8856 Western AveLos Angeles, CA 90047
- Retail properties
- 5,032 SF
Property Details for 8856 Western Ave
- Year built
- 1946
- Construction
- WOOD
- Lot size
- 0.14 AC
- Property size (Sq ft)
- 5,032 SF
- Zone code
- LAC2
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 6037-024-051
- APU
- 6037024051
Description
This exceptional retail storefront, located at 8856 S Western Ave, Los Angeles, CA 90047, presents a compelling investment opportunity. The 5,032 square foot building, constructed in 1946, sits on a 6,001 square foot lot and is currently 100% occupied under a single-tenant, Absolute NNN lease with one year remaining. The property is zoned for Retail Mixed Use and boasts a prime location across from Bank of America and Superior Market, approximately one mile from SoFi Stadium and Hollywood Park. The asking price is $1,295,000, translating to $257.35 per square foot. The building features two entrances (one on Western Avenue and one from the alley), ample rear parking, and an additional 700 square foot structure currently leased to Sprint Mobile for $1,700 per month. While currently used as warehouse space with separate showrooms, the versatile layout is suitable for various warehouse/showroom businesses. The main building also includes approximately 450 square feet of living quarters with one bedroom, kitchen, and two bathrooms. This property is ideal for a 1031 exchange. The Los Angeles County Assessor's Parcel Number (APN) is 6037-024-051. The building is classified as Class B. No tenant credit rating is available.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,143,217
- 6.5%
- $1,978,354
- 7%
- $1,837,043
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,411,350
- Geo Method
- $2,411,350
-
Alternative Use
- Use
- Valuation
- Residential
- $1,668,816
- Hospitality
- $1,528,626
- Educational
- $1,271,799
- Medical
- $1,315,538
- Retail
- $1,978,354
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 33.9569
- Longitude
- -118.309
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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