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Multi-Family

5508 W Pico Blvd / 1401 Carmona Ave

5508 W Pico Blvd, Los Angeles, CA 90019

Listing Price: $5,200,000

Lot Size
0.32 acres
Price/Acre
$16,109,238
Land Type
Land
Buildable Square Feet
21,091

Investment Overview

Marcus & Millichap is pleased to present 5500-5510 W Pico Blvd & 1401 Carmona Ave, a 14,061 square foot owner user, investment, or development opportunity in a prime Mid-Wilshire location, between Carmona Ave & Sierra Bonita Ave. This corner development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 58 units utilizing the TOC benefits; there are currently no plans or entitlements in place. The majority of tenants are on month-to-month net leases, allowing the developer the ability to collect income of $19,450 per month 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

  • 5500-5510 W Pico Blvd is a 14,061 square foot develop-ent opportunity in a prime Mid-Wilshire location, between Carmona Ave & Sierra Bonita Ave.
  • This corner development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 58 units utilizing the TOC benefits; there are currently no plans or entitlements in
  • The majority of tenants are on month-to-month net leases, allowing the developer the ability to collect income of $19,450 per month while obtaining permits and conducting the entitlement process.
  • Mid-Wilshire is a prime Central LA location known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district.
  • 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.

Exclusively Listed By

Financing By

Multi-Family

5508 W Pico Blvd / 1401 Carmona Ave

Listing Price: $5,200,000

Lot Size
0.32 acres
Price/Acre
$16,109,238
Land Type
Land
Buildable Square Feet
21,091

Investment Highlights

  • 5500-5510 W Pico Blvd is a 14,061 square foot develop-ent opportunity in a prime Mid-Wilshire location, between Carmona Ave & Sierra Bonita Ave.
  • This corner development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 58 units utilizing the TOC benefits; there are currently no plans or entitlements in
  • The majority of tenants are on month-to-month net leases, allowing the developer the ability to collect income of $19,450 per month while obtaining permits and conducting the entitlement process.
  • Mid-Wilshire is a prime Central LA location known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district.
  • 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.

Investment Overview

Marcus & Millichap is pleased to present 5500-5510 W Pico Blvd & 1401 Carmona Ave, a 14,061 square foot owner user, investment, or development opportunity in a prime Mid-Wilshire location, between Carmona Ave & Sierra Bonita Ave. This corner development lot is zoned C4-1-O in a Tier 2 TOC and presents an investor the opportunity to build up to 58 units utilizing the TOC benefits; there are currently no plans or entitlements in place. The majority of tenants are on month-to-month net leases, allowing the developer the ability to collect income of $19,450 per month 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

Financing By

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