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Key Details
Sold Price $2,500,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 4,437 sqft
Price per Sqft $563
MLS Listing ID 23-290785
Sold Date 11/09/23
Year Built 1931
Lot Size 9,970 Sqft
Acres 0.2289
Property Sub-Type Retail
Property Description
HUGE PRICE REDUCTION! HIGHLY MOTIVATED TRUST SELLERS! Presenting an outstanding investment opportunity in a prime Palms location on a signaled corner lot! Surrounded by explosive growth and coupled with flexible C2-1 zoning, the possibilities for this property range from continuing with it's historical use as retail, or as a variety of other commercial operations. As a redevelopment strategy, it's "Highest & Best" would be as a mixed-use project of up to 40 residential units with ground level retail, per Los Angeles TOC (Transit Oriented Communities) Tier 2 bonus guidelines. Operated by the same owner / User as a restaurant continuously for the last 50 years, the business is now closed and will be delivered vacant. This is a Trust Sale with no court confirmation required.
Location
State CA
County Los Angeles
Area Palms - Mar Vista
Zoning LAC2
Interior
Heating Forced Air, Natural Gas
Exterior
Garage Spaces 8.0
Roof Type Flat
Building
Story 1
Water District
Structure Type Stucco
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Simon A. Lazar
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Ivan Perez
Broker Associate | License ID: 01952891
Broker Associate License ID: 01952891