Property Detail

Description

The asking price is the minimum starting bid amount. Claim a top spot in Los Angeles' vibrant Koreatown neighborhood with the versatile collection of commercial properties at 3072-3084 W Pico Boulevard. Offering contiguous storefronts with a high-traffic corner location, this rare opportunity provides diverse upside potential to rehabilitate and lease the remaining vacancies or create a dream redevelopment project in a superior urban location. This rare offer is being offered at a significant discount to the replacement, making this a can't-miss acquisition for savvy investors and developers. The properties span a total of 23,848 square feet across several buildings, including a historic corner property that adds prestige to this unique assemblage. The buildings sit on adjoining lots totaling 0.54 acres with flexible C2 zoning, providing varied opportunities for a range of retail and residential applications. Situated at the corner of the signalized intersection of W Pico and S Western Avenue, 3072-3084 W Pico Boulevard benefits from exceptional visibility to more than 42,000 daily vehicles. Additionally, Interstate 10 is reachable in less than a mile, as well as the Wilshire/Western Metro Station, providing seamless connectivity across the greater region. The property sits along an existing retail corridor that provides a wealth of boutique shops, popular restaurants, and a wide range of service-based amenities, all within walking distance. Additionally, the site is just minutes from major area hotspots such as Downtown Los Angeles, the Convention Center, and the Crypto.com Arena, enhancing appeal with quick access to world-class urban amenities. Koreatown provides a valuable destination for new business and investment, with a stable population and economic growth in recent years. The area attracts higher-income residents with new upscale apartment communities and diverse dining, entertainment, and cultural options. Currently, more than 78,000 residents live within 1 mile of 3072-3084 W Pico Boulevard, producing annual consumer spending of more than $709 million. These affluent locals provide strong support for both retail and residential sectors, ensuring long-term growth potential for a new owner. Sold AS IS and WHERE IS, with all faults, and without warranty, express or implied and with current tenants in place. Don't miss out on this versatile investment opportunity that blends a historic identity with unmatched value-add potential in Los Angeles at 3072-3084 W Pico Boulevard.