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6114-6120 n Figueroa St

6114-6120 N Figueroa St, Los Angeles, CA 90042

Listing Price: $1,895,000

Cap Rate
2.80%
Gross SF
5,431
Rentable SF
5,431
Price/Gross SF
$348.92
Lot Size
0.21 acres
Year Built
1930

Investment Overview

Marcus & Millichap is pleased to present 6114-6120 N Figueroa St, a rare multi-tenant commercial property located in the heart of Highland Park. The subject property consists of an approximate 5,431 square-feet of building area, situated on a 0.21-acre C4-zoned parcel. Located at the end of Downtown Highland Park, this area is highly desirable due to its walkability and close proximity to all other main restaurant and retail shops. In addition, the average size for 4 out of 5 units is only 725 square feet, allowing for significantly higher rent/SF for each space. With the exception of just two main commercial corridors, Highland Park is largely comprised of a dense residential neighborhood, all of which is experiencing significant positive renewal. Along N Figueroa St. there are a considerable number of boutiques, local award-winning restaurants, and local small businesses, that have grown substantially over the last five years. Between Highland Parks two main streets (York Blvd & Figueroa), you will frequently find neighborhood coffee shops, thrift stores and new nightlife establishments bursting 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 725,000 people and an average household income of $92,601 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 repurpose 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 3 percent range. The current property is leased out on M-T-M leases and benefits from flexible zoning, allowing for a multitude of uses for the site. Contact agent regarding additional SBA incentives available at this time.

*Neighboring Property 6126-6130 N Figueroa St is also available for sale - Contact Agent for info.
*There is approximately 500-600 SF of unpermitted space behind the property that is NOT included in our calculated SF.

Investment Highlights

  • Rare Commercial Property in the Heart of Highland Park
  • Considerable Potential for Other Commercial Uses (C4 Zoning)
  • Walk Score of 93 (Walkers Paradise)

Exclusively Listed By

Listing Price: $1,895,000

Cap Rate
2.80%
Gross SF
5,431
Rentable SF
5,431
Price/Gross SF
$348.92
Lot Size
0.21 acres
Year Built
1930

Investment Highlights

  • Rare Commercial Property in the Heart of Highland Park
  • Considerable Potential for Other Commercial Uses (C4 Zoning)
  • Walk Score of 93 (Walkers Paradise)

Investment Overview

Marcus & Millichap is pleased to present 6114-6120 N Figueroa St, a rare multi-tenant commercial property located in the heart of Highland Park. The subject property consists of an approximate 5,431 square-feet of building area, situated on a 0.21-acre C4-zoned parcel. Located at the end of Downtown Highland Park, this area is highly desirable due to its walkability and close proximity to all other main restaurant and retail shops. In addition, the average size for 4 out of 5 units is only 725 square feet, allowing for significantly higher rent/SF for each space. With the exception of just two main commercial corridors, Highland Park is largely comprised of a dense residential neighborhood, all of which is experiencing significant positive renewal. Along N Figueroa St. there are a considerable number of boutiques, local award-winning restaurants, and local small businesses, that have grown substantially over the last five years. Between Highland Parks two main streets (York Blvd & Figueroa), you will frequently find neighborhood coffee shops, thrift stores and new nightlife establishments bursting 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 725,000 people and an average household income of $92,601 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 repurpose 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 3 percent range. The current property is leased out on M-T-M leases and benefits from flexible zoning, allowing for a multitude of uses for the site. Contact agent regarding additional SBA incentives available at this time.

*Neighboring Property 6126-6130 N Figueroa St is also available for sale - Contact Agent for info.
*There is approximately 500-600 SF of unpermitted space behind the property that is NOT included in our calculated SF.

Exclusively Listed By

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