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3617 exposition blvd

LOS ANGELES, CA 90018

PRICE

$7,900,000

BUILDING SIZE

13,661 SF

CAP RATE

3.22%

PRICE/SF

(BLDG)

$578

LOT SIZE

17,557 SF

PRICE/SF

(LAND)

$450

The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 3617 Exposition Boulevard, a 13,661 square foot flex/creative office property situated on 0.40 acres of land (17,557 SF) one parcel west of the NW intersection of Exposition Boulevard & Crenshaw Boulevard in the West Adams submarket of Los Angeles, CA. Seller financing is available at a favorable rate and terms. Please contact the listing agent to discuss.

3617 Exposition Boulevard is ideally positioned for an owner-user or value-add buyer looking for a flex/creative office building in West Adams. The property is currently 100% occupied by an architectural firm with a lease expiring 8/31/2024 and no remaining options to extend. The property is divided into two (2) units permitting an owner-user buyer the flexibility to occupy a portion or all the property or a value-add investor the opportunity to re-tenant the space with a market-rate tenant. The current tenant is paying a rent of $1.55/SF per month (or $21,218.00 monthly) on a triple net (NNN) lease. 

The property is uniquely suited for a variety of uses. The site is wholly enclosed by a perimeter fence providing a secure compound feel and is equipped with two ground level roll up doors, currently offering access to outdoor side patios on the east and west portions of the property. Although the property is zoned C2, it has a variance to allow for light manufacturing uses.

3617 Exposition Boulevard is situated in the Crenshaw Corridor Specific Plan zoned C2-2D-SP with a Tier 4 TOC (“Transit Oriented Communities”) designation. Potential multifamily redevelopment of the property would be permitted 48 units by-right, up to 87 units using the 80% density bonus from the TOC. The property is also eligible for a 100% affordable housing development using Executive Directive 1’s (ED1) expedited approvals process.

OFFERING MEMORANDUM

BRANDON MICHAELS
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

MATTHEW LUCHS

(818) 212-2727

matthew.luchs@marcusmillichap.com
License # 01948233

STEVEN SCHECHTER

(818) 212-2793

steven.schechter@marcusmillichap.com
License # 01089464

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