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Mixed-Use

5251 Main St

5251 Main St, Los Angeles, CA 90037

Listing Price: $2,100,000

Cap Rate
4.36%
Number of Units
15
Occupancy
100.0%
Price/Unit
$140,000
Price/Gross SF
$149.22
Gross SF
14,073

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire 5251 S. Main St, a 100% occupied mixed-use property located in South Park neighborhood of Southeast Los Angeles. Built in 1911, the building sits on a 14,273 sqft lot zoned with 14,073 sqft of rentable space and consists of (13) Studios with separate kitchens, (2) 2Bed/1Bath cottage style standalone units, and (4) Retail spaces that span 4,700 sqft. With average rents for the multifamily units at $754/month, an astute investor will have the ability to capture roughly 90% in rental upside as tenants vacate or by successfully implementing a “Cash for Keys” program. There is also a billboard on-site which is currently not being leased and can potentially earn additional income in the future. All retail units are currently month-to-month, and all units are individually metered for gas and electricity. The property is gated and provides on-site surface parking spaces. Buyers are encouraged to verify accuracy of building records and data.
For future development purposes, the zoning at this site will allow an investor the opportunity to develop 17-units by right and up to 54-units with the TOC incentive. The site is also ED1 eligible and an investor could potentially build up a 70-unit 100% affordable housing project in the future. The site spans the block from W. 52nd Pl. to W. 53rd St with excellent frontage along Main Street.
Located east of Broadway and north of Slauson Ave, residents at this location benefit from multiple bus line stops that are withing a short distance along Main St. Other nearby locations include Main Street Elementary School, Alliance College-Ready Middle Academy, South Park Recreational Center, South Los Angeles Wetlands Park, and LA Academy Middle School. For commuters, there is ease of access onto the 110 Freeway at Slauson Ave, 51St St, and Vernon Ave allowing tenants access to the 10 and 105 Freeways.

Investment Highlights

  • $140,00/Unit & $149.22/SF
  • Over 90% Rental Upside
  • Future Redevelopment Opportunity
  • All Retail Tenants are Month-to-Month
  • On-Site Surface Parking
  • Potential Future Billboard Income
  • Individually Metered for Gas & Electricity

Exclusively Listed By

Financing By

Mixed-Use

5251 Main St

Listing Price: $2,100,000

Cap Rate
4.36%
Number of Units
15
Occupancy
100.0%
Price/Unit
$140,000
Price/Gross SF
$149.22
Gross SF
14,073

Investment Highlights

  • $140,00/Unit & $149.22/SF
  • Over 90% Rental Upside
  • Future Redevelopment Opportunity
  • All Retail Tenants are Month-to-Month
  • On-Site Surface Parking
  • Potential Future Billboard Income
  • Individually Metered for Gas & Electricity

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire 5251 S. Main St, a 100% occupied mixed-use property located in South Park neighborhood of Southeast Los Angeles. Built in 1911, the building sits on a 14,273 sqft lot zoned with 14,073 sqft of rentable space and consists of (13) Studios with separate kitchens, (2) 2Bed/1Bath cottage style standalone units, and (4) Retail spaces that span 4,700 sqft. With average rents for the multifamily units at $754/month, an astute investor will have the ability to capture roughly 90% in rental upside as tenants vacate or by successfully implementing a “Cash for Keys” program. There is also a billboard on-site which is currently not being leased and can potentially earn additional income in the future. All retail units are currently month-to-month, and all units are individually metered for gas and electricity. The property is gated and provides on-site surface parking spaces. Buyers are encouraged to verify accuracy of building records and data. For future development purposes, the zoning at this site will allow an investor the opportunity to develop 17-units by right and up to 54-units with the TOC incentive. The site is also ED1 eligible and an investor could potentially build up a 70-unit 100% affordable housing project in the future. The site spans the block from W. 52nd Pl. to W. 53rd St with excellent frontage along Main Street. Located east of Broadway and north of Slauson Ave, residents at this location benefit from multiple bus line stops that are withing a short distance along Main St. Other nearby locations include Main Street Elementary School, Alliance College-Ready Middle Academy, South Park Recreational Center, South Los Angeles Wetlands Park, and LA Academy Middle School. For commuters, there is ease of access onto the 110 Freeway at Slauson Ave, 51St St, and Vernon Ave allowing tenants access to the 10 and 105 Freeways.

Exclusively Listed By

Financing By

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