Just Closed – Mixed Use or Redevelopment Opportunity in Los Angeles | $570,000
Benji Gribnau and Nico Rosmarin are pleased to have closed 1262-1266 N Evergreen Ave in Boyle Heights, just east of Downtown Los Angeles!
This 1,704 Sq Ft property on a 5,952 Sq Ft lot sold for $570,000
The properties consist of a retail store, single-family house, and an empty lot. The corner lot is comprised of a fully remodeled convenience store and one newly renovated single family 2 bed/2 bath house, while the adjacent lot is empty and could be used to develop a single-family house.
Since both buildings are being sold fully remodeled and vacant, this offers a perfect owner/use investment opportunity, or for a developer to rent out the retail store and single-family house and build on the empty lot. The unique location provides easy access to the 10, 5 and 710 Freeways. Additionally, the properties are minutes away from Downtown Los Angeles, which continues to experience rapid growth.
The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.
Los Angeles County is well located on the Southern Coast of California, and covers 4,061 square miles, including the San Clemente and Santa Catalina islands. The County is comprised of approximately 88 vibrant and diverse cities hosting more than 244,000 business establishments— the greatest concentration in the state. Los Angeles County has a Gross Domestic Product (GDP) of approximately $446 billion – placing it among the top 20 economies in the world. The combined GDP of Los Angeles and its five surrounding neighboring counties places it in the top 10. California is generally considered to be in the top five.
Over the years, Los Angeles County has developed a diverse economic base, supported by a number of Fortune 500 companies with headquarters in the area, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTV Group, Northrop Grumman, and many more. Key factors positively impacting the region’s economic position include increased local media production by the entertainment industry and a continuing expansion of import flows. Los Angeles’ well-educated labor pool, many universities, wonderful climate, and world-class infrastructure will enable Greater Los Angeles to continue to be a world leader in economic and cultural significance.
For future listings:
- Contact Benji Gribnau at [email protected] – (323) 272-2117
- or Nico Rosmarin at [email protected] – (424) 226-9449