5353 W Pico Blvd

Executive Summary

• The Neema Group of Marcus & Millichap is pleased to present 5353 W Pico Blvd, stationed on a highly visible strip in an ideal Mid-Wilshire location between S Burnside Ave & S Ridgely Dr.
• Built in 1957, this investment opportunity is optimal for an owner-user or investor to acquire for a retail or office space surrounded by an abundance of shopping, restaurants, entertainment, and amenities in a central and premier Los Angeles neighborhood.
• Opportunity for redevelopment as the site totals 8,061 SF zoned C4-1-O. Potential to build up to 20 units by-right. (Buyer to verify development potential in due diligence.)
• The current site consists of a 4,080 square foot building on an 8,061 square foot lot and is presently being operated as a pre-school. The school currently uses the side lot as a playground but can be used as a parking lot.
• Mid-Wilshire is a prime Central LA location known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district.
• The subject property boasts a high walk score of 92, a “walker’s paradise” in a central LA location with convenient access to local restaurants, shopping, employment, transportation, and nightlife. The neighboring block on South La Brea Ave hosts a brand-new Target and Sprouts development, one mile east is the Midtown Crossing Shopping Center, and one mile north is the iconic Miracle Mile shopping district, providing residents a convenient destination shopping experience.