304 S Kingsley Dr 4070 W 3rd St 40,816 SF 100% Leased Office Building Los Angeles, CA 90020 $10,000,000 ($245.00/SF) 6.21% Cap Rate

PROPERTY HIGHLIGHTS
Expanded Offering – property for sale includes:
• 304 S. Kingsley Dr., Los Angeles, CA 90020 or 4070 W. 3rd St., Los Angeles, CA 90020
• 310 S. Kingsley Dr., Los Angeles, CA 90020
• 311 Ardmore Ave., Los Angeles, CA 90020
Attractive Pricing: Offered at Best Offer, with seller willing to consider a conservative price below the prior asking of $15M.
Prime Koreatown Location: Situated in one of Los Angeles’ most dynamic and culturally vibrant neighborhoods, surrounded by strong residential and commercial demand drivers.
Generous Lot Size: ± 28,297 SF lot (0.65 acres) with ± 13,248 SF of existing improvements across two buildings.
Zoning & Entitlements: TOC 3 with a General Plan Amendment in process for R5-1 zoning, unlocking major redevelopment potential.
Multifamily Development Upside: Potential for up to ± 226 residential units under future R5 entitlement.
Mixed Current Use: Long-established karaoke bar and restaurant (entertainment venue) plus office space (construction/real estate office).
Flexible Investment Profile: Combines immediate income-producing operations with long-term redevelopment potential.
BUSINESS HIGHLIGHTS
Established Legacy: The karaoke bar and restaurant have been in continuous operation for over 30 years, making it one of Koreatown’s most recognizable and popular entertainment venues.
Proven Popularity: With decades of loyal patronage, the business has built a strong reputation as a go-to nightlife destination for both locals and visitors.
Turnkey Opportunity: Offered separately at $1,500,000, the business includes goodwill, furniture, fixtures, and equipment (FF&E), ensuring a smooth transition for new ownership.
Liquor License: An ABC/CUB liquor license is available to be transferred by the tenant, providing immediate revenue potential.
Secure Lease Terms: Landlord is offering a new 5-year lease with a 5-year option, supporting stability and future growth for the incoming operator.
Prime Location: Situated in Koreatown, one of Los Angeles’ most vibrant cultural and nightlife districts, the business benefits from high visibility and consistent foot traffic.