For Sale - Retail Strip in Mid-Wilshire
$4,500,000
4058-4070 West Pico Boulevard, Los Angeles, CA 90019
5.74
Pro Forma Cap Rate
9,210 sqft
Building Size
Details:
Description:
WESTMAC Commercial Brokerage Company is pleased to present the opportunity to purchase 4058-4070 W Pico Boulevard, a retail strip center in Mid-Wilshire. The subject property is comprised of approximately ±9,210 square feet of building on approximately ±10,745 square feet of land. The property was built in 1994 and is zoned LAC4.
The building is located on the south side of W Pico Boulevard, just east of Crenshaw Boulevard. 4058-4070 W Pico is conveniently located near Downtown LA, Koreatown, and Mid-City, less than five minutes from the 10 freeway. The location draws traffic from the dense residential population immediately surrounding the property, as well as visitors commuting from the east to the west side. There is a number 30 bus stop adjacent to the property, connecting from Mid-City to Downtown LA and Little Tokyo.
The building is comprised of seven (7) units, five (5) of which are occupied. One tenant is on a lease until 2028, while the rest expire in 2025 or are month-to-month. The two vacant units are 4070 (which features corner access and high ceilings) and 4068. The gated rear alley is large enough for cars to park or use as a loading dock.
4058-4070 W Pico offers an opportunity for an investor to have a sizable footprint in a vibrant and ever-growing neighborhood centrally located in Los Angeles.
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