990 Vine St
Los Angeles, CA 90038
Land For Sale · 0.83 AC

Marcus & Millichap is proud to present 990 Vine Street a Mixed-Use land investment opportunity in Los Angeles, California. The property consists of a Enterprise Rental Car and Ken' s Collision Auto Body Repair Shop on a 16,836-square foot lot, with the gross leasable building totaling just 3,352-square feet. Currently there are two Retail tenants, Enterprise Rent-a-Car has a NNN lease that expires in October of 2017, with no option to renew. Ken' s Collision has a Modified Gross lease that is Month-to-Month. In addition there is monthly income from the Billboard. A developer will have supplemental net income during entitlements of $263,198 annually. These parcels are not tied together by a covenant, a Developer could sell off any parcels as entitled or un-entitled land at their discretion. The portfolio also includes a 3 Lot Residential land investment opportunity in Los Angeles, California. The property consists of a SFR adjacent to a Vacant Lot on Romaine St and a Triplex one Block South on Barton Ave. Total assemblage is 19,505-square feet, with the gross leasable totaling just 2,064-square feet. This property is located in a prime area surrounded in all directions by a rapidly expanding Hollywood via the Community Plan Update. The most recent square footage to come online; The Hampton Inn Suites a $15 Million dollar boutique Hotel project. Also nearby is the 101 FWY, the W Hotel, Metro Red Line at Hollywood Blvd & Vine St. and the last major film studio left in Hollywood, Paramount Pictures. This property presents a great investment opportunity in a densely populated area that has seen tremendous growth in recent years. In addition to The Academy-Kilroy, Cal-Coast Project, AvalonBay, CIM, Paramount Studio' s and Onni developments there are several other substantial revitalization projects in and around this thriving area. Roughly 2 Billion in development projects over 3-4 years are coming online, under construction or planned within a ten block radius!