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Multi-Family

5006-5028 W Pico Blvd

5006 W Pico Blvd, Los Angeles, CA 90019

Listing Price: $12,500,000

Lot Size
0.83 acres
Price/Acre
$14,970,718
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to present 5006-5028 W Pico Blvd. Spanning an entire city block between S Mansfield Ave. and S. Orange Dr, this is a 36,371 square foot investment opportunity with four tenants in-place plus billboard income, including the original Roscoe’s Famous Chicken and Waffles at Pico and Mansfield in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier 3 TOC and presents an investor the opportunity to build up to 157 units utilizing the TOC benefits; there are currently no plans or entitlements in place. The site currently consists of a restaurant and three automotive tenants on short-term net leases plus billboard income for a total of $404,112 annually, allowing the developer flexibility of adding an incoming producing property to their portfolio and the of ability to collect income while conducting an 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 91, 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

  • 5006-5028 W. Pico Boulevard is a 36,361 square foot investment opportunity situated on Pico Blvd in a prime Mid-Wilshire Location
  • The property spans the entire block along Pico Blvd, between S Mansfield Ave and S. Orange Dr
  • The development lot is zoned C4-1-O in a Tier 3 TOC and presents an investor the opportunity to build up to 157 units utilizing the TOC benefits
  • The current building consists of Roscoe's House of Chicken & Waffles, three automotive tenants on short term net leases plus billboard income
  • 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 Shops
  • The subject property boasts a high walk score of 91, a "walker's paradise" in a central Los Angeles

Exclusively Listed By

Financing By

Listing Price: $12,500,000

Lot Size
0.83 acres
Price/Acre
$14,970,718
Land Type
Land

Investment Highlights

  • 5006-5028 W. Pico Boulevard is a 36,361 square foot investment opportunity situated on Pico Blvd in a prime Mid-Wilshire Location
  • The property spans the entire block along Pico Blvd, between S Mansfield Ave and S. Orange Dr
  • The development lot is zoned C4-1-O in a Tier 3 TOC and presents an investor the opportunity to build up to 157 units utilizing the TOC benefits
  • The current building consists of Roscoe's House of Chicken & Waffles, three automotive tenants on short term net leases plus billboard income
  • 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 Shops
  • The subject property boasts a high walk score of 91, a "walker's paradise" in a central Los Angeles

Investment Overview

Marcus & Millichap is pleased to present 5006-5028 W Pico Blvd. Spanning an entire city block between S Mansfield Ave. and S. Orange Dr, this is a 36,371 square foot investment opportunity with four tenants in-place plus billboard income, including the original Roscoe’s Famous Chicken and Waffles at Pico and Mansfield in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier 3 TOC and presents an investor the opportunity to build up to 157 units utilizing the TOC benefits; there are currently no plans or entitlements in place. The site currently consists of a restaurant and three automotive tenants on short-term net leases plus billboard income for a total of $404,112 annually, allowing the developer flexibility of adding an incoming producing property to their portfolio and the of ability to collect income while conducting an 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 91, 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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