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Urban-High Street

1303 S Vermont Ave

1303 S Vermont Ave, Los Angeles, CA 90006

Listing Price: $5,450,000

Cap Rate
5.85%
Gross SF
17,624
Rentable SF
17,624
Price/Gross SF
$309.24
Lot Size
0.28 acres
Year Built
1922

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 1303 S. Vermont Avenue, a 17,624 square foot value-added mixed-use retail and residential property situated on 12,107 square feet of land.

1303 S. Vermont Ave is ideally located at a major signalized intersection at the southwest corner of Pico Blvd. and Vermont Ave. in Los Angeles, CA. Both streets are major arterial streets with strong average daily traffic counts of over 60,000 VPD. The Property is within walking distance to several residential areas consisting of both single family and multifamily residential units as well as national retailers such as bank of America, Auto Zone, Sally’s Beauty Supply and McDonalds.

1303 S. Vermont Ave is currently improved with 17,624 square feet consisting of approximately 8,434 square feet of ground floor multi-tenant retail and 15 second floor residential units made up of both studios and 1-bedroom units. The average monthly rent for the multifamily units is 47% below the current market level. The Property has always maintained very high occupancy levels creating stability of the income. 32% of the retail tenants have leases that expire in 2026 while 68% of the tenants operate under month-to-month leases despite having occupied the property for over 17 years. All the retail units are Gross Leases.

Nestled in a bustling urban district, this mixed-use property offers a unique fusion of residential and retail spaces, with a value-added component that promises both versatility and potential for growth. The 15 residential units above provide a convenient and urban living experience, with catering to urban lifestyles. Below, the retail spaces boast prime visibility and foot traffic, creating an ideal environment for businesses to thrive. What sets this property apart is its value-added component, presenting an opportunity for an astute investor through raising rents and converting the gross leases to NNN the ability to further enhance returns. This property offers astute investors the chance to unlock additional value and capitalize on the vibrant energy of the surrounding area. With its strategic location and potential for growth, this mixed-use gem stands as a promising investment opportunity in the heart of the city.

1303 S. Vermont Ave is currently improved with 17,624 square feet consisting of approximately 8,434 square feet of ground floor multi-tenant retail and 15 second floor residential units made up of both studios and 1-bedroom units. The average monthly rent for the multifamily units is 47% below the current market level. The Property has always maintained very high occupancy levels creating stability of the income. 32% of the retail tenants have leases that expire in 2026 while 68% of the tenants operate under month-to-month leases despite having occupied the property for over 17 years. All the retail units are Gross Leases providing an astute investor the ability to increase income through the conversion to NNN Leases in the near term.

The area boasts demographics with a population in excess of 100,000 people within a 1-mile and over 650,000 people within 3-miles. The demographics of the corner of Vermont and Pico in Los Angeles reflect the city’s rich diversity and vibrant culture. This bustling intersection serves as a melting pot of communities, drawing residents from various ethnicities, backgrounds, and socio-economic statuses. With its proximity to both residential neighborhoods and commercial hubs, the area attracts a diverse range of people throughout the day. Young professionals seeking urban living, families embracing the convenience of city life, and tourists exploring the local attractions all contribute to the vibrant tapestry of this dynamic neighborhood. The blend of cultures is evident in the array of businesses, restaurants, and community centers that line the streets, offering something for everyone regardless of age, ethnicity, or lifestyle. At the corner of Vermont and Pico, diversity is not just celebrated but woven into the fabric of daily life, making it a true reflection of the multicultural spirit of Los Angeles.

Investment Highlights

  • Mixed-Use Value-Added Property
  • 5.85% Cap Rate on Current Income
  • 8.2% Cap Rate Pro Forma
  • Signalized Intersection of Vermont Ave and Pico Blvd with traffic counts in excess of 60,000 VPD
  • Very Dense Population with over 650,000 people within 3-miles
  • 68% of Retail Tenants have occupied the property for over 17 years

Exclusively Listed By

Financing By

Urban-High Street

1303 S Vermont Ave

Listing Price: $5,450,000

Cap Rate
5.85%
Gross SF
17,624
Rentable SF
17,624
Price/Gross SF
$309.24
Lot Size
0.28 acres
Year Built
1922

Investment Highlights

  • Mixed-Use Value-Added Property
  • 5.85% Cap Rate on Current Income
  • 8.2% Cap Rate Pro Forma
  • Signalized Intersection of Vermont Ave and Pico Blvd with traffic counts in excess of 60,000 VPD
  • Very Dense Population with over 650,000 people within 3-miles
  • 68% of Retail Tenants have occupied the property for over 17 years

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 1303 S. Vermont Avenue, a 17,624 square foot value-added mixed-use retail and residential property situated on 12,107 square feet of land. 1303 S. Vermont Ave is ideally located at a major signalized intersection at the southwest corner of Pico Blvd. and Vermont Ave. in Los Angeles, CA. Both streets are major arterial streets with strong average daily traffic counts of over 60,000 VPD. The Property is within walking distance to several residential areas consisting of both single family and multifamily residential units as well as national retailers such as bank of America, Auto Zone, Sally’s Beauty Supply and McDonalds. 1303 S. Vermont Ave is currently improved with 17,624 square feet consisting of approximately 8,434 square feet of ground floor multi-tenant retail and 15 second floor residential units made up of both studios and 1-bedroom units. The average monthly rent for the multifamily units is 47% below the current market level. The Property has always maintained very high occupancy levels creating stability of the income. 32% of the retail tenants have leases that expire in 2026 while 68% of the tenants operate under month-to-month leases despite having occupied the property for over 17 years. All the retail units are Gross Leases. Nestled in a bustling urban district, this mixed-use property offers a unique fusion of residential and retail spaces, with a value-added component that promises both versatility and potential for growth. The 15 residential units above provide a convenient and urban living experience, with catering to urban lifestyles. Below, the retail spaces boast prime visibility and foot traffic, creating an ideal environment for businesses to thrive. What sets this property apart is its value-added component, presenting an opportunity for an astute investor through raising rents and converting the gross leases to NNN the ability to further enhance returns. This property offers astute investors the chance to unlock additional value and capitalize on the vibrant energy of the surrounding area. With its strategic location and potential for growth, this mixed-use gem stands as a promising investment opportunity in the heart of the city. 1303 S. Vermont Ave is currently improved with 17,624 square feet consisting of approximately 8,434 square feet of ground floor multi-tenant retail and 15 second floor residential units made up of both studios and 1-bedroom units. The average monthly rent for the multifamily units is 47% below the current market level. The Property has always maintained very high occupancy levels creating stability of the income. 32% of the retail tenants have leases that expire in 2026 while 68% of the tenants operate under month-to-month leases despite having occupied the property for over 17 years. All the retail units are Gross Leases providing an astute investor the ability to increase income through the conversion to NNN Leases in the near term. The area boasts demographics with a population in excess of 100,000 people within a 1-mile and over 650,000 people within 3-miles. The demographics of the corner of Vermont and Pico in Los Angeles reflect the city’s rich diversity and vibrant culture. This bustling intersection serves as a melting pot of communities, drawing residents from various ethnicities, backgrounds, and socio-economic statuses. With its proximity to both residential neighborhoods and commercial hubs, the area attracts a diverse range of people throughout the day. Young professionals seeking urban living, families embracing the convenience of city life, and tourists exploring the local attractions all contribute to the vibrant tapestry of this dynamic neighborhood. The blend of cultures is evident in the array of businesses, restaurants, and community centers that line the streets, offering something for everyone regardless of age, ethnicity, or lifestyle. At the corner of Vermont and Pico, diversity is not just celebrated but woven into the fabric of daily life, making it a true reflection of the multicultural spirit of Los Angeles.

Exclusively Listed By

Financing By

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