4601 Olympic BlvdEast Los Angeles, CA 90022
- Retail properties
- 1,446 SF
Property Details for 4601 Olympic Blvd
- Year built
- 1922
- Construction
- WOOD
- Lot size
- 0.04 AC
- Property size (Sq ft)
- 1,446 SF
- Zone code
- LCM1*
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 5246-007-038
- APU
- 5246007038
Description
This exceptional mixed-use investment opportunity encompasses two parcels at 4601 and 4611 E. Olympic Blvd, East Los Angeles, CA 90022. The combined 8,858 square foot property features five buildings on a single story, totaling seven units with three retail pads. Currently boasting 100% occupancy (as of March 23, 2023) with month-to-month leases, this value-add redevelopment opportunity presents a strong net lease cash flow of $90,263, resulting in a 5.01% cap rate. The asking price is $1,799,900 ($203.19/sq ft and $257,128.57/unit). The property includes three retail units and an open-air lot at 4601 E. Olympic Blvd, generating additional income from a billboard. 4611 E. Olympic Blvd features two 2-bedroom, 1-bathroom residential units and a bakery. Both properties benefit from high visibility on a high-traffic street, excellent freeway access (710/60), and proximity to Downtown Los Angeles. The permitted zoning is LCM1. This is a 1031 exchange eligible property. The combined APN is 5246007038/5246007036. Built in 1922, this property offers significant potential for future development and increased revenue.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $610,662
- 6.5%
- $563,688
- 7%
- $523,424
-
Comparable approach
- Method
- Valuation
- Relative Method
- $692,928
- Geo Method
- $692,928
-
Alternative Use
- Use
- Valuation
- Residential
- $475,492
- Hospitality
- $435,548
- Educational
- $362,371
- Medical
- $374,833
- Retail
- $563,688
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0191
- Longitude
- -118.171
- 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
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