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4966 Monte Vista St

4966 Monte Vista St, Los Angeles, CA 90042

Listing Price: $750,000

Cap Rate
2.64%
Gross SF
1,238
Rentable SF
1,238
Price/Gross SF
$605.82
Lot Size
0.06 acres
Year Built
1907

Investment Overview

Marcus & Millichap is pleased to present 4966 Monte Vista, a rare small multi-tenant commercial property located in the heart of Highland Park. The subject property consists of an approximate 1,238 square-feet of building area with 2 tandem parking spots (4 spaces). 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 unit size is only 619 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 Street 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 85 (Very Walkable), 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 over $95,000 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 capitalize on high rents 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 in place rent. Contact agent regarding additional SBA incentives available at this time.

*Neighboring Property 228 N Avenue 50, also available for sale.
See pg. 28 of OM for combined pricing or contact Agent for details.

Investment Highlights

  • Rare Small Storefront Retail Building at a Busy Signalized Intersection
  • Small Unit Sizes Allowing for High Price / SF on Rent
  • Located a Few Blocks from a Metro Gold Line Stop
  • Walk Score of 85 (Very Walkable)

Exclusively Listed By

Financing By

Listing Price: $750,000

Cap Rate
2.64%
Gross SF
1,238
Rentable SF
1,238
Price/Gross SF
$605.82
Lot Size
0.06 acres
Year Built
1907

Investment Highlights

  • Rare Small Storefront Retail Building at a Busy Signalized Intersection
  • Small Unit Sizes Allowing for High Price / SF on Rent
  • Located a Few Blocks from a Metro Gold Line Stop
  • Walk Score of 85 (Very Walkable)

Investment Overview

Marcus & Millichap is pleased to present 4966 Monte Vista, a rare small multi-tenant commercial property located in the heart of Highland Park. The subject property consists of an approximate 1,238 square-feet of building area with 2 tandem parking spots (4 spaces). 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 unit size is only 619 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 Street 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 85 (Very Walkable), 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 over $95,000 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 capitalize on high rents 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 in place rent. Contact agent regarding additional SBA incentives available at this time.

*Neighboring Property 228 N Avenue 50, also available for sale.
See pg. 28 of OM for combined pricing or contact Agent for details.

Exclusively Listed By

Financing By

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