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Shopping Neighborhood

228-248 N Avenue 50 & 4966-4968 Monte Vista St

248 N Avenue 50, Los Angeles, CA 90042

Listing Price: $3,965,000

Cap Rate
5.84%
Gross SF
6,573
Rentable SF
6,573
Price/Gross SF
$603.23
Lot Size
0.28 acres
Year Built
1927

Investment Overview

Marcus & Millichap proudly presents 288 N Avenue 50 and 4966 Monte Vista, a remarkable multi-tenant commercial property nestled in the lively heart of Highland Park. With approximately 6,573 square feet of building space and a private contiguous parking lot offering 14 spaces, this property is a rare find in the area. The property is currently 100% with future upside potential as the Laundry tenant Key features of the property encompass a robust Solar Stem installation, featuring a 22kW/DC PV System with 55 Q Cell Mono Solar panels, SolarEdge inverter with AC, and Orion racking and mounting system. Additionally, the property boasts updated meters with 400 amp capacity, including 2 X 200 amp and 2 X 100 amp, alongside upgraded overhead service Fade to existing Sub panels and new subpanels. Capital Improvements are extensive and include a two-year-old roof with a 20-year warranty, all-new electrical and plumbing systems, installation of tankless water heaters, exterior rejuvenation with smoothed stucco, comprehensive LED lighting upgrade, renewed or replaced storefront windows and doors, installation of new HVAC systems throughout, and a parking lot parcel regraded with subterrain drainage pipes and a new asphalt layer (4 inches). Ownership has invested over $2,000,000 with this complete frame-up restoration and tenant enhancements within the past 24 months.

Strategically located just blocks away from the 110 Freeway, this property offers seamless access to Downtown Los Angeles, Pasadena, and Glendale. Commuters can also rely on the Metro Gold Line for a swift 30-minute journey to Downtown LA. Notably, the city recently unveiled a major stop at the intersection of Marmion Way and North Avenue 57, just a stone’s throw away from the property.

With a commendable walk score of 85 (Very Walkable) and a thriving community of approximately 790,875 residents boasting an average household income exceeding $107,177 within a 5-mile radius, Highland Park continues to experience rapid appreciation.

Investment Highlights

  • Rare Storefront Retail Building at a Busy Signalized Intersection
  • Private Parking Lot with 13 Individual Spaces
  • Two, Small Billboards on Property with Future Upside
  • Over $2,000,000 in Capital Improvements Made by Ownership in 2023

Exclusively Listed By

Financing By

Shopping Neighborhood

228-248 N Avenue 50 & 4966-4968 Monte Vista St

Listing Price: $3,965,000

Cap Rate
5.84%
Gross SF
6,573
Rentable SF
6,573
Price/Gross SF
$603.23
Lot Size
0.28 acres
Year Built
1927

Investment Highlights

  • Rare Storefront Retail Building at a Busy Signalized Intersection
  • Private Parking Lot with 13 Individual Spaces
  • Two, Small Billboards on Property with Future Upside
  • Over $2,000,000 in Capital Improvements Made by Ownership in 2023

Investment Overview

Marcus & Millichap proudly presents 288 N Avenue 50 and 4966 Monte Vista, a remarkable multi-tenant commercial property nestled in the lively heart of Highland Park. With approximately 6,573 square feet of building space and a private contiguous parking lot offering 14 spaces, this property is a rare find in the area. The property is currently 100% with future upside potential as the Laundry tenant Key features of the property encompass a robust Solar Stem installation, featuring a 22kW/DC PV System with 55 Q Cell Mono Solar panels, SolarEdge inverter with AC, and Orion racking and mounting system. Additionally, the property boasts updated meters with 400 amp capacity, including 2 X 200 amp and 2 X 100 amp, alongside upgraded overhead service Fade to existing Sub panels and new subpanels. Capital Improvements are extensive and include a two-year-old roof with a 20-year warranty, all-new electrical and plumbing systems, installation of tankless water heaters, exterior rejuvenation with smoothed stucco, comprehensive LED lighting upgrade, renewed or replaced storefront windows and doors, installation of new HVAC systems throughout, and a parking lot parcel regraded with subterrain drainage pipes and a new asphalt layer (4 inches). Ownership has invested over $2,000,000 with this complete frame-up restoration and tenant enhancements within the past 24 months. Strategically located just blocks away from the 110 Freeway, this property offers seamless access to Downtown Los Angeles, Pasadena, and Glendale. Commuters can also rely on the Metro Gold Line for a swift 30-minute journey to Downtown LA. Notably, the city recently unveiled a major stop at the intersection of Marmion Way and North Avenue 57, just a stone’s throw away from the property. With a commendable walk score of 85 (Very Walkable) and a thriving community of approximately 790,875 residents boasting an average household income exceeding $107,177 within a 5-mile radius, Highland Park continues to experience rapid appreciation.

Exclusively Listed By

Financing By

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