1001 N Vermont Ave 9,127 SF Retail Building Los Angeles, CA 90029 $4,815,924 CAD ($527.66 CAD/SF)

*Disclosure: Receivership sale, subject to court approval. For additional information, please contact listing team.
CBRE has been retained by Ownership as the exclusive marketing adviser for 1001 N Vermont Ave, Los Angeles, CA 90029 (“the Property”). Situated on a ±10,385 SF lot (0.24 acres), the Property encompasses 2 floors totaling ±9,127 SF of retail space currently configured as a grocery store. Conveniently located at the Vermont / Santa Monica Metro Station on the Red line in East Hollywood, the Property sits between Los Angeles City College and a newly delivered 187-unit multi-family development. The Property offers an incredibly opportunity for an owner-user or developer.
The East Hollywood neighborhood of Los Angeles has a population of more than 78,000 residents and is characterized by a high concentration of multi-family and mixed-use developments. There are currently over 1,200 new apartment units under construction and the submarket’s multi-family vacancy sits at ~5%. Los Angeles Community College has over 13,000 students, of which 2,687 are full-time. The area is seeing increased investment from developers, both public and private, suggesting confidence in the market’s continued growth. East Hollywood’s close proximity to the up-scale Silverlake neighborhood gives it immediate access to some of Los Angele‘s best amenities.
Located in a Transit Oriented Communities (TOC) Tier-4 Zone and with C2 zoning, the Property lends itself well to a wide array of potential development uses. Neighboring properties received increases in building FAR up to 4.5:1 (to be confirmed by Buyer).