For Sale
Call for price

450 Western AveLos Angeles, CA 90020

Grocery-anchored retail in LA's Koreatown

Overview

Added:
Dec 11, 2024
Days on market:
114
This distressed, fee-simple shopping center in Los Angeles' Koreatown offers a compelling value-add opportunity. The 83,427 square foot property, built in 2016, boasts an 80.8% occupancy rate and is anchored by a grocery store operating since the center's inception. Located at a high-traffic intersection on Western Avenue and 5th Street, the center benefits from a dense population base of over 612,000 residents and 278,000 employees within a three-mile radius. Further enhancing its appeal, over 6,500 residential units are slated for delivery within the next two years. The three-level center features a diverse mix of retail, banking, specialty, and restaurant tenants, along with ample parking (400 spaces) in a five-story structure—a rarity in the area. The property includes multiple elevators and escalator systems for convenient access. This infill location presents a unique and irreplaceable asset with significant upside potential. Sale is subject to Bankruptcy Court approval, and prospective bidders must adhere to Court-approved Bidding Procedures. The 1.67-acre lot offers a strong foundation for future growth and development. This is a multi-tenant property with a strong existing tenant base and a proven track record. The high-quality construction and prime location make this a truly exceptional investment opportunity.

Highlights

  • Infill Los Angeles Koreatown shopping center, grocery-anchored.
  • High-traffic intersection of Western Ave & 5th St, dense population & employment base.
  • High-quality, 83,427 SF, three-level building with 400 parking spaces; built 2016, 80.8% occupancy.
  • Significant upside potential; subject to Bankruptcy Court approval.

Property Details for 450 Western Ave

Property type
Lifestyle centers, Power centers
Square Feet
83,427 SF
Year Built
2016
Lot Size (sq. ft)
72,745 SF

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.065804311801
Longitude
-118.30789095123
450 Western Ave, Los Angeles, California

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450 Western Ave
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