1001 N Vermont Ave
9,208 SF Retail Building Los Angeles, CA 90029 $4,200,000 ($456/SF)
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INVESTMENT HIGHLIGHTS
- Next door to Santa Monica / Vermont Metro Station on the Red Line
- 0.5 miles from Hollywood Presbyterian Medical Center, Children's Hospital LA, and Kaiser Permanente Medical Center
- 15 car surface lot
EXECUTIVE SUMMARY
*Disclosure: Receivership sale, subject to court approval. For additional information, please contact listing team.
CBRE has been retained by Ownership as the exclusive marketing adviser for 1001 N Vermont Ave, Los Angeles, CA 90029 (“the Property”). Situated on a ±10,385 SF lot (0.24 acres), the Property encompasses 2 floors totaling ±9,127 SF of retail space currently configured as a grocery store. Conveniently located at the Vermont / Santa Monica Metro Station on the Red line in East Hollywood, the Property sits between Los Angeles City College and a newly delivered 187-unit multi-family development. The Property offers an incredibly opportunity for an owner-user or developer.
The East Hollywood neighborhood of Los Angeles has a population of more than 78,000 residents and is characterized by a high concentration of multi-family and mixed-use developments. There are currently over 1,200 new apartment units under construction and the submarket’s multi-family vacancy sits at ~5%. Los Angeles Community College has over 13,000 students, of which 2,687 are full-time. The area is seeing increased investment from developers, both public and private, suggesting confidence in the market’s continued growth. East Hollywood’s close proximity to the up-scale Silverlake neighborhood gives it immediate access to some of Los Angele‘s best amenities.
Located in a Transit Oriented Communities (TOC) Tier-4 Zone and with C2 zoning, the Property lends itself well to a wide array of potential development uses. Neighboring properties received increases in building FAR up to 4.5:1 (to be confirmed by Buyer).
CBRE has been retained by Ownership as the exclusive marketing adviser for 1001 N Vermont Ave, Los Angeles, CA 90029 (“the Property”). Situated on a ±10,385 SF lot (0.24 acres), the Property encompasses 2 floors totaling ±9,127 SF of retail space currently configured as a grocery store. Conveniently located at the Vermont / Santa Monica Metro Station on the Red line in East Hollywood, the Property sits between Los Angeles City College and a newly delivered 187-unit multi-family development. The Property offers an incredibly opportunity for an owner-user or developer.
The East Hollywood neighborhood of Los Angeles has a population of more than 78,000 residents and is characterized by a high concentration of multi-family and mixed-use developments. There are currently over 1,200 new apartment units under construction and the submarket’s multi-family vacancy sits at ~5%. Los Angeles Community College has over 13,000 students, of which 2,687 are full-time. The area is seeing increased investment from developers, both public and private, suggesting confidence in the market’s continued growth. East Hollywood’s close proximity to the up-scale Silverlake neighborhood gives it immediate access to some of Los Angele‘s best amenities.
Located in a Transit Oriented Communities (TOC) Tier-4 Zone and with C2 zoning, the Property lends itself well to a wide array of potential development uses. Neighboring properties received increases in building FAR up to 4.5:1 (to be confirmed by Buyer).
PROPERTY FACTS
Sale Type
Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
9,208 SF
Building Class
C
Year Built
1970
Price
$4,200,000
Price Per SF
$456
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.89
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
C2
Parking
15 Spaces (1.92 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (76)
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Number | 5538-022-021 | Improvements Assessment | $459,578 (2024) |
Land Assessment | $904,099 (2024) | Total Assessment | $1,363,677 (2024) |