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Prime Redev or Rehab Opportunity | Koreatown 3072-3084 W Pico Blvd 23,848 SF Retail Building Online Auction Sale Los Angeles, CA 90006
INVESTMENT HIGHLIGHTS
- Versatile portfolio of contiguous retail and residential buildings, offering strong potential for renovation or strategic redevelopment.
- Includes a historic corner property with an eye-catching original façade that can be seen by over 42,000 daily cars at a signalized intersection.
- Flexible C2 Zoning, supporting a wide range of retail or residential redevelopment projects.
- Prime Koreatown location, just 1 mile from Interstate 10 and the Wilshire/Western Metro Station, providing convenient region connectivity.
- More than 78,000 residents living within a 1-mile radius produced annual consumer spending of more than $709 million during 2024.
- Just 3 miles from Downtown hotspots, including the Convention Center and the Crypto.com Arena.
EXECUTIVE SUMMARY
Claim a top spot in Los Angeles vibrant Koreatown neighborhood with the versatile collection of commercial properties at 3072-3084 W Pico Boulevard. Offering contiguous storefronts with a high-traffic corner location, this rare opportunity provides diverse upside potential to rehabilitate and lease the remaining vacancies or create a dream redevelopment project in a superior urban location. This rare offer is being offered at a significant discount to the replacement, making this a can't-miss acquisition for savvy investors and developers.
The properties span a total of 23,848 square feet across several buildings, including a historic corner property that adds prestige to this unique assemblage. The buildings sit on adjoining lots totaling 0.26 acres with flexible C2 zoning, providing varied opportunities for a range of retail and residential applications.
Situated at the corner of the signalized intersection of W Pico and S Western Avenue, 3072-3084 W Pico Boulevard benefits from exceptional visibility to more than 42,000 daily vehicles. Additionally, Interstate 10 is reachable in less than a mile, as well as the Wilshire/Western Metro Station, providing seamless connectivity across the greater region. The property sits along an existing retail corridor that provides a wealth of boutique shops, popular restaurants, and a wide range of service-based amenities, all within walking distance. Additionally, the site is just minutes from major area hotspots such as Downtown Los Angeles, the Convention Center, and the Crypto.com Arena, enhancing appeal with quick access to world-class urban amenities.
Koreatown provides a valuable destination for new business and investment, with stable population and economic growth in recent years. The area attracts higher-income residents with new upscale apartment communities and diverse dining, entertainment, and cultural options. Currently more than 78,000 residents live within 1 mile of 3072-3084 W Pico Boulevard, producing annual consumer spending of more than $709 million. These affluent locals provide strong support for both retail and residential sectors, ensuring long-term growth potential for a new owner.
Don’t miss out on this versatile investment opportunity that blends a historic identity with unmatched value-add potential in Los Angeles at 3072-3084 W Pico Boulevard.
Property tours are by appointment only. Please contact the listing broker to schedule.
The properties span a total of 23,848 square feet across several buildings, including a historic corner property that adds prestige to this unique assemblage. The buildings sit on adjoining lots totaling 0.26 acres with flexible C2 zoning, providing varied opportunities for a range of retail and residential applications.
Situated at the corner of the signalized intersection of W Pico and S Western Avenue, 3072-3084 W Pico Boulevard benefits from exceptional visibility to more than 42,000 daily vehicles. Additionally, Interstate 10 is reachable in less than a mile, as well as the Wilshire/Western Metro Station, providing seamless connectivity across the greater region. The property sits along an existing retail corridor that provides a wealth of boutique shops, popular restaurants, and a wide range of service-based amenities, all within walking distance. Additionally, the site is just minutes from major area hotspots such as Downtown Los Angeles, the Convention Center, and the Crypto.com Arena, enhancing appeal with quick access to world-class urban amenities.
Koreatown provides a valuable destination for new business and investment, with stable population and economic growth in recent years. The area attracts higher-income residents with new upscale apartment communities and diverse dining, entertainment, and cultural options. Currently more than 78,000 residents live within 1 mile of 3072-3084 W Pico Boulevard, producing annual consumer spending of more than $709 million. These affluent locals provide strong support for both retail and residential sectors, ensuring long-term growth potential for a new owner.
Don’t miss out on this versatile investment opportunity that blends a historic identity with unmatched value-add potential in Los Angeles at 3072-3084 W Pico Boulevard.
Property tours are by appointment only. Please contact the listing broker to schedule.
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
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MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
23,848 SF
Building Class
B
Year Built
1925
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.13
Lot Size
0.26 AC
Parcel Numbers
Zoning
C2 - Commercial
Frontage
Walk Score®
Walker's Paradise (94)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
78,076
599,019
1,262,303
2020 Population
77,085
597,774
1,281,379
2029 Population
76,379
584,792
1,228,127
2024-2029 Projected Population Growth
-2.2%
-2.4%
-2.7%
Daytime Employees
20,726
262,177
682,249
Total Businesses
3,296
32,591
87,607
Average Household Income
$67,535
$76,705
$86,758
Median Household Income
$45,325
$52,345
$59,361
Total Consumer Spending
$709.5M
$5.9B
$13.9B
Median Age
38.5
36.7
37.6
2024 Households
29,497
232,216
503,555
Percent College Degree or Above
20%
21%
23%
Average Home Value
$890,224
$865,141
$871,850
$ values in USD
NEARBY MAJOR RETAILERS
SALE ADVISOR
SALE ADVISOR
Vinny Jain, President, Broker
Vinny Jain is a seasoned real estate executive with over 20 years of experience in real estate management, asset management, brokerage, construction, rehabilitation projects, acquisition, disposition, and leasing of residential, commercial, office, and industrial properties. Vinny's expertise in both operational and financial aspects of real estate distinguishes him as a unique asset to Ingenious' executive team.
Prior to co-founding Ingenious Asset Group, Vinny was the Head of Asset Management at MJW Investments, Inc., one of Southern California's Top 20 Real Estate firms, where he oversaw the management of approximately 4,000 residential units and 4.1 million square feet of commercial/industrial/office space across 46 properties. Prior to MJW, Vinny was a Senior Asset Manager at JRK Residential Group, an apartment platform that owns and/or manages over 35,000 units nationwide and was recently ranked as the 30th largest apartment management company in the nation. At JRK, Vinny oversaw four Regional Managers and was directly responsible for a portfolio of 4,700 units in 4 States with annual revenues exceeding $30 million. His role included all facets of property management including revenue and expense optimization, multimillion-dollar renovation programs, operations, accounting, human resources, and training.
Prior to JRK, Vinny was the Director of Property Management at Fred Leeds Properties, where he oversaw over 1.5 million square feet of retail properties and 3,000 apartment units across 200+ assets located throughout Southern California, Arizona, and New York. Prior to Fred Leeds Properties, Vinny was with Aura Asset Group, Inc., which he had joined in January 2002 as a Property Management Analyst, but quickly rose through the ranks, and was the Vice President of Operations, when he left in October 2006. During his tenure at Aura Asset Group, Vinny completed value-added acquisitions of undervalued distressed real estate assets in secondary and tertiary markets in California and Texas, oversaw the rehab and turn-around of assets, and then disposition of the assets.
Vinny holds an MBA from Southeast Missouri State University, a master’s in international business from Pune, India, and a Bachelor of Arts degree in Economics from University of Delhi, India. He is a Certified Property Manager® (CPM®), and a licensed Real Estate Broker in California.
Prior to co-founding Ingenious Asset Group, Vinny was the Head of Asset Management at MJW Investments, Inc., one of Southern California's Top 20 Real Estate firms, where he oversaw the management of approximately 4,000 residential units and 4.1 million square feet of commercial/industrial/office space across 46 properties. Prior to MJW, Vinny was a Senior Asset Manager at JRK Residential Group, an apartment platform that owns and/or manages over 35,000 units nationwide and was recently ranked as the 30th largest apartment management company in the nation. At JRK, Vinny oversaw four Regional Managers and was directly responsible for a portfolio of 4,700 units in 4 States with annual revenues exceeding $30 million. His role included all facets of property management including revenue and expense optimization, multimillion-dollar renovation programs, operations, accounting, human resources, and training.
Prior to JRK, Vinny was the Director of Property Management at Fred Leeds Properties, where he oversaw over 1.5 million square feet of retail properties and 3,000 apartment units across 200+ assets located throughout Southern California, Arizona, and New York. Prior to Fred Leeds Properties, Vinny was with Aura Asset Group, Inc., which he had joined in January 2002 as a Property Management Analyst, but quickly rose through the ranks, and was the Vice President of Operations, when he left in October 2006. During his tenure at Aura Asset Group, Vinny completed value-added acquisitions of undervalued distressed real estate assets in secondary and tertiary markets in California and Texas, oversaw the rehab and turn-around of assets, and then disposition of the assets.
Vinny holds an MBA from Southeast Missouri State University, a master’s in international business from Pune, India, and a Bachelor of Arts degree in Economics from University of Delhi, India. He is a Certified Property Manager® (CPM®), and a licensed Real Estate Broker in California.
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AUCTION CONTACT
Molly Patten
Contact
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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