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$ 899,000
Est. payment /mo
Active Under Contract
5400 S Broadway Los Angeles, CA 90037
6,525 Sqft Lot
UPDATED:
12/19/2024 08:37 PM
Key Details
Property Type Commercial
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 23325229
HOA Y/N No
Year Built 1935
Lot Size 6,525 Sqft
Lot Dimensions Assessor
Property Description
REDUCED To Sell! We are proud to exclusively present for sale a free-standing Retail Property with Development Potential, perfect for owner-user, investor, or developer! This prime retail property is situated on a signalized corner on Broadway at 54th Street. The property benefits from tremendous visibility, featuring 50 feet of frontage on Broadway and 130 feet on 54th St. The property is currently owner-occupied and will be delivered vacant at the close of escrow. The property is currently operating as a Marijuana Dispensary. The site is perfectly suited for an Owner-User and seems well situated for the possibility of housing a Marijuana Dispensary or other Marijuana Use. The property's generous parking provisions is comprised of 9 side-by-side parking spaces, (including one accessible space) as well as a tandem space that can accommodate up to 3 vehicles. The owner has invested in significant capital improvements as the property has undergone thoughtful updates over the years, including the installation of newer windows, electrical system enhancements, and a completely paid-off Solar Panel System. The C2-1VL- CPIO Tier 2 zoning designation and is ED1 Eligible allows for potential development of up to 28 +/- Units, which would translate to just around $32K per door, making the site perfect for Low Income Housing. The property has easy access to the 110 freeway, a Very Walkable designation by Walk Score and lots of restaurants and retail in the area. The building features roll-down doors, protected windows and gated parking, ensuring both safety and convenience for its future occupants.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning C2-1VL-CPIO Tier 2
Interior
Fireplace No
Exterior
Roof Type Other
Total Parking Spaces 9
Building
Story 1
Others
Tax ID 5101032030
Special Listing Condition Standard
Listed by Jonathan Tran • Keller Williams Beverly Hills
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