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4070 W 3rd St
Los Angeles, CA 90020 Koreatown

$10,000,000 USD

Office For Sale • 40,816 SF

Property Details

Property Type Office
Total Building Size 40,816 SF
Lot Size 0.65 AC
Building Class C
Year Built 1948
Cap Rate 6.21 %
Tenancy Multiple
Zoning CR-1, C2-1, and R1

90 Transit Score

80 Walk Score

                
                    Highlights
                
                                Prime Koreatown location with high 3rd Street visibility
                            
                                ±13,000 SF building on ±28,300 SF lot (3-parcel assemblage)
                            
                                Zoning: C2-1, CR-1, and R1-1; TOC Tier 3 zoning with pending General Plan Amendment to R5-1
                            
                                Approximately 39 on-site parking spaces (rare for the submarket)
                            
                                Ideal for owner-user with flexibility for future occupancy
                            
                                In-place income from established restaurant/karaoke operator

Financial Summary (Actual)

Net Operating Income: $620,978 USD (2024)

Cap Rate:	6.21 %
Total Expenses:	$106,157 USD

Major Tenants

Tenant	SF Occupied	Lease End Date
Soop Sok Music Studio
Top Properties

Amenities

Bus Line
Fenced Lot
Wheelchair Accessible
Monument Signage
Outdoor Seating

Public Transportation

Commuter Rail	Drive	Walk	Distance
	10 min	-	4.9 mi
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink))	12 min	-	5.1 mi
Transit/Subway	Drive	Walk	Distance
Wilshire/Normandie Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	11 min	0.6 mi
Wilshire/Western Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	16 min	0.8 mi
Airport	Drive	Walk	Distance
Bob Hope	23 min	-	11.8 mi
Los Angeles International	26 min	-	13.7 mi
Long Beach (Daugherty Field)	37 min	-	25.1 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	36
Type:	Surface
Included in Rent:	Yes

Michael Chang 323-235-5050 Top Properties

4070 W 3rd St Los Angeles, CA 90020 Koreatown