Significant Price Reduction - Leimert Park | 2618 W Martin Luther King Jr Blvd
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Significant Price Reduction - Leimert Park 2618 W Martin Luther King Jr Blvd
941 SF Vacant Retail Building Los Angeles, CA 90008 $950,000 ($1,010/SF)
Investment Highlights
- Development Potential: C2 Zoned with potential for 100% Affordable Housing
- Location: Corner property with alley located in Leimert Park
Executive Summary
SIGNIFICANT PRICE REDUCTION! 2618 W Martin Luther King Jr Boulevard is a well-positioned development opportunity located in Leimert Park, one of the hottest submarkets throughout Los Angeles. The property consists of ±5,908 SF of C2 land, positioned on a corner with alley access in the rear.
The property has approximately ±57’ in width, ±105’ in depth, and a ±20’ alley in the rear to allow for ingress/egress flexibility on a new development. The current improvements, a 941 SF building that was previously a restaurant use, are in need of either demolition or a full rebuild.
Nearby developments include 195 units on Crenshaw Boulevard, the Baldwin Hills Crenshaw Plaza, and various creative offices off of Jefferson Boulevard. With its central location 2.5 miles from USC and just a 2-minute drive from LAX to Crenshaw Metro Rail Line, a new development is expected to be the property’s highest and best use.
Buyers shall rely on their own due diligence to verify the development potential of the property within the City of Los Angeles.
Contact Casey Lins at 714.333.6768 or casey.lins@kidder.com to schedule a walkthrough.
The property has approximately ±57’ in width, ±105’ in depth, and a ±20’ alley in the rear to allow for ingress/egress flexibility on a new development. The current improvements, a 941 SF building that was previously a restaurant use, are in need of either demolition or a full rebuild.
Nearby developments include 195 units on Crenshaw Boulevard, the Baldwin Hills Crenshaw Plaza, and various creative offices off of Jefferson Boulevard. With its central location 2.5 miles from USC and just a 2-minute drive from LAX to Crenshaw Metro Rail Line, a new development is expected to be the property’s highest and best use.
Buyers shall rely on their own due diligence to verify the development potential of the property within the City of Los Angeles.
Contact Casey Lins at 714.333.6768 or casey.lins@kidder.com to schedule a walkthrough.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
941 SF
Building Class
C
Year Built
1964
Price
$950,000
Price Per SF
$1,010
Percent Leased
Vacant
Building Height
1 Story
Building FAR
0.16
Land Acres
0.14 AC
Zoning
LAC2
Parking
3 Spaces (3.19 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Very Walkable (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 5023-023-018 | Improvements Assessment | $132,651 |
| Land Assessment | $382,034 | Total Assessment | $514,685 |
PROPERTY TAXES
Parcel Number
5023-023-018
Land Assessment
$382,034
Improvements Assessment
$132,651
Total Assessment
$514,685
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Significant Price Reduction - Leimert Park | 2618 W Martin Luther King Jr Blvd
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