OFFERING MEMORANDUM | $1,415,000
W Pico Blvd
3811 W PICO BLVD. LOS ANGELES, CA 90019
VALUE ADDED MULTI-TENANT BUILDING MTM TENANCY - IDEAL USER BUILDING 3811 W PICO BLVD LOS ANGELES, CA
2,478 Square Foot Retail Building Hudson Commercial Partners is pleased to present a restaurant/retail 5,045 Square Fool Lot repositioning and/or owner-user opportunity in Los Angeles.
POLICE SUBJECT PROPERTY W Pico Blvd
Venice Blvd
W Washington Blvd
S Crenshaw Blvd
2 - HUDSON COMMERCIAL PARTNERS, INC. HUDSON COMMERCIAL PARTNERS, INC. - 3 INVESTMENT SUMMARY Hudson Partners is pleased to present 3811 W. Pico Blvd., a 3-unit retail building with immediate upside located in a rapidly transitioning commercial corridor of central Los Angeles, with close proximity to Koreatown and the West Side.
2 of the 3 tenants are restaurants and all tenants are on a month-to-month basis with below-market rents, thereby presenting an opportunity for an investor to reposition the asset with market rents or for a restaurant (or other) owner-user to occupy at least 50% of the space and obtain up to 90% SBA financing.
With 58 feet of frontage on Pico Blvd. in the Park Mile submarket of L.A., the property is situated in a historical neighborhood that’s being rejuvenated by independent businesses such as Catch One, a two-story nightclub with DJ’s and live music, The Grain Café, and a variety of ethnic restaurants in one of the most densely populated sections of the city.
The property has a spacious parking area in the rear which is temporarily occupied by a neighboring property.
4 - HUDSON COMMERCIAL PARTNERS, INC. site description
DESCRIPTION SPECIFICATION SPECIFICATIONS
PRICE $1,415,000 CONSTRUCTION TYPE Wood-Frame Stucco
BUILDING SIZE 2,478 SF HVAC Package Units PARCEL AREA 5,045 SF LEASE TYPE Modified Gross APN 5081-008-013
FLOOR-TO-AREA RATIO 0.49 LEASE TERM Month-to-Month
ZONING C4-1-0 MONTHLY GROSS $2,890
PARKING TBD CEILING HEIGHT TBD YEAR BUILT 1940
METERS Separately Metered FINANCING SBA or Conventional
DOWNPAYMENT 10% - 20% OCCUPANCY 100%
INTEREST RATE 4.5% - 5% CERTIFICATE OF OCCUPANCY Retail/Restaurant RENT ROLL TENANCY Multi-Tenant UNIT MONTHLY SF PSF
La Cevicheria Restaurant $830 826 $1.00 TRAFFIC COUNT ±22,000
Puerto La Union Restaurant $810 826 $0.98 FRONTAGE 29 Feet on Pico Boulevard
Gnostic Teaching $1,250 826 $1.51 LOT DIMENSIONS 29’ x 115.5’ x 107’
HUDSON COMMERCIAL PARTNERS, INC. - 5 PLAT MAP
6 - HUDSON COMMERCIAL PARTNERS, INC. AERIAL
42’
5,045 SF 126’
LOT 107’
5th St
43.58’
RESTAURANT / RETAIL BUILDING 3811 W PICO BLVD., LOS ANGELES, CA 90019
HUDSON COMMERCIAL PARTNERS, INC. - 7 8 - HUDSON COMMERCIAL PARTNERS, INC. HUDSON COMMERCIAL PARTNERS, INC. - 9 DARIN SPILLMAN CONTACT President C: 310.592.8269 11846 Ventura Blvd.Suite 140 P: 818.699.1605 Studio City, CA 91604 F: 818.688.8140
Cal BRE: 01366902 E: [email protected] www.hudsonpartnersinc.com
JAY MARTINEZ CONTACT Managing Principal C: 310.658.3357 11846 Ventura Blvd.Suite 140 P: 818.699.1603 Studio City, CA 91604 F: 818.688.8140
Cal BRE: 01367663 E: [email protected] www.hudsonpartnersinc.com