For Sale
$250,000

460 Gage AveLos Angeles, CA 90063

High-traffic corner, value-add potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This multi-tenant retail storefront at 460 N Gage Ave, Los Angeles, CA 90063, offers a compelling value-add opportunity. The 3,576 square foot property, built in 1929 and renovated in 2018, sits on a 0.09-acre lot and is currently 66% occupied across three units with short-term leases. The asking price is $250,000, representing a fee simple ownership. Located on a high-traffic corner, the property benefits from excellent visibility and accessibility, with over 12,000 vehicles passing daily. Its proximity to Cesar E Chavez Avenue, major freeways (5, 10, 710, and 60), and public transportation ensures strong connectivity. The surrounding area boasts a vibrant retail corridor, numerous educational institutions (including Cal State LA and USC Health Sciences Campus), and a large, diverse population with significant consumer spending exceeding $1.2 billion in 2023. The property's zoning is LLC2. This presents a chance to increase revenue by leasing the vacant space and aligning rents with market rates, capitalizing on the area's 3.1% average annual rent growth over the past three years. The property's strong location and potential for increased occupancy make it an attractive investment for those seeking value-add opportunities in a thriving Los Angeles neighborhood. The APN is 5233-001-014.

Highlights

  • Multi-tenant retail building with a hard-corner location in East LA, currently 66% occupied with short-term leases.
  • Excellent location two blocks from the Cesar Chavez Avenue retail corridor, boasting high traffic and established businesses.
  • Close proximity (within 2 miles) to Cal State LA, USC Health Sciences Campus, and Monterey Park Golf Club.
  • Strategic access to major freeways (5, 10, 710, and 60) and public transportation (Metrolink and Gold Line).

Property Details for 460 Gage Ave

Property type
Retail properties, Retail space
Square Feet
3,576 SF
Class
C
Year Built/Renovated
1929/2018
Buildings
1
Lot Size (sq. ft)
3,920 SF
Units
3

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0421818
Longitude
-118.1844396
460 Gage Ave, Los Angeles, California

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460 Gage Ave
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