Washington is 100% leased through 11/1/2025 providing an income stream into the future to help offset the loan payment. 3019 Washington is approximately 1,400 SF, was built in 1946 and renovated in 2005. 3023 Washington is approximately 1,233 SF and was built in 2009. There are 6 parking spaces, accessed by the rear alley. The buildings are positioned on two separate C2-1 zoned parcels, which combined, total approximately 0.14-acres (parcels have been tied together), on the corner of Washington Blvd and Yale Ave. This hard corner location provides great visibility with approximately 150’ of combined frontage on Washington Blvd and Yale Ave and is only 3 blocks from the intersection of Washington Blvd & Lincoln Blvd which sees over 92,000 vehicles per day. Located in Los Angeles, the Marina Del Rey/Venice Submarket is one of the most popular tourist destinations in Southern California. Filled with an eclectic mix of high-end restaurants, shops, housing options, and parks, Marina Del Rey attracts locals and visitors alike. The property is also conveniently located just 2 blocks away from Abbot Kinney Blvd, the main shopping district in the area. The submarket enjoys dense affluent demographics largely due to the presence of nearby tech firms. Marina Del Rey is also a major boating and water recreation destination. The port is North America’s largest man-made small-craft harbor and is home to approximately 5,000 boats.

Exclusively Listed By

Financing By

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