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Key Details
Sold Price $825,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW22231609
Year Built 1932
Lot Size 5,662 Sqft
Property Description
The property is a 3,026-square foot 1932 construction with two office spaces and two retail spaces on a 5,663-square foot lot with nine surface parking spaces in the rear. This is an ideal owner/user opportunity or an excellent opportunity for an investor to reposition the property and lease the spaces at market rates on favorable lease terms. Based on market comparables, we estimate the office spaces could each lease for $2,000 per month and the retail spaces for $1,500 per month, totaling $7,000 of monthly rental income.
3844 West Slauson Avenue boasts great retail visibility along a major thoroughfare with traffic volume over 29,000 cars per day, as well as strong demographics with a one-mile population of 35,000 with an average household income over $99,000. Furthermore, the property is in an area that has seen numerous major development projects recently thanks to the new LAX/Crenshaw metro line; the nearest station is just a half-mile east.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Interior
Laundry None
Building
Lot Description Rectangular Lot
Story 2
Water Public
Others
Special Listing Condition Standard
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Bought with DeVone Richard • Next Real Estate Advisor, Inc.