Skip to main content

Multi-Family

5101 W Pico Blvd

5101 W Pico Blvd, Los Angeles, CA 90019

Listing Price: $9,200,000

Lot Size
0.73 acres
Price/Acre
$12,539,174
Land Type
Redevelopment

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 5101-5121 W Pico Blvd. Spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960 square foot development opportunity between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 136 units utilizing the TOC benefits; there are currently no plans or entitlements in place. 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 $114,000 gross annually, allowing the developer the ability to collect income while obtaining permits and conducting the entitlement process. Mid-Wilshire is a neighborhood in the central region of Los Angeles, California known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district. 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 a convenient destination shopping experience.

Investment Highlights

  • 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 and Meadowbrook
  • This development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 136 units utilizing the TOC benefits; there are currently no plans or entitlements in place
  • 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-tomonth gross leases with a total income of $114,000 gross annually, allowing the developer the ability to collect income while conducting the entitlement process.

Exclusively Listed By

Listing Price: $9,200,000

Lot Size
0.73 acres
Price/Acre
$12,539,174
Land Type
Redevelopment

Investment Highlights

  • 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 and Meadowbrook
  • This development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 136 units utilizing the TOC benefits; there are currently no plans or entitlements in place
  • 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-tomonth gross leases with a total income of $114,000 gross annually, allowing the developer the ability to collect income while conducting the entitlement process.

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 5101-5121 W Pico Blvd. Spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960 square foot development opportunity between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 136 units utilizing the TOC benefits; there are currently no plans or entitlements in place. 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 $114,000 gross annually, allowing the developer the ability to collect income while obtaining permits and conducting the entitlement process. Mid-Wilshire is a neighborhood in the central region of Los Angeles, California known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district. 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 a convenient destination shopping experience.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower