11356 ventura blvd
PRICE
BUILDING SIZE
STUDIO CITY, CA 91604
$1,499,000
1,800 SF
LOT SIZE
3,136 SF
PRO FORMA CAP RATE
ZONING
YEAR BUILT
4.56%
C2
1940
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 4841-4843 Crenshaw Boulevard (the “Property”), two adjoining parcels totaling approximately 7,800 square feet of land improved with approximately 2-,337 square feet of storefront retail, fronting Crenshaw Boulevard at Westmount Avenue in Los Angeles. The Property is offered by an institutional lender-owner and will be delivered 100% vacant and free and clear of all tenancy.
That single fact defines the offering. The Property is fully occupied and producing income today, yet neither tenancy carries a lease term — which means a buyer, rather than a prior owner’s lease documents, determines what happens next. An owner-user can take possession of the commercial space on short notice and operate a business on one of Los Angeles’ most heavily trafficked retail corridors while the apartment income offsets carry.
The basis supports both. At the offering price of $1,499,000, the Property prices at $832.78 per building square foot — below the $873.21 per square foot average of the seven-transaction Studio City comparable set and 19.2% below the $1,030.05 per square foot average of the three Ventura Boulevard properties currently on the market.
An investor can leave the tenancies in place and reset rents that currently stand at a blended $2.22 per square foot against executed Ventura Boulevard lease comparables averaging $4.31 per square foot. Neither path requires the other to fail. This is a dual-path asset in the most literal sense available in commercial real estate: the buyer holds the rent roll, not the seller.