646 Larchmont Boulevard, Los Angeles
$4,000,000MLS® # 24359073
$3,900,000
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PRIME LOCATION:Situated in the sought-after Oakwood/Melrose Hill area of Los Angeles, with coveted corner lot access to Beverly Blvd. BUILDING AND LOT:Spans 7,990 SF across two lots totaling 15,262 SF, offering significant development potential. TENANT COMPOSITION:Currently housing 5 under-market month-to-month tenants, presenting an opportunity for immediate rental upside. IDEAL CONFIGURATION:Well-suited for owner use, particularly for medical or industrial purposes, with existing unit configurations. PARKING COMPLIANCE:Site complies with the 2/1,000 SF medical parking requirement, enhancing its appeal for medical or industrial tenants. RENTAL UPSIDE:Potential for increased rental income with current tenants on month-to-month leases. VERSATILE SPACES:Features approximately 2,540 SF of retail space and a 5,450 SF industrial component, easily divisible to accommodate various businesses. RARE PARKING AVAILABILITY:Offers high-level parking, a rarity in the area, enhancing accessibility for tenants and customers. ZONING AND DEVELOPMENT POTENTIAL:Zoned C2 Tier 3 with eligibility for ED1, providing significant development opportunities. ENTERPRISE ZONE AND OPPORTUNITY ZONE:Located in the State Enterprise Zone and designated as an Opportunity Zone, offering potential tax benefits. STRATEGIC LOCATION:Positioned between Vermont and Western, boasting over 230 feet of frontage on bustling Beverly Blvd. ACCESSIBILITY:Easy access to the 101 freeway, Metro B line, Vermont/ Beverly Metro stop, as well as nearby amenities such as restaurants, bars, schools, and cultural landmarks. This mixed-use retail industrial property presents an exceptional investment opportunity in a highly desirable location with immense potential for growth and development.
MLS® # 24359073
MLS® # 23339495
Based on information from California Regional Multiple Listing Service, Inc. as of May 14th, 2024 at 9:30pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.