Coldwell Banker Commercial Realty and WESTMAC Commercial Brokerage Company are delighted to present an exclusive opportunity to aquire Kenmore Plaza located at 3450 W. 6th St., a strategically positioned strip center at the heart of Los Angeles’ dynamic Koreatown neighborhood. Encompassing 14,344 square feet of building space on a generous 26,335 square feet of land, this trophy asset stands as a prime investment. Currently fully leased, the building accommodates long-term mom-and-pop tenants dedicated to serving the local community and now with the surge of positive social media coverage of the Koreatown culinary scene, it has been attracting new food enthusiasts from diverse non-local communities. With most tenants subject to annual 5% rent escalations, this property ensures a reliable and growing income strategically positioned in the most sought after block in Koreatown. This vibrant junction of W. 6th St. and Kenmore is surrounded by flourishing culinary and nightlife hotspots, witnesses a robust traffic volume of 44,326. Kenmore Plaza is an exceptional opportunity for buyers aiming to establish a presence in Koreatown’s highly coveted submarket in the hottest retail block. Moreover, the property is zoned LAC2 and falls within the Tier 3 zone of TOC guidelines, positioning it ideally for developers looking to participate in the neighborhood’s ongoing development surge. The prime location of 3450 W. 6th St. within this bustling neighborhood makes it a compelling prospect for acquiring a retail strip center. Don’t miss out on this exciting opportunity to be part of Koreatown’s dynamic growth and development.
| Property Type | Retail |
|---|---|
| Year Built | 1988 |
| Level Number | 1 |
| Sub-Lease | 11 |
| Zoning | LAC4 |
| Listing ID | 476RD5 |
| Style | Retail Bldg -Local Strip |
| Building Size | 14,344 SF |
| Lot Size | 26335 AC |
Area Description: Excellent Location - Highly visible with great frontage at a signalized intersection. Located one block North of Wilshire Boulevard, along one the City’s most highly traveled thoroughfares. The area boasts a walk score of 95 (Walker’s Paradise) and a transit score of 81 (Excellent Transit). Strong Historical Occupancy - The Property is made up of mostly food service tenants with a majority of tenants having renewed multiple times showing their commitment to this location. Prime Development Zone - This part of Koreatown is booming with Development activity thanks to the City’s Transit Oriented Communities incentive program, and with over 26,000-square feet of land to work with, this is a great opportunity for developers. Net Leases with Built-In Increases - Most tenants feature net leases with 5% annual rent increases, providing Ownership with a growing cash flow. Densely Populated Area - Over 1.2 million people live within five (5) miles of the subject property, with 147,000 of those living within 1 mile. Excellent Transportation Hub - The subject property is conveniently located with easy access to two Metro stations—the Los Angeles Metro Rail’s Wilshire and Normandie station located one-half mile away, or the Wilshire and Vermont station located one-mile away. These stations are part of Metro’s Purple and Red Lines that connect riders from Koreatown to Downtown Los Angeles.
| Parking Places: | 38 |
| Age: | 41-50 Years Old |