Koreatown Flex Building For
For Sale
$2,500,000
2990 W pico Boulevard, Los Angeles, CA 90006
Flex building in Koreatown, suitable for various business uses.
Property Size4,908 SF
Price / SF$509.37
Days on Market501
Property Features for 2990 W pico Boulevard
General Information
Standard status
Active
Size
4,908 SF
Listing Agency:
KELLER WILLIAMS REALTY
Listed By:
LAWRENCE CHANG
Source:
Corcoran
Added: Jun 4, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS REALTY
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Investment Insights
Based on property information with market context.
This flex building is located in Koreatown, Los Angeles. The property is equipped with high voltage (440 V), a roll-up shutter, and an automatic security door. The well-maintained building is suitable for mixed-use, including warehouse, retail booth, medical offices, legal practices, CPA firms, or any business requiring showroom and storage space. The property has a month-to-month tenant who can vacate on short notice. The building has a total size of 4908 square feet.
Key Highlights
- High Voltage (440 V) Power Supply - suitable for various industrial or commercial uses.
- Prime Location in Koreatown (Pico Western) - offers high visibility and accessibility.
- Flexible Use Building - ideal for warehouse, retail, medical offices, legal practices, CPA firms, or businesses needing showroom and storage space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,497
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,329,940
$2.3M
Cap Rate 7%
$1,664,243
$1.7M
Cap Rate 9%
$1,294,411
$1.3M
Market Conditions
NOI Build-Up for 4,908 SF
Gross rent
$190.8K $38.88/SF
− Vacancy
−$35.5K −$7.23/SF
EGI
$155.3K $31.65/SF
− OpEx
−$38.8K −$7.91/SF
NOI
$116.5K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,329,940
Cap Rate 7%
$1,664,243
Cap Rate 9%
$1,294,411
Alternative Uses
Best Use
Office B
$1.66M
$1.46M – $1.94M
NOI $116,497 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$1.63M
$1.42M – $1.90M
NOI $113,901 @ 7.0% cap · market cap 4.56%
Theoretical Best
Multifamily LT 5
$99.43M
$87.00M – $116.01M
NOI $6,960,319 @ 7.0% cap · market cap 278.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,030
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90006, CA
58,229
Population
21,475
Households
2.7
Avg Household Size
36
Median Age
22%
College-Educated
63%
High-School Grad
1.9 sq mi
ZIP Area
30,647
Density / Sq Mi
$49,847
Median Household Income
$31,645
Median Earnings
$1,396
Median Rent
$841,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex building in Koreatown, suitable for various business uses.
Where is this flex space located?
The property is located at 2990 W pico Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: High Voltage (440 V) Power Supply - suitable for various industrial or commercial uses.; Prime Location in Koreatown (Pico Western) - offers high visibility and accessibility.; Flexible Use Building - ideal for warehouse, retail, medical offices, legal practices, CPA firms, or businesses needing showroom and storage space.
