4614 S Western Ave
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4614 S Western Ave
7,824 SF Vacant Retail Building Los Angeles, CA 90062 $1,750,000 ($224/SF)
Investment Highlights
- Great Opportunity to Rehab a Mixed Use Property on a busy street
- Across the Street from Barack Obama Global Preparation Academy & Westbrook Middle School
- On Western Avenue Between Vernon and Slauson Ave.
Executive Summary
Value Added Opportunity for a fully vacant Retail/Office/Residential property consisting of 7,824 SF of building and 5,663.SF of land. Potential to remodel the existing building or build new development. Listed at below market prices and has live/work potential.
Mid Century Modern Mixed Use 2 Story Building located on Western Avenue, just south of Vernon Avenue.
1st Floor has 7 commercial units (retail and office)
2nd Floor has 4 one-bedroom and one-bathroom residential apartment units
Gated parking lot in rear with alley access. Property also features an atrium, front and rear staircases, and a storage room.
Located in an Opportunity Zone, Los Angeles State Enterprise Zone , Redevelopment Project Area - Western/Slauson, and Urban Agriculture Incentive Zone. Property has some deferred maintenance and needs updating. Various incentives and highly desirable loan programs for owner-users are available. Property neighbors several large new developments. Neighborhood has lots of upside and growth potential. Across the Street from Barack Obama Global Preparation Academy & Westbrook Middle School. On Western Avenue Between 46th and 47th Street, South of Vernon Ave and North of Slauson Ave.
Located in Transit Oriented Community Tier 3 (TOC 3) with bus stops located at Western/Vernon and Western/48th Ave. The centrally located property is eligible for Reduced Parking Requirements, AB 2334 Density Bonus, and probably AB 2011 Streamlined Approval.
Showing by appointment. Call Jon Varsano or Jerry Wiener.
Mid Century Modern Mixed Use 2 Story Building located on Western Avenue, just south of Vernon Avenue.
1st Floor has 7 commercial units (retail and office)
2nd Floor has 4 one-bedroom and one-bathroom residential apartment units
Gated parking lot in rear with alley access. Property also features an atrium, front and rear staircases, and a storage room.
Located in an Opportunity Zone, Los Angeles State Enterprise Zone , Redevelopment Project Area - Western/Slauson, and Urban Agriculture Incentive Zone. Property has some deferred maintenance and needs updating. Various incentives and highly desirable loan programs for owner-users are available. Property neighbors several large new developments. Neighborhood has lots of upside and growth potential. Across the Street from Barack Obama Global Preparation Academy & Westbrook Middle School. On Western Avenue Between 46th and 47th Street, South of Vernon Ave and North of Slauson Ave.
Located in Transit Oriented Community Tier 3 (TOC 3) with bus stops located at Western/Vernon and Western/48th Ave. The centrally located property is eligible for Reduced Parking Requirements, AB 2334 Density Bonus, and probably AB 2011 Streamlined Approval.
Showing by appointment. Call Jon Varsano or Jerry Wiener.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Deferred Maintenance
Property Type
Retail
Property Subtype
Building Size
7,824 SF
Building Class
C
Year Built
1962
Price
$1,750,000
Price Per SF
$224
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.38
Land Acres
0.13 AC
Opportunity Zone
Yes
Zoning
C2 - C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Uses
Frontage
42 FT on South Western Avenue
Amenities
- Atrium
- Bus Line
- Fenced Lot
PROPERTY TAXES
| Parcel Number | 5016-014-004 | Improvements Assessment | $108,376 |
| Land Assessment | $28,576 | Total Assessment | $136,952 |
PROPERTY TAXES
Parcel Number
5016-014-004
Land Assessment
$28,576
Improvements Assessment
$108,376
Total Assessment
$136,952
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Jon Varsano -
Vars Real Estate
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4614 S Western Ave
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