800 S VERMONT AVE
Stabilized multi-tenant retail and office property in Koreatown, Los Angeles, offered at $9,500,000 at a 6.59% cap ($626,166 NOI). The 22,271 SF building on a 0.46-acre parcel operates at 96% occupancy with a strong tenant mix of necessity-based retail and professional office users generating consistent positive cash flow.
Situated at the signalized intersection of Vermont Avenue and 8th Street, the property commands approximately 60,000 vehicles per day and 150 feet of frontage on both streets, with significant pedestrian activity. Built in 1933 and comprising two stories, the asset includes 30 on-site parking spaces. The predominantly short-term gross leases present a value-add opportunity to increase rental income through lease restructuring to triple-net or modified gross terms.
Zoned C2-1, the property offers substantial long-term redevelopment potential. The site can accommodate approximately 51 residential units by right, with the possibility of exceeding 100 units through density bonuses. Located a quarter mile from the Wilshire/Vermont Purple Line station and designated as a Transit Oriented Community (TOC) Tier 3 site, the property benefits from enhanced development incentives. The surrounding Koreatown submarket continues to experience significant multifamily growth, with thousands of new residential units recently completed, under construction, or proposed.
- 96% occupied with necessity-based retail and professional office tenants
- Signalized corner location with 60,000 daily vehicles and 150 feet of dual frontage
- Short-term gross leases offer value-add upside through lease restructuring
- C2-1 zoning with 51 units by right; 100+ units possible via density bonuses
- Quarter mile from Purple Line station; TOC Tier 3 designation
More property details
Location
Crossroads on Vermont presents a rare opportunity to acquire a stabilized, income-producing retail and office property in the heart of Los Angeles' Koreatown, currently operating at approximately 96% occupancy and generating positive cash flow. The property features a strong mix of necessity-based retail tenants and professional office users, creating consistent customer traffic and reliable occupancy. Strategically located at the signalized intersection of Vermont Avenue and 8th Street, the asset benefits from exposure to more than 60,000 vehicles per day, significant pedestrian activity, and approximately 150 feet of frontage along both streets. The property consists of approximately 22,272 square feet of improvements situated on a 20,235-square-foot parcel, with around 30 dedicated on-site parking spaces. Zoned C2-1, the site offers substantial long-term redevelopment potential, allowing for approximately 51 residential units by right, with the possibility of exceeding 100 units through density bonuses. The surrounding Koreatown submarket continues to experience significant multifamily growth, with thousands of new residential units recently completed, under construction, or proposed, supporting long-term demand. Additionally, the property's predominantly short-term gross leases provide investors with the opportunity to increase rental income, transition leases to triple-net or modified gross structures, and enhance overall asset value. Located just a quarter mile from the Wilshire/Vermont Purple Line station, the property also benefits from a Transit Oriented Community (TOC) Tier 3 designation, further strengthening its investment appeal and future development potential.