Office For Sale in 90005
19 results
Address
Asking Price
Multifamily For Sale
720 S Hoover St
Westlake, Los Angeles, CA
Building Size:11,356SF
The offering is a Value-Added opportunity for a 27 unit, Contemporary, Non-Rent Controlled apartment property located in a rapidly gentrifying area near Wilshire Blvd in the Wilshire Center zip code. The opportunity shows greater than 28% upside in rents that maybe realized with a re-positioning, cleanup and makeover to transcend neglect and indifference of the prior ownership.The property built in 1990, is a contemporary, gated and secured, two story, interior courtyard building of frame and stucco construction above grade level secured parking (without soft story retrofit requirement). The property is a true Value-Added Opportunity- in fair condition, in need of renovations, mostly finishes and plumbing upgrades. The property has been somewhat neglected by the prior long term owner. The Tenancy has been stable with in place rents 28% below conservative market level rents for workforce housing and 60% below luxury market rents.The property is exempt from City of Los Angele RSO (rent control) and the owner has the right to terminate the tenancy of the tenants if conducting substantial remodeling requiring a permit that requires tenants to vacate for at least 30 days (AB1482). All tenants were served with a 60 day notice to vacate in early March 2020. The tenants relocation compensation is limited to one months rent payment or credit. Some tenants have accepted additional relocation inducements, there are three current vacancies. Three other have not paid April-May rent.The property is located in a desirable, rapidly gentrifying area in the City of Los Angeles. The location is two blocks south of the intersection of Hoover and Wilshire Blvd, where Hankey Investment Co. is constructing 2900 Wilshire- a $300M, 23 story, 644 unit mixed use, iconic undulating tower across from Lafayette Park. New development abounds nearby from four-plexes to high-rises. This area west of the Central City historically has been highly desirable. The Wilshire Corridor at Hoover and Lafayette Park are showing clear results of a mega renewal stimulated first by the Red Line metro on Wilshire Blvd and now by massive new luxury multi-family development.
$4,300,000
837 Normandie Avenue
837 S Normandie Ave
Koreatown, Los Angeles, CA
$231,250
3980 Ingraham Street
3980 Ingraham St
Mid City, Los Angeles, CA
$210,000
815 South New Hampshire Avenue
815 S New Hampshire Ave
Koreatown, Los Angeles, CA
Lot Size:0.17Acres
$275,000
837 South Ardmore Avenue
837 S Ardmore Ave
Koreatown, Los Angeles, CA
Lot Size:0.16Acres
$337,500
742 South Harvard Boulevard
742 S Harvard Blvd
Koreatown, Los Angeles, CA
Lot Size:0.53Acres
$458,333
743 South Harvard Boulevard
743 S Harvard Blvd
Koreatown, Los Angeles, CA
Lot Size:0.15Acres
$212,375
730 South Serrano Avenue
730 S Serrano Ave
Koreatown, Los Angeles, CA
Lot Size:0.53Acres
$305,882
890 Crenshaw Boulevard
890 Crenshaw Blvd
Mid City, Los Angeles, CA
$1,200,000
822 Crenshaw Boulevard
822 Crenshaw Blvd
Mid City, Los Angeles, CA
Lot Size:0.16Acres
$265,833
4006 Ingraham Street
4006 Ingraham St
Mid City, Los Angeles, CA
Lot Size:0.15Acres
$1,499,000
842 South Kingsley Drive
842 S Kingsley Dr
Koreatown, Los Angeles, CA
$155,555
831 South Gramercy Place
831 S Gramercy Pl
Mid City, Los Angeles, CA
Lot Size:0.17Acres
$253,125
3942 West 7th Street
3942 W 7th St
Mid City, Los Angeles, CA
$312,250
765 Irolo Street
765 Irolo St
Koreatown, Los Angeles, CA
~
4089 West 8th Street
4089 W 8th St
Mid City, Los Angeles, CA
$1,240,000
756 Normandie Avenue
756 S Normandie Ave
Koreatown, Los Angeles, CA
$163,166
883 Crenshaw Boulevard
883 Crenshaw Blvd
Mid City, Los Angeles, CA
$920,000
861 Fedora Street
861 Fedora St
Koreatown, Los Angeles, CA
$205,128
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Market Stats
90005 has 52 commercial real estate spaces for lease, representing 168,702 sqft space. 39 buildings are available for sale.
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