850 N. Vermont Avenue
Los Angeles, CA 90029

Price: | $3,150,000 | Zoning: | LAC2 |
Bldg SF: | 8,588 SF | Price/SF: | $367 |
Land SF: | 12,854 SF | Pro Forma CAP Rate: | 6.92% |
TOC: | Tier 3 | 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: $3,150,000
Bldg SF: 8,588 SF
Land SF: 12,854 SF
ProForma CAP Rate: 6.92%
Price/SF: $367
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