5630 Melrose Avenue

  • For Sale $6,950,000
  • Los Angeles, CA 90038
  • Retail/Office/Residential | 10,320 SF

Description

Westmac Commercial Brokerage Company has been selected to exclusively market for sale 5630 Melrose Avenue, a pride of ownership mixed-use retail, office and residential building located on the irreplaceable hard corner of Larchmont Blvd and Melrose Ave. Surrounded by mixed-use developments and other notable establishments such as Café Gratitude, Lemonade, Rios Clementi Hale Studios, Le Petit March, and Lucy’s El Adobe,, 5630 Melrose Ave benefits from its highly visible location on the northern end of Larchmont. Moreover, it’s just a couple blocks north of Larchmont Village, one of the few walkable and pedestrian friendly streets in Los Angeles.

5630 Melrose Ave is comprised of ±10,320 gross square feet of building, although it feels like more especially on the second floor, situated on ±11,195 square feet of land, zoned [Q]CS-1VL. The property derives income from 9 tenants total, with staggered leases, as well as two billboards which sit on top of the property and are leased to Clear Channel.

This investment presents the forward looking investor a true Value added opportunity. By the close of escrow Buyers will have the opportunity to either raise rents or re-tenant four of the spaces to market value. To the building’s advantage it contains smaller sized retail spaces with nice high ceilings on the ground floor which are much easier to lease in general. Upstairs the savvy investor will find a ton of potential either by eventually opening it all up in to one space, or renovating the vacant owners unit and adding an outside deck in order to capture aggressive rents.

Details

  • Offer For Sale
  • Property Type Retail/Office/Residential
  • Building Size 10,320 SF
  • Land Size 11,195 SF
  • Zoning [Q]C2-1VL
  • Year Built 1925
  • Parking Approximately seven [±7] spaces
  • APN 5523-013-001

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Address

5630 Melrose Avenue
Los Angeles, CA 90038
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