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6029-6039 N Figueroa Street
Los Angeles, CA 90042

Price: $6,700,000 Zoning: [Q]C4-2D-HPOZ
Bldg SF: 13,000 SF Price/SF: $515
Land SF: 20,232 SF Lease Type: NNN
Click to View Offering MemorandumClick to Print Offering Memorandum

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


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Price: 6029-6039 N Figueroa Blvd, Los Angeles, CA 90042
Bldg SF: 13,000 SF
Land SF: 20,232 SF
ProForma CAP Rate: 8.77%
Price/SF: $515
Lease Type: NNN
Click to View Offering MemorandumClick to Print Offering Memorandum

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


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Investment Highlights

True Value-Add or Owner-User Opportunity in the Heart of Highland Park, CA

 

  • 13,000 square foot building ideally situated on 20,232 square feet of land
  • Two beautiful bow-trust buildings with exposed ceilings and brick, an extended breezeway which would potentially allow for an open-air common area and multiple patios
  • 5,000 square feet on the hard corner is currently occupied by Dollar Deals on a lease though March 2021 with no options
  • 8,000 square foot interior unit is currently vacant
  • Rear private parking lot with fifteen parking spaces
  • Large monument sign

 

Prime Highland Park Signalized Corner Location

 

  • Northwest signalized corner of Figueroa Street and North Avenue 61
  • One of the best locations in Huntington Park featuring excellent visibility and frontage along Figueroa Street, Highland Park’s most pedestrian-friendly and trendy thoroughfares
  • 150 feet of linear frontage along Figueroa Street
  • 20,232 square feet of land zoned [Q] C4-2D-HPOZ
  • Tier 3 TOC
  • State Enterprise Zone
  • Ideally located just two blocks (0.3 of a mile) from Metro’s Gold Line Highland Park Station
  • Walk Score of 93, a Walker’s Paradise

 

Highland Park is Rapidly Becoming one of Los Angeles’ Best Locations

 

  • The immediate sub-market is experiencing tremendous growth, with over 2,440 residential units currently under development in the immediate area
  • Just a few miles from Downtown Los Angeles, Pasadena and Eagle Rock
  • Highly walkable urban culture stocked with trendy gastropubs and are galleries
  • The advent of the Gold Lone Station near the intersection of North Avenue 57 and Mariom Way, just 0.3 of a mile from the subject property, is rapidly evolving into the sub-market into a transit-friendly community
  • Most recently named LA’s greatest neighborhood
  • A plethora of new coffee concepts, bars and lounges, restaurants, and destinations line the immediate sub-market

 

Dense Immediate Population with Strong Underlying Demographics

 

  • Over 14,000 people within one mile of the subject property, over 81,000 people within three miles, and over 244,000 people within five miles
  • Affluent sub-market boasts an average household income of over $88,000 within one mile of the subject property and over $107,000 within three miles
  • Median Age of 35
  • 1% increase in home values, with a median home value of over $950,000