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Office

5265 Fountain Ave

5265 Fountain Ave, Los Angeles, CA 90029

Listing Price: $3,600,000

Cap Rate
3.39%
Gross SF
7,114
Rentable SF
7,114
Price/Gross SF
$506.04
Lot Size
0.13 acres
Year Built
1986

Investment Overview

Marcus & Millichap has been selected to exclusively represent for sale 5265 Fountain Avenue, a 7,114 square foot live/work community zoned R3-1 with a commercial overlay allowance, located on the Northeast corner of Fountain Avenue and North Harvard Boulevard in the heart of East Hollywood, CA. The subject property is ideally located three blocks east of the Interstate 101 Hollywood Freeway and one block south of Sunset Boulevard, on of the major retail thoroughfares that runs through Los Angeles.5265 Fountain Avenue is well located in a prime part of the dense, high-growth Los Angeles County submarket of East Hollywood, CA. Significant development is occurring in the immediate area, with over 4,400 in-progress and recently completed residential units in the local sub-market. The subject property is located one half mile east of the former SEARS site located at 5601 Santa Monica Boulevard where BARDAS Investment Group and Bain Capital plan to develop 600,000 square feet of sound and flex stages, private bungalow space, and creative office space. The property is also located 2 miles from AVA Hollywood at La Pietra Place, a 695-unit development project, 2 miles from The Rise Hollywood, a 369-unit development project, and 2.4 miles from 6901 Santa Monica Boulevard, a 231-unit development project. Less than 1 mile from the subject property, two substantial developments are planned at the intersection of Sunset and Western. SunWest is being developed by Reliable Properties at the northwest corner of Sunset & Western and is slated to include 293 residential units above 33,000 square feet of commercial space. At 5420 Sunset Boulevard, formerly a Food 4 Less, American Commercial Equities is developing 735 residential units accompanied by 95,820 square feet of commercial space. The offering consists of 7,114 square feet of high-end live/workspace situated on a 5,784 square foot lot, located in a Tier 3 Transit Oriented Community (TOC). The property is currently 78% occupied by short term and month-to-month tenants and is well-positioned for robust long-term rental growth as the immediate surrounding area benefits from continued major redevelopment and gentrification.

Investment Highlights

  • Located In The High-Growth, Burgeoning Submarket Of East Hollywood, CA, Which Boasts Over 4,400 In-Progress Or Recently Completed Residential Development Projects
  • Significant Demand for Unique And Top Of The Line Creative Space In The Immediate Area
  • Highly Unique Live/Work Space Allowing A New Owner To Immediately Capture 48% Rental Upside With Modest Upgrades To The Exterior Entrances And Garden Areas
  • Over 89,629 People Are Located Within One Mile Of The Subject Property, 526,789 People Within Three Miles, And 1,094,267 Within Five Miles
  • There Are Over 32,135 Households Located Within One Mile Of The Subject Property, 213,661 Within Three Miles, And 438,841 Within Five Miles
  • Average Household Income Is Over $61,009 Within One Mile Of The Subject Property, $80,906 Within Three Miles, And $87,060 Within Five Miles
  • Located Within Close Proximity To A Number Of National Retailers And High-End Residential Developments
  • Subject property was initially constructed as a commercial building, but property is zoned R3-1. Buyer to verify allowable uses with the City.

Exclusively Listed By

Financing By

Office

5265 Fountain Ave

Listing Price: $3,600,000

Cap Rate
3.39%
Gross SF
7,114
Rentable SF
7,114
Price/Gross SF
$506.04
Lot Size
0.13 acres
Year Built
1986

Investment Highlights

  • Located In The High-Growth, Burgeoning Submarket Of East Hollywood, CA, Which Boasts Over 4,400 In-Progress Or Recently Completed Residential Development Projects
  • Significant Demand for Unique And Top Of The Line Creative Space In The Immediate Area
  • Highly Unique Live/Work Space Allowing A New Owner To Immediately Capture 48% Rental Upside With Modest Upgrades To The Exterior Entrances And Garden Areas
  • Over 89,629 People Are Located Within One Mile Of The Subject Property, 526,789 People Within Three Miles, And 1,094,267 Within Five Miles
  • There Are Over 32,135 Households Located Within One Mile Of The Subject Property, 213,661 Within Three Miles, And 438,841 Within Five Miles
  • Average Household Income Is Over $61,009 Within One Mile Of The Subject Property, $80,906 Within Three Miles, And $87,060 Within Five Miles
  • Located Within Close Proximity To A Number Of National Retailers And High-End Residential Developments
  • Subject property was initially constructed as a commercial building, but property is zoned R3-1. Buyer to verify allowable uses with the City.

Investment Overview

Marcus & Millichap has been selected to exclusively represent for sale 5265 Fountain Avenue, a 7,114 square foot live/work community zoned R3-1 with a commercial overlay allowance, located on the Northeast corner of Fountain Avenue and North Harvard Boulevard in the heart of East Hollywood, CA. The subject property is ideally located three blocks east of the Interstate 101 Hollywood Freeway and one block south of Sunset Boulevard, on of the major retail thoroughfares that runs through Los Angeles.5265 Fountain Avenue is well located in a prime part of the dense, high-growth Los Angeles County submarket of East Hollywood, CA. Significant development is occurring in the immediate area, with over 4,400 in-progress and recently completed residential units in the local sub-market. The subject property is located one half mile east of the former SEARS site located at 5601 Santa Monica Boulevard where BARDAS Investment Group and Bain Capital plan to develop 600,000 square feet of sound and flex stages, private bungalow space, and creative office space. The property is also located 2 miles from AVA Hollywood at La Pietra Place, a 695-unit development project, 2 miles from The Rise Hollywood, a 369-unit development project, and 2.4 miles from 6901 Santa Monica Boulevard, a 231-unit development project. Less than 1 mile from the subject property, two substantial developments are planned at the intersection of Sunset and Western. SunWest is being developed by Reliable Properties at the northwest corner of Sunset & Western and is slated to include 293 residential units above 33,000 square feet of commercial space. At 5420 Sunset Boulevard, formerly a Food 4 Less, American Commercial Equities is developing 735 residential units accompanied by 95,820 square feet of commercial space. The offering consists of 7,114 square feet of high-end live/workspace situated on a 5,784 square foot lot, located in a Tier 3 Transit Oriented Community (TOC). The property is currently 78% occupied by short term and month-to-month tenants and is well-positioned for robust long-term rental growth as the immediate surrounding area benefits from continued major redevelopment and gentrification.

Exclusively Listed By

Financing By

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