The 5 Most Expensive CRE Properties in LA County – November 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, office and development properties listed for sale in November 2015. Properties on this list are still for sale as of the date of publication and information is current as of this date.
5. GLENDALE: The Imperial Apartments
914 S. Central Ave., Glendale, CA 91204
$12.3 MILLION
Google Street View
Listing Broker: Coldwell Banker Commercial Alliance
Total space: 32,488 sq. ft.
Price per square foot: $378.45 (52 units – $236,442 per unit)
Year completed: 1962
Category: Multifamily
This apartment complex contains mostly 1 bedroom units, but also has studios and 2 bedroom units. It is located across the street from a Starbucks and is adjacent to a Taco Bell. Redevelopment opportunities may be possible, given the commercial activity on the street.
4. WESTLAKE: Office Building
2333 Beverly Blvd., Los Angeles, CA 90057
$13.6 MILLION
Google Street View
Listing Broker: Top Properties
Total space: 22,706 sq. ft.
Price per square foot: $598.96
Year completed: 1963
Category: Office
According to the listing, this property would be great for an owner/user. The four story building can be delivered vacant at time of closing. The structure features a rooftop & private terrace, a unique attribute in the area.
3. NORTH HILLS: 4 Multifamily Properties (Portfolio)
9014, 9022, 9034 Orion Ave. &
9015-9017 Langdon Ave., North Hills, CA 91343
$15.5 MILLION
Google Street View
Listing Broker: Nazanin Safavi
Total space: 103,459 sq. ft.
Price per square foot: $149.72 (102 units – $121,477 per unit)
Years completed: 1963, 1964
Category: Multifamily
Four contiguous multifamily properties are for sale in North Hills – three properties on Orion Ave and one property on Langdon Ave. The listing flyer states that properties are a block or two away from the 405 freeway and that they are “quiet, well maintained properties.”
2. MARINA DEL REY: Development Property
4065 Glencoe Ave., Marina Del Rey, CA 90292
$16 MILLION
Google Street View
Listing Broker: Marcus & Millichap
Total space: 51,401 sq. ft.
Price per square foot: $311.28
Category: Land – Residential
4065 Glencoe is a plot of land that includes an existing 11,344 sq. ft. building. The property is zoned CM (GM)-2D-CA and is part of the Glencoe/Maxella Specific Plan. The plan allows the developer to build up to 80 residential units. The property is adjacent to large multifamily projects constructed within the past decade or so.
1. LONG BEACH: 3 Multifamily Properties (Portfolio)
1870 Harbor Ave. & 1336 19th St., Long Beach, CA 90810,
1200 E. 52nd St., Long Beach, CA 90805 &
1153-1161 Magnolia Ave., Long Beach, CA 90813
$22 MILLION
Google Street View
Listing Broker: NAI Capital
Total space: 90,502 sq. ft.
Price per square foot: $243.53 (108 units – Price per unit: $204,074)
Years completed: 1959-1963
Category: Multifamily
At just over $22 million, the 4 property portfolio was the most expensive CRE listing last month in LA County. The multifamily buildings are scattered throughout the city and include a mix of 2, 3, & 4 bedroom units. It is interesting to note that 4 of the 5 properties on this list were built around 1963.
If you are interested in learning more information about any of the mentioned properties, please feel free to contact us by phone at (310) 943-8530 or by email at info@cbicommercial.com.