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5506-5514 Monte Vista

5506-5514 Monte Vista St, Los Angeles, CA 90042

Listing Price: $1,400,000

Cap Rate
1.34%
Gross SF
4,271
Rentable SF
4,271
Price/Gross SF
$327.79
Lot Size
0.17 acres
Year Built
1922

Investment Overview

Marcus & Millichap is pleased to present 5506-5514 Monte Vista St, a unique storefront retail property with a distinctive brick faade located in the heart of Highland Park. The subject property consists of an approximate 4,271 square foot space situated on a 0.17-acre C4 zoned parcel. The average unit size for this location is well under 1,000 square-feet, allowing for significantly higher rent/SF for each store. With a private parking lot and an abundance of street parking, this site will draw a great deal of interest from new & trendy businesses. Besides the few main commercial corridors, 5506-5514 Monte Vista St benefits largely from a dense residential neighborhood that is experiencing significant positive change. Along N Figueroa St there are a considerable amount of mom & pop shops, local award winning restaurants and local small businesses that have grown substantially over the last 5 years. Between Highland Parks two main streets (York Blvd & Figueroa), you will frequently find neighborhood coffee shops, thrift stores and new nightlife establishments beaming with life.

The building is conveniently located just a few blocks from the 110 Freeway, which easily connects to Downtown Los Angeles, Pasadena and Glendale. The Metro Gold Line can also get commuters to Downtown LA in just 30 minutes. A few years ago, the city opened up a major stop at the intersection of Marmion Way and North Avenue 57, located just a few blocks from the subject property. Additionally, the building boasts a walk score of 93 (Walkers Paradise), allowing for ease of use to get from one place to another. This coupled with the fact that there are approximately 750,000 people and an average household income of $98,909 within a 5-mile radius, will only help accelerate the continued rapid appreciation of Highland Park.

This is an ideal opportunity for either an investor looking to re-purpose the space or an owner/user who could occupy the property for their business, while taking advantage of historically low interest rates. SBA loans are fixed and fully amortized over a 25-year period and the current rates are in the low to mid 3 percent range (~3.50%). %). The current property is leased out on M-T-M leases and also has significant development potential due to the large lot size, desirable zoning standards and substantial TOC density bonuses (Tier 3). Contact agent regarding development potential and additional SBA incentives available at this time.

*Neighboring Properties 5524-5528 Monte Vista & 233-235 N Avenue 55 also for sale. Please
contact Agent for more details.

Investment Highlights

  • Rare Brick Storefront Retail Building on Monte Vista
  • Small Unit Sizes Allowing for High Price/SF on Rent
  • Average 5-Mile Household Income of $98,909
  • High Barriers to Entry Location
  • Huge Development Potential (Tier 3 TOC)

Exclusively Listed By

Listing Price: $1,400,000

Cap Rate
1.34%
Gross SF
4,271
Rentable SF
4,271
Price/Gross SF
$327.79
Lot Size
0.17 acres
Year Built
1922

Investment Highlights

  • Rare Brick Storefront Retail Building on Monte Vista
  • Small Unit Sizes Allowing for High Price/SF on Rent
  • Average 5-Mile Household Income of $98,909
  • High Barriers to Entry Location
  • Huge Development Potential (Tier 3 TOC)

Investment Overview

Marcus & Millichap is pleased to present 5506-5514 Monte Vista St, a unique storefront retail property with a distinctive brick faade located in the heart of Highland Park. The subject property consists of an approximate 4,271 square foot space situated on a 0.17-acre C4 zoned parcel. The average unit size for this location is well under 1,000 square-feet, allowing for significantly higher rent/SF for each store. With a private parking lot and an abundance of street parking, this site will draw a great deal of interest from new & trendy businesses. Besides the few main commercial corridors, 5506-5514 Monte Vista St benefits largely from a dense residential neighborhood that is experiencing significant positive change. Along N Figueroa St there are a considerable amount of mom & pop shops, local award winning restaurants and local small businesses that have grown substantially over the last 5 years. Between Highland Parks two main streets (York Blvd & Figueroa), you will frequently find neighborhood coffee shops, thrift stores and new nightlife establishments beaming with life.

The building is conveniently located just a few blocks from the 110 Freeway, which easily connects to Downtown Los Angeles, Pasadena and Glendale. The Metro Gold Line can also get commuters to Downtown LA in just 30 minutes. A few years ago, the city opened up a major stop at the intersection of Marmion Way and North Avenue 57, located just a few blocks from the subject property. Additionally, the building boasts a walk score of 93 (Walkers Paradise), allowing for ease of use to get from one place to another. This coupled with the fact that there are approximately 750,000 people and an average household income of $98,909 within a 5-mile radius, will only help accelerate the continued rapid appreciation of Highland Park.

This is an ideal opportunity for either an investor looking to re-purpose the space or an owner/user who could occupy the property for their business, while taking advantage of historically low interest rates. SBA loans are fixed and fully amortized over a 25-year period and the current rates are in the low to mid 3 percent range (~3.50%). %). The current property is leased out on M-T-M leases and also has significant development potential due to the large lot size, desirable zoning standards and substantial TOC density bonuses (Tier 3). Contact agent regarding development potential and additional SBA incentives available at this time.

*Neighboring Properties 5524-5528 Monte Vista & 233-235 N Avenue 55 also for sale. Please
contact Agent for more details.

Exclusively Listed By

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