2323 W Olympic Blvd - Freestanding FOR SALE


Los Angeles, CA 90006- Pico-Union
$26,000,000 USD
213-272-4545
2323 W Olympic Blvd, Los Angeles, CA for Sale
$26,000,000 USD
Freestanding - FOR SALE
1/6
null | Request Cap Rate

2323 W Olympic Blvd
Los Angeles, CA 90006
Pico-Union


HIGHLIGHTS

  • Entire Block of 1,653 AC = 72,002 SF Land Size , C2, C4, P1 Zone
  • W Olympic Blvd & Grand View & South Park View Intersection
  • Mixed Use Develpment Opportunity - well suited for 350 Units plus 60,000 Retail Spaces on bottom
  • A strong NNN Tenant *Northgate Market* Single Tenant occupying 19,436 SF building size

OVERVIEW

The WIN Realty & Properties Team is excited to present an amazing opportunity to add value 2323 W Olympic Blvd Los Angeles large as 1.653 AC / 72,003 SF land size, C2, C4, P1 zone. The entire block of corner intersection of W Olympic Blvd & Grand View & South Park View Street. This land can offer redevelopment opportunity on prime W Olympic Blvd connecting from K Town onto Downtown area. Great Mixed Use Development Opportunity - This location is well-suited for 350 Residential Units plus 60,000 SF Retail Spaces by Density Bonus w/TOC Tier 3 incentive. Currently, a strong Single NNN Tenant (Northgate Market Los Angeles) with 5-year lease only, NO option to renew after February 28, 2030, since March 01, 2010 as a starting point. Northgate Market occupies building size 19,436 SF consists of leases with total income of $672,000 -$702,000 next year $12K increase per year, enjoy high rental income while processing onto obtaining permits and entitlements for further develop into a large multi-story redevelopment, it sure will attract high visibility and as well as just 6-7 blocks from Crypto.com Arena in Downtown Los Angeles. A truly rare opportunity with tremendous development with a strong income portfolio to be added to your assets. Contact exclusive agents Thomas Lee & Connie Kim (213 272-4545) for the marketing flyer, and/or to discuss any other details.

FOR SALE DETAILS

PRICE

$26,000,000 USD

PRICE/SF

$1,338 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northgate Gonzalez Market

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

122

LAND DETAILS

LAND ACRES

1.65 AC

LAND SF

72,048 SF

ZONING

C4, C2, P1

APN/PARCEL ID

5136-015-027

ASK ABOUT THIS PROPERTY

Connie KimWIN Realty & PropertiesMore Info
213-272-4545

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Connie KimWIN Realty & PropertiesMore Info
213-272-4545

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.