Creative Flex Space | Future Development 5208 W Pico Blvd 3 146 pi² Bureau Immeuble Los Angeles, CA 90019 3 102 592 $ CAD (986,20 $ CAD/pi²)

Floyd Shaheen of Floyd Group at Marcus & Millichap is please to present exclusively for sale 5208 W Pico Blvd in Los Angeles, CA. This property offers a unique investment opportunity. The building encompasses 3,146 square feet and sits on a 6,183-square-foot lot. Constructed in 1957, it features 11 creative office units complemented by two communal bathrooms. The current parking configuration accommodates nine vehicles. All existing leases are on a month-to-month basis, providing flexibility for potential owner-users or investors considering redevelopment. The zoning designation is LA C4-1, allowing for a Floor Area Ratio (FAR) of 3:1. This permits the development of 16 residential units by right or up to 24 units utilizing Transit Oriented Communities (TOC) Tier 1 incentives. Additionally, the site is eligible for ED-1 incentives, further enhancing its development potential.
Retail in the area is characterized by small shopping centers, standalone storefronts, and mixed-use developments with ground-floor retail. Businesses include a mix of local boutiques, coffee shops, fitness studios, specialty grocery stores, and fast-casual dining options, alongside national chains like Target, Sprouts, CVS, and Starbucks. The nearby Grove, Beverly Center, and Westfield Century City shopping centers further enhance retail appeal, drawing significant foot traffic and serving as major retail anchors for the region. Employment in 90019 is supported by small business owners, retail workers, healthcare professionals, and creative industry employees, with nearby employment hubs including Miracle Mile, Beverly Hills, West Hollywood, and Culver City. The presence of LACMA, the Petersen Automotive Museum, and media and entertainment firms in the area also contributes to commercial real estate demand. As a result, there is a steady need for office space, co-working spaces, and flex-use properties that cater to entrepreneurs and remote workers.