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$ 1,595,000
Est. payment | /mo
7,771 Sqft Lot
$ 1,595,000
Est. payment | /mo
7,771 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26985043
HOA Y/N No
Year Built 1932
Lot Size 7,771 Sqft
Property Description
Saxum West is pleased to present 3700 E. Cesar E. Chavez Avenue a newly renovated, 7,000 SF single-tenant retail building situated at the hard corner of Cesar Chavez Ave and Eastman Ave in the heart of East Los Angeles. The property includes 5,660 SF of ground-floor retail (12-foot ceilings in the main retail area) and 1,357 SF of usable mezzanine connected by interior staircase, plus a gated rear parking lot. The building has been brought to a partially improved shell / white box condition with a new roof, new 200A electrical service (120/240V, 1P, 3W), new recessed LED lighting throughout, two restrooms, new drywall and fresh paint, and a current Certificate of Occupancy.Located on one of East LA's primary commercial spines, the property is right across the street from Superior Grocers and CVS Pharmacy two of the highest-traffic anchor tenants in the trade area. Surrounding co-tenancy includes Brooklyn Hardware, multiple medical and dental clinics, restaurants, and dense neighborhood retail. The property serves an established residential population with strong daytime and evening foot traffic on a corridor that benefits from continued investment.The property is zoned LCC3 (Unlimited Commercial Zone) under the jurisdiction of unincorporated LA County, with the Cesar Chavez Avenue Transect Plan (Flex Block) overlay. LCC3 is one of the broadest commercial zoning category in unincorporated LA County and permits a wide range of by-right retail and service uses including auto parts retail, hardware and building supply stores, general retail, apparel, furniture and appliance stores, restaurants, medical and dental offices, fitness studios, daycare centers, pharmacies, and professional services.The expansive permitted-use range, combined with the building's visibility and gated rear parking, makes this property equally suitable to an owner-user or a savvy investor looking for a single tenant investment property with value-add upside. At the asking lease rate of $1.65 per SF MG, the building generates approximately $138,600 in gross scheduled income and supports a ~6.4% cap rate at the listed sale price attractive for passive investors seeking newly renovated retail income in a high-barrier-to-entry submarket. The hard corner location, turnkey condition, and SBA-eligible profile also position the property as a great owner-occupier play.In addition to its as-is value, the property includes Ready-to-Issue (RTI) permits for a five-unit attached townhome development (4,777 SF) at the rear of the lot, with the front 3,865 SF of the existing retail building retained for continued commercial use. The entitled program includes four 3BR/3BA townhomes (928 SF each) plus one ADA-compliant unit (1,065 SF) under the Cesar Chavez Avenue Transect Plan (Flex Block, 30 du/acre, 40-ft height), with no parking required under AB 2097. These future townhomes will be free from rent control and affordable housing restrictions, offering full market-rate rental potential. The architectural plans are available upon request and provide optionality for a future redevelopment strategy without committing the next owner to it.
Location
State CA
County Los Angeles
Area Ela - East Los Angeles
Zoning LCC3*
Interior
Fireplace No
Exterior
Total Parking Spaces 7
Building
Story 2
Others
Tax ID 5232026014
Special Listing Condition Standard
Listed by Joseph Bolognese Saxum West #01966025
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