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Creative Flex Space | Future Development 5208 W Pico Blvd 3,146 SF Office Building Los Angeles, CA 90019 $2,250,000 ($715.19/SF)
INVESTMENT HIGHLIGHTS
- Month-to-month leases allow for owner-use or redevelopment. LA C4-1 zoning supports 16 units by right or 24 with TOC incentives.
- Near The Grove, Miracle Mile museums, and Mid-Wilshire, with easy access to I-10, I-405, and public transit
- Located on a well-trafficked corridor, with national retailers and ongoing neighborhood revitalization.
- Surrounded by multiple large-scale residential and mixed-use projects, enhancing area vibrancy and demand.
- $162K average household income, strong employment base, and proximity to major employers.
- With a Walk Score of 91, the property is highly accessible to surrounding neighborhood amenities.
EXECUTIVE SUMMARY
Floyd Shaheen of Floyd Group at Marcus & Millichap is please to present exclusively for sale 5208 W Pico Blvd in Los Angeles, CA. This property offers a unique investment opportunity. The building encompasses 3,146 square feet and sits on a 6,183-square-foot lot. Constructed in 1957, it features 11 creative office units complemented by two communal bathrooms. The current parking configuration accommodates nine vehicles. All existing leases are on a month-to-month basis, providing flexibility for potential owner-users or investors considering redevelopment. The zoning designation is LA C4-1, allowing for a Floor Area Ratio (FAR) of 3:1. This permits the development of 16 residential units by right or up to 24 units utilizing Transit Oriented Communities (TOC) Tier 1 incentives. Additionally, the site is eligible for ED-1 incentives, further enhancing its development potential.
Retail in the area is characterized by small shopping centers, standalone storefronts, and mixed-use developments with ground-floor retail. Businesses include a mix of local boutiques, coffee shops, fitness studios, specialty grocery stores, and fast-casual dining options, alongside national chains like Target, Sprouts, CVS, and Starbucks. The nearby Grove, Beverly Center, and Westfield Century City shopping centers further enhance retail appeal, drawing significant foot traffic and serving as major retail anchors for the region. Employment in 90019 is supported by small business owners, retail workers, healthcare professionals, and creative industry employees, with nearby employment hubs including Miracle Mile, Beverly Hills, West Hollywood, and Culver City. The presence of LACMA, the Petersen Automotive Museum, and media and entertainment firms in the area also contributes to commercial real estate demand. As a result, there is a steady need for office space, co-working spaces, and flex-use properties that cater to entrepreneurs and remote workers.
Retail in the area is characterized by small shopping centers, standalone storefronts, and mixed-use developments with ground-floor retail. Businesses include a mix of local boutiques, coffee shops, fitness studios, specialty grocery stores, and fast-casual dining options, alongside national chains like Target, Sprouts, CVS, and Starbucks. The nearby Grove, Beverly Center, and Westfield Century City shopping centers further enhance retail appeal, drawing significant foot traffic and serving as major retail anchors for the region. Employment in 90019 is supported by small business owners, retail workers, healthcare professionals, and creative industry employees, with nearby employment hubs including Miracle Mile, Beverly Hills, West Hollywood, and Culver City. The presence of LACMA, the Petersen Automotive Museum, and media and entertainment firms in the area also contributes to commercial real estate demand. As a result, there is a steady need for office space, co-working spaces, and flex-use properties that cater to entrepreneurs and remote workers.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
3,146 SF
Building Class
B
Year Built
1957
Price
$2,250,000
Price Per SF
$715.19
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
3,146 SF
Building FAR
0.49
Lot Size
0.15 AC
Zoning
LAC4 - Commercial
Parking
9 Spaces (2.86 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 5070-012-005 | Improvements Assessment | $107,577 |
| Land Assessment | $284,328 | Total Assessment | $391,905 |
PROPERTY TAXES
Parcel Number
5070-012-005
Land Assessment
$284,328
Improvements Assessment
$107,577
Total Assessment
$391,905
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Creative Flex Space | Future Development | 5208 W Pico Blvd
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