8016 3Rd StLos Angeles, CA 90048

Property Details for 8016 3Rd St

Year built

1946

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

2,701 SF

Zone code

LAC2

Property type

Retail properties

Property subtype

Turn key restaurants

APN

5511-028-027

APU

5511028027

Description

This exceptional retail or restaurant space, located at 8016 West Third Street in Los Angeles, California, presents a unique investment opportunity. The property, built in 1946 and extensively renovated in 2018, offers a total of 4,325 square feet across two suites. Currently, 2,400 square feet are available for lease, divisible into spaces ranging from 475 to 1,925 contiguous square feet, making it ideal for a variety of businesses. The property boasts a highly desirable location on West 3rd Street, between La Cienega and Fairfax, placing it within a vibrant and bustling commercial district. The building offers shared parking with four spaces located in the rear. This is a chance to establish a presence in one of Los Angeles' most sought-after retail corridors. The property's recent renovation ensures modern amenities and a move-in ready condition. The flexible space allows for customization to suit individual business needs. With its prime location and adaptable layout, this property is perfectly positioned for success. The zip code is 90048, and the property is situated in Los Angeles County.

• CAP approach

  CAP return

  Valuation

  6%

  $1,150,403

  6.5%

  $1,061,911

  7%

  $986,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,294,328

  Geo Method

  $1,294,328

• Alternative Use

  Use

  Valuation

  Residential

  $895,762

  Hospitality

  $820,513

  Educational

  $682,657

  Medical

  $706,135

  Retail

  $1,061,911

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0717

Longitude

-118.364

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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