8612 S BROADWAY Los Angeles, CA 90003
Michael Major Senior Pastor 8612 South Broadway Los Angeles, CA 90003 Direct: 727.851.5483
8612 S BROADWAY
INVESTMENT OVERVIEW
8612 S BROADWAY
PROPERTY PHOTO
8612 S BROADWAY
PROPERTY PHOTO
8612 S BROADWAY
PROPERTY OVERVIEW
PROPERTY OVERVIEW 8612 South Broadway in Los Angeles, California. This sale offers the opportunity to purchase a functional and beautiful venue completely remolded from roof to floor in Southern Los Angeles.
The subject property, originally constructed as a theatre, is comprised of a two story building that is currently used as a church. The building footprint measures 4,998 square feet and the second story is approximately 3,402 square feet, which gives the property a total of 8,400 square feet of improved building area. The principal space of the building is light and open providing for excellent visibility of the elevated stage at the rear of the building. The space can comfortably sit 350+ people and is approved for 619 people. In addition to the stage and seating area, the downstairs also has an office buildout of approximately 1,200 square feet. The upstairs has been built out with an open gathering space, offices, a kitchen, restrooms and utility rooms.
Parking is by way of agreement for two adjacent parking lots which are owned by the city of Los Angeles. The agreement has been in place for over 20 years and does not cost anything; the owner of the property must renew the agreement every two years. The two parking lots are paved, fenced and provide for approximately 100 parking spaces.
Located at Broadway and Manchester Avenue, the property is centrally located in Los Angeles County and is immediately adjacent to a freeway access point.
The subject property is ideal for those looking for a functional venue with a lot of character. For those interested in using the property as a church, current use permits are in- place and will remain with the property upon transfer. The property is also well suited to be used as a banquet hall, performing arts center, reception area, theatre, as well as many other uses.
8612 South Broadway offers the opportunity to purchase a functional and unique venue with excellent access in Southern Los Angeles.
Priced at $1,800,000
PROPERTY OVERVIEW
Los Angeles Venue Comfortably Seat 350 People – Permitted for 619 People Many Unique Spaces Throughout the Building Great Parking Freeway Adjacent – Less Than ¼ Mile to the 110 Freeway
8612 S BROADWAY
REGIONAL MAP
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8612 S BROADWAY
LOCAL MAP
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AERIAL PHOTO
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MARKET OVERVIEW
SOUTH BAY-LONG BEACH
OVERVIEW
The South Bay-Long Beach area of southwestern Los Angeles County contains 21 miles of coastline between Long Beach and El Segundo and METRO HIGHLIGHTS includes Los Angeles International Airport, the Port of Los Angeles and the Port of Long Beach. The region boasts a population of approximately PORT ACTIVITY 1.3 Million and is projected to add roughly 7,300 residents through 2022. The ports of Los Angeles and Long Beach are the two busiest ports in the nation, High home values allow just half of households to afford to own their underpinning employment in the trade, transportation and utilities sector.
home, generating a large rental market. EDUCATED LABOR POOL
High educational attainment supports hiring in the business services and healthcare sectors. Roughly 23 percent of residents age 25 and older hold a bachelor’s degree.
STRATEGIC LOCATION Los Angeles International Airport and two port facilities provide an ideal location for e- commerce and logistics companies.
ECONOMY ▪ The area’s economy historically relied on the aerospace industry and defense-related technologies, including companies such as Boeing, Honeywell Aerospace and Raytheon. ▪ Widespread diversification in recent years has produced a large contingent of professional and business services firms and corporate headquarters. Significant operations are held by American Honda Motor Co., BP, Snapchat and Mattel. ▪ A growing population base and public healthcare have supported growth in the education and healthcare sector thanks to both public and private employers.
DEMOGRAPHICS
2017 2017 2017 2017 MEDIAN POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME: 1.3M 487K 38.1 $70,000 Growth Growth U.S. Median: U.S. Median: 2017-2022*: 2017-2022*: 0.5% 2% 37.8 $56,300
8612 S BROADWAY
DEMOGRAPHICS
Population Race and Ethnicity In 2017, the population in your selected geography is 66,644. The The current year racial makeup of your selected area is as follows: population has changed by 15.25% since 2000. It is estimated that the 28.59% White, 26.49% Black, 0.08% Native American and 0.22% population in your area will be 66,432.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: represents a change of -0.32% from the current year. The current 70.42% White, 12.85% Black, 0.19% Native American and 5.53% population is 48.91% male and 51.09% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted population in your area is 27.55, compare this to the US average independently of race. which is 37.83. The population density in your area is 21,210.69 people per square mile. People of Hispanic origin make up 72.48% of the current year population in your selected area. Compare this to the US average of 17.88%.
Households Housing There are currently 16,778 households in your selected geography. The median housing value in your area was $328,528 in 2017, The number of households has changed by 11.11% since 2000. It is Compare this to the US average of $193,953. In 2000, there were estimated that the number of households in your area will be 17,209 4,369 owner occupied housing units in your area and there were 10,732 five years from now, which represents a change of 2.57% from the renter occupied housing units in your area. The median rent at the time current year. The average household size in your area is 3.85 was $498. persons.
Income Employment In 2017, the median household income for your selected geography is In 2017, there are 7,360 employees in your selected area, this is also $29,944, compare this to the US average which is currently $56,286. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 50.11% 34.77% of employees are employed in white-collar occupations in this since 2000. It is estimated that the median household income in your geography, and 65.47% are employed in blue-collar occupations. In area will be $32,546 five years from now, which represents a change 2017, unemployment in this area is 6.22%. In 2000, the average time of 8.69% from the current year. traveled to work was 37.00 minutes.
The current year per capita income in your area is $10,310, compare this to the US average, which is $30,982. The current year average household income in your area is $40,555, compare this to the US average which is $81,217.
Source: © 2017 Experian
8612 S BROADWAY
8 DEMOGRAPHICS