Multi-Family
5101-5125 W Pico Blvd
5101 W Pico Blvd, Los Angeles, CA 90019
Listing Price: Request For Offer
Investment Overview
• 5101-5125 W Pico Blvd is a 31,960 square foot development opportunity situated between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire Location; the property spans the entire block between S Redondo Blvd and Meadowbrook Ave.
• There are approved plans to build a 7-story, 107,754 SF building made up of 136 units and 12 ADU’s; a Buyer can move forward with the plans, re-entitled for another project including affordable housing via ED-1, or reposition the existing retail and collect income with long-term development potential.
• The site has alley access from S Redondo Blvd and Meadowbrook Ave, providing extra buildable square footage and options for parking ingress and egress.
• The current building consists of 10 retail units on month-to-month gross leases with a total income of $381,753 annually.
• Mid-Wilshire is a prime Central LA location known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district.
• Although the preliminary plans are for a market-rate project, there is also potential for a 100% affordable housing project through ED-1; ownership has a feasibility study for 206 affordable housing units. (contact agent for additional details)
• The subject property boasts a high walk score of 92, a “walker’s paradise” in a central LA location with convenient access to local restaurants, shopping, employment, transportation, and nightlife.
The neighboring block on South La Brea Ave hosts a brand-new Target and Sprouts development, one mile east is the Midtown Crossing Shopping Center, and one mile north is the iconic Miracle Mile shopping district, providing residents with a convenient destination shopping experience.
5101-5125 W Pico Blvd
Investment Highlights
- 5101-5125 W Pico Blvd is a 31,960 square foot development opportunity situated between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire Location
- Rare opportunity to acquire an institutional-sized urban infill project of this scale, efficiently designed and spanning an entire city block
- The current building consists of 10 retail units on month-to-month gross leases with a total income of $381,753 annually, allowing the developer the ability to collect income while obtaining permits.
- There are approved plans to build a 7-story, 107,754 SF building made up of 136 units and 12 ADU's; the plans call for 51 studios (393-590 SF), 75 one-bedrooms (394-628 SF), five two-bedrooms (835-1,097 SF), five three-bedrooms (1,057-1,099 SF) and 12 livework units (544-1,449 SF) with two and a half levels of parking
- Although the preliminary plans are for a market-rate project, there is also potential for a 100% affordable housing project through ED-1; ownership has a feasibility study for 206 affordable housing units. (contact agent for additional details)
Exclusively Listed By
Financing By
Listing Price: Request For Offer
Investment Highlights
- 5101-5125 W Pico Blvd is a 31,960 square foot development opportunity situated between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire Location
- Rare opportunity to acquire an institutional-sized urban infill project of this scale, efficiently designed and spanning an entire city block
- The current building consists of 10 retail units on month-to-month gross leases with a total income of $381,753 annually, allowing the developer the ability to collect income while obtaining permits.
- There are approved plans to build a 7-story, 107,754 SF building made up of 136 units and 12 ADU's; the plans call for 51 studios (393-590 SF), 75 one-bedrooms (394-628 SF), five two-bedrooms (835-1,097 SF), five three-bedrooms (1,057-1,099 SF) and 12 livework units (544-1,449 SF) with two and a half levels of parking
- Although the preliminary plans are for a market-rate project, there is also potential for a 100% affordable housing project through ED-1; ownership has a feasibility study for 206 affordable housing units. (contact agent for additional details)
Investment Overview
• 5101-5125 W Pico Blvd is a 31,960 square foot development opportunity situated between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire Location; the property spans the entire block between S Redondo Blvd and Meadowbrook Ave. • There are approved plans to build a 7-story, 107,754 SF building made up of 136 units and 12 ADU’s; a Buyer can move forward with the plans, re-entitled for another project including affordable housing via ED-1, or reposition the existing retail and collect income with long-term development potential. • The site has alley access from S Redondo Blvd and Meadowbrook Ave, providing extra buildable square footage and options for parking ingress and egress. • The current building consists of 10 retail units on month-to-month gross leases with a total income of $381,753 annually. • Mid-Wilshire is a prime Central LA location known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district. • Although the preliminary plans are for a market-rate project, there is also potential for a 100% affordable housing project through ED-1; ownership has a feasibility study for 206 affordable housing units. (contact agent for additional details) • The subject property boasts a high walk score of 92, a “walker’s paradise” in a central LA location with convenient access to local restaurants, shopping, employment, transportation, and nightlife. The neighboring block on South La Brea Ave hosts a brand-new Target and Sprouts development, one mile east is the Midtown Crossing Shopping Center, and one mile north is the iconic Miracle Mile shopping district, providing residents with a convenient destination shopping experience.
Exclusively Listed By
Financing By
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