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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

79 Transit Score

92 Walk Score

                
                    Highlights
                
                                Prime Koreatown location with high 3rd Street visibility
                            
                                ± 28,297 SF lot (0.65 acres) with ± 13,248 SF of improvements
                            
                                TOC Tier 3 zoning with pending General Plan Amendment to R5-1
                            
                                Redevelopment potential for up to ± 226 multifamily units
                            
                                Long-established karaoke bar/restaurant and office uses
                            
                                Flexible investment profile: income now + redevelopment upside

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

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