8856 Western AveLos Angeles, CA 90047

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 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.

• 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

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