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The Selig Building 269-275 S Western Ave 10,348 SF 100% Leased Retail Building Los Angeles, CA 90004 $5,395,000 ($521.36/SF) 5.46% Cap Rate
Executive Summary
Iconic Retail property on the northwest corner of Western Ave. and 3rd St. The Selig building is one of the most recognizable properties in LA on an extremely heavily trafficked intersection in Koreatown. Built in 1934 and renovated extensively in 2018 with a New Roof, HVAC/Electrical/Plumbing upgrades in each unit, Facade improvements for each unit, and private restrooms in each unit. The retail landscape in LA lacks the charm of older architecturally pleasing design of buildings like this, which is big draw to prospective tenants. Rare opportunity to purchase retail/commercial in prime Koreatown.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
10,348 SF
Building Class
B
Year Built/Renovated
1931/2018
Price
$5,395,000
Price Per SF
$521.36
Cap Rate
5.46%
NOI
$294,645
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.13
Lot Size
0.21 AC
Zoning
C2, Los angeles - Building is designated as a Historical Building
Parking
2 Spaces (0.19 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Commuter Rail
- Corner Lot
- Metro/Subway
- Mezzanine
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- DBA Mail Plus
- -
- -
- -
- -
- Feb 2024
- La Petite Gardenia
- -
- -
- $39.12
- Triple Net
- Sep 2022
- Tiger Joo
- -
- -
- $38.16
- Modified Gross
- Jun 2021
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| DBA Mail Plus | - | - | - | - | Feb 2024 | |
| La Petite Gardenia | - | - | $39.12 | Triple Net | Sep 2022 | |
| Tiger Joo | - | - | $38.16 | Modified Gross | Jun 2021 |
Very walkable
80/100
Exceptionally drivable
90/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5517-001-012 | Improvements Assessment | $702,151 |
| Land Assessment | $3,133,578 | Total Assessment | $3,835,729 |
Property Taxes
Parcel Number
5517-001-012
Land Assessment
$3,133,578
Improvements Assessment
$702,151
Total Assessment
$3,835,729
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The Selig Building | 269-275 S Western Ave
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