2618 W Martin Luther King Jr Blvd - Freestanding FOR SALE


Los Angeles, CA 90008
$950,000 USD
213-225-7223
2618 W Martin Luther King Jr Blvd, Los Angeles, CA for Sale
$950,000 USD
Freestanding - FOR SALE
1/6
null | Request Cap Rate

2618 W Martin Luther King Jr Blvd
Los Angeles, CA 90008


HIGHLIGHTS

  • Development Potential: C2 Zoned with potential for 100% Affordable Housing
  • Location: Corner property with alley located in Leimert Park

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$1,010 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Significant Price Reduction - Leimert Park

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,908 SF

ZONING

LAC2

APN/PARCEL ID

5023-023-018

ASK ABOUT THIS PROPERTY

Casey LinsKidder MathewsMore Info
213-225-7223

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Casey LinsKidder MathewsMore Info
213-225-7223

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