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

This offering presents a unique opportunity to acquire a well-located commercial asset with both immediate usability and long-term upside in one of Los Angeles’ most dynamic infill corridors.
The existing ±13,000 SF building is fully occupied by a combination of owner-user office space and a long-standing restaurant and karaoke tenant, providing a blend of stability and flexibility. Ownership can accommodate a sale with flexibility for future occupancy, making the property well-suited for an owner-user seeking to establish a presence in a high-demand location.
The ±28,300 SF site spans three parcels with multiple zoning designations (C2-1, CR-1, and R1-1), creating a compelling opportunity for future repositioning or redevelopment. The inclusion of a dedicated parking parcel significantly enhances both current operations and future site planning potential—an increasingly rare feature in this submarket.
Located along the W. 3rd Street corridor, the property benefits from strong surrounding demographics, high traffic counts, and proximity to Koreatown, Hancock Park, and major transportation routes.
This is an ideal acquisition for:
Owner-users seeking immediate functionality with long-term control of a valuable land position
Investors looking for stable in-place income with future upside
Developers pursuing an infill site with potential for mixed-use or residential density (buyer to verify)
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
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.