The 5 Most Expensive CRE Properties in LA County – October 2015
Do you have millions of dollars saved up? Are you looking to invest in commercial real estate properties currently for sale in LA County? If you answered yes to both of these questions, then you might want to consider the following list of properties. This list was compiled from information provided by CoStar, and includes the most expensive multifamily, industrial, flex and office properties listed for sale in October 2015. Properties on this list are still for sale as of the date of publication and information is current as of this date.
5. HOLLYWOOD: Multifamily Development
1840 N. Highland Ave, Los Angeles, CA 90028
$20 MILLION
Google Street View
Listing Broker: Charles Dunn
Total space: 95,000 sq. ft.
Price per square foot: $210.53 (Price per unit: $169,492)
Construction start: June 2016, proposed: June 2017
Category: Multifamily
As of November 2015, the property is host to a parking lot and advertising billboards. Next year, it appears that will change to luxury apartments. According to the CoStar listing, the lot is fully entitled for 118 apartment units. Dwellers will like the convenient location – close to the Hollywood Bowl, 101 freeway, Hollywood & Highland, and the Kodak Theater.
4. SOUTH LA: Industrial Buildings
8122 Maie Ave & 1650-1652 E. Nadeau St., Los Angeles, CA 90001
$22.2 MILLION
Google Street View
Listing Broker: Top Properties
Total space: 229,875 sq. ft.
Price per square foot: $96.56
Years completed: 1937-1973
Category: Industrial
Currently serving as a cargo transport unit (CTU) building, the property features 4 separate buildings totaling 230,000 sq. ft. interior space. This multi-tenant building has a large open space and 145 parking spaces.
3. FASHION DISTRICT: Industrial Building
900-916 E. Pico Blvd., Los Angeles, CA 90021
$25 MILLION
Google Street View
Listing Broker: Gabriel Weiss & Associates
Total space: 32,000 sq. ft.
Price per square foot: $781.25
Year completed: 1987
Category: Flex
The sale price of $25 million includes 3 separate contiguous parcels stretching from Pico Blvd to 14th Street. The lots are located in the Fashion District, nearby trendy areas like Downtown and the Arts District.
2. GLENDALE: Vue @ Montrose
2121 Valderas Dr., Glendale, CA 91208
$31 MILLION
Google Street View
Listing Broker: Marcus & Millichap
Total space: 86,163 sq. ft. (104 units)
Price per square foot: $359.78 (Price per unit: $298,077)
Year completed: 1966
Category: Multifamily
Although built in 1966, this apartment complex was most recently renovated from 2013-2015. Tenants saw updates to the unit interiors and common areas. Located between the San Gabriel and Verdugo Mountains, the Vue at Montrose features lush landscaping, waterfalls and streams running throughout the 4-acre property.
1. KOREATOWN: Office Building
515 Shatto Place, Los Angeles, CA 90020
$55 MILLION
Google Street View
Listing Broker: Marcus & Millichap
Total space: 18,000 sq. ft.
Price per square foot: $3,055.56
Year completed: 1961
Category: Office
This Koreatown building was owned by the Laborers’ International Union of North America. The 2-story structure is adjacent to midrise office buildings and the Chinese consulate. Priced at $55 million, 515 Shatto is the most expensive commercial real estate property to be listed in October in LA County.