1459 Washington BlvdLos Angeles, CA 90007
- Retail properties
- 798 SF
Property Details for 1459 Washington Blvd
- Year built
- 1939
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.16 AC
- Property size (Sq ft)
- 798 SF
- Zone code
- LAC2
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 5056-016-012
- APU
- 5056016012
Description
This exceptional redevelopment opportunity presents two buildings totaling 7,362 square feet situated on a substantial 21,014 square foot lot in the heart of Los Angeles, CA. Located at 1459 & 1479 W Washington Blvd, this property boasts a prime location near the intersection of W Washington Blvd and Orchard Ave, offering convenient access to downtown Los Angeles and the University of Southern California (USC). The buildings, constructed in 1919 and 1939, currently operate as multi-tenant retail space with short-term leases, presenting a unique chance for significant value enhancement. The land value is assessed at $236 per square foot, reflecting the desirability of this location. The property's address is 1459 & 1479 W Washington Blvd, Los Angeles, CA 90007, and its convenient location provides direct access to the Santa Monica (10) Freeway via Vermont Avenue. With a population of over 648,925 residents within a 3-mile radius, this property offers substantial potential for multi-family, commercial, or mixed-use development. The asking price is $4,950,000. The property consists of two buildings and includes four APNs: 5056-016-009, -010, -011, & -012. This is a rare chance to acquire a significant property in a high-growth area of Los Angeles.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $339,882
- 6.5%
- $313,737
- 7%
- $291,328
-
Comparable approach
- Method
- Valuation
- Relative Method
- $382,404
- Geo Method
- $382,404
-
Alternative Use
- Use
- Valuation
- Residential
- $264,649
- Hospitality
- $242,417
- Educational
- $201,688
- Medical
- $208,625
- Retail
- $313,737
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0403
- Longitude
- -118.288
- 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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