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$ 2,550,000
Est. payment | /mo
4,217 SqFt
$ 2,550,000
Est. payment | /mo
4,217 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,217 sqft
Price per Sqft $604
MLS Listing ID CRBB24132576
HOA Y/N No
Year Built 1942
Lot Size 0.259 Acres
Acres 0.26
Property Sub-Type Other
Property Description
We are pleased to present a unique chance to acquire a versatile mixed-use commercial property ideally located on renowned Lankershim Blvd, offering both a cash flow generating property, as well as a lucrative Development Opportunity. This property currently features a total of six units, comprising three commercial units and three residential units. The building spans 4,217 square feet and is situated on a generous 11,284 square feet lot. The current 5% CAP Rate is based on existing rental income, with the possibility to enhance returns through additional ADU constructions or explore redevelopment opportunities for a mixed-use project featuring up to 40 units alongside ground-floor retail. Its location is optimal with LAC2 zoning, dual access from the front and back of the lot, and proximity to public transit, ensuring significant pedestrian and vehicular traffic (over 260,000 employees within a 5-mile radius and 27,000 cars daily). This makes it a highly desirable location for development.
Location
State CA
County Los Angeles
Area Listing
Zoning LAC2
Interior
Fireplace No
Laundry Inside
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 2316014019
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Listed by David Nalbandyan • LA Premier Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "