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646 N Western Ave 5,836 SF 100% Leased Retail Building Los Angeles, CA 90004 $3,700,000 ($634.00/SF)
Investment Highlights
- Trendy two (2) story Melrose Hill - Arts Corridor commercial building in a prime location on Western at Melrose.
- High end art district Galleries; David Zwirner, Moran Moran, Unrepd, Faun, Chateau Shatto, Wilding Cran, The Brick, Wubby, James Fuentes and Fernberge
- Ideal for a Restaurant conversion or Owner-User Gallery.
- Convenient access to public transit and major freeways (101, 110).
Executive Summary
First time for sale in 30+ years. SEC Melrose Ave and Western Ave.
Property to be delivered vacant at the close of escrow.
Buyer may obtain financing at current market rate and terms.
Property to be delivered vacant at the close of escrow.
Buyer may obtain financing at current market rate and terms.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Building Size
5,836 SF
Building Class
B
Year Built/Renovated
1922/2017
Price
$3,700,000
Price Per SF
$634.00
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.55
Lot Size
0.09 AC
Zoning
LAC2 - Commercial - C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Uses
Very walkable
80/100
Exceptionally drivable
100/100
Strong public transit
80/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5521-001-003 | Improvements Assessment | $362,411 |
| Land Assessment | $1,672,692 | Total Assessment | $2,035,103 |
Property Taxes
Parcel Number
5521-001-003
Land Assessment
$1,672,692
Improvements Assessment
$362,411
Total Assessment
$2,035,103
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646 N Western Ave
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