770 Vermont AveLos Angeles, CA 90005

Property Details for 770 Vermont Ave

Year built

1924

Property size (Sq ft)

6,671 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional owner-user opportunity presents a 6,671 square foot retail property located at 762-770 S Vermont Ave in Los Angeles, CA. The property, built in 1924 and renovated in 1990, consists of five commercial units currently operating as a convenience store, grocery store, and pharmacy/drug store. All five units are occupied with month-to-month tenants, providing flexibility for future use. The asking price is $2,500,000, representing a price per square foot of $374.76. The property boasts a current NOI of $98,931 and a pro-forma NOI of $133,435, translating to a cap rate of 3.96% and a pro-forma cap rate of 5.34%. Situated on a 5,627 square foot corner lot in the Wilshire/Koreatown Recovery Redevelopment Area, the property benefits from high visibility and traffic counts due to its location on a signalized corner with excellent frontage on Vermont Ave and W 8th St. The property is zoned LAC2 and features convenient access to the Wilshire/Vermont subway station and major freeways (CA-101, CA-110, and I-10). SBA financing is available. This prime location offers significant potential for investors and owner-users alike, given its proximity to popular Los Angeles attractions and its dynamic neighborhood. The property's single-story building is classified as Class A.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0579

Longitude

-118.291

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