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850 N. Vermont Avenue
Los Angeles, CA 90029

Price: $4,000,000 Zoning: LAC2
Bldg SF: 8,588 SF Price/SF: $466
Land SF: 12,854 SF Pro Forma CAP Rate: 5.91%
TOC: Tier 4 Opportunity Zone: Yes
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Andrew Leff
(818) 212-2815
andrew.leff@marcusmillichap.com
License # 01865688

Address: 850 N. Vermont Ave, Los Angeles, CA 90029
Price: $4,000,000
Bldg SF: 8,588 SF
Land SF: 12,854 SF
ProForma CAP Rate: 5.91%
Price/SF: $466
Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Andrew Leff
(818) 212-2815
andrew.leff@marcusmillichap.com
License # 01865688

Investment Highlights

STRONG EAST HOLLYWOOD SIGNALIZED CORNER LOCATION

 

• NE signalized corner of Vermont Avenue and Normal Avenue
• Direct access to the 101 Freeway and close proximity to Hollywood, K-Town, Silver Lake, DTLA
• Significant redevelopment in the immediate area
• Excellent visibility and frontage
• Centralized location within close proximity to transit and the interstate 101 Ventura Freeway

 

VALUE-ADD OR OWNER-USER / INVESTMENT OPPORTUNITY

 

• Nearly 8,600 square feet of existing retail on M2M leases offering immediate upside or owner-user flexibility
• 12,854 square-feet of land
• 15 parking spaces in the rear of the property
• Excellent visibility and frontage along Vermont Avenue
• Units average 1,900 SF which are easily leasable with minimal costs

 

DENSELY POPULATED WEST HOLLYWOOD SUBMARKET UNDERGOING SIGNIFICANT EXPANSION

 

• Average household income north of $60,544 within a one-mile radius
• Over 1,133,727 people within 5 miles
• More than 26,683 households within 1 mile of the subject property
• Home to a mix of local and national retailers, local eateries, nightlife/entertainment options
• Situated directly across the street from the entrance to LACC

 

UNIQUE FUNDAMENTALS CREATE A DEVELOPMENT OPPORTUNITY WITHIN AN OPPORTUNITY ZONE AND A TIER 4 TOC

 

• High daily traffic counts north of 44,016 vehicles per day
• Walker’s paradise with a walk score of 91 out of 100
• Significant growth projections with an average population age of 37
• Tier 4 TOC
• Opportunity Zone
• Walking distance to Vermont/Santa Monica metro station