Homes for sale - 4201 N Figueroa ST, Los Angeles, CA 90065

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Jessica Panzica

jessica@jessicapanzica.com +1(714) 313-8193

$2,690,000

Est. payment - /mo

0.28 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25502719

HOA Y/N No

Lot Size 0.277 Acres

Property Description

We are pleased to present a net lease retail investment opportunity in the Highland Park neighborhood of Los Angeles located on the main thoroughfare of N Figueroa St just off the 110 Freeway. 4201 N Figueroa St was recently renovated by the tenant and leased to Enterprise-Rent-A-Car, a NNN corporate lease that commenced on February 1, 2024. The original term is ten years* with two five-year options; throughout the base term, there are annual rent increases the greater of CPI or 2%. Minimal landlord responsibilities, allowing an investor to passively collect cash flow; at the asking price, the CAP rate is 5.69%. Enterprise-Rent-A-Car has over 8,000 locations nationwide and is the leader of car rental providers in the industry. Rare opportunity to acquire a NNN corporate lease with long term development potential; the corner lot totals 12,051 SF zoned [Q]C2-1VL-HPOZ in a Tier 3 TOC, allowing for residential development and potential to build 31 apartment units by-right and up to 52 units utilizing the TOC benefits (Buyer to verify). The Highland Park neighborhood is considered one of the most sought-after submarkets in Los Angeles as it sits in the center of three popular work and entertainment destinations with Downtown Los Angeles to the south, Glendale to the west and Pasadena to the east.

Location

State CA

County Los Angeles

Area 632 - Highland Park

Zoning LAC2

Interior

Fireplace No

Others

Tax ID 5467001043

Special Listing Condition Standard

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Listed by Neema Ahadian • Marcus & Millichap

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Jessica Panzica

+1(714) 313-8193

Agent | License ID: 01854556

Agent License ID: 01854556

4201 N Figueroa ST Los Angeles, CA 90065

Jessica Panzica

Key Details

Location

Interior

Others

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