2959 for sale highly visible retail cornerimages3.loopnet.com/d2/voliipgmoqwldg7olhezg8kw2...current...
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835 Wi lsh i re Bou levard , Los Ange les , CA 90017 1 CHARLES DUNN COMPANY, INC.800 West Sixth Street, Suite 800 | Los Angeles, CA 90017 | Lic. #01201641 | charlesdunn.com
CONTACT:
2 9 5 9S O U T H C R E N S H A W B O U L E V A R DL O S A N G E L E S , C A 9 0 0 1 6
HIGHLY VISIBLE RETAIL CORNER
South Crenshaw Boulevard
Wes
t 30t
h St
reet
FOR SALE COMMERCIAL PROPERTY
TRACY TAFTDirector
Lic. #00903455Direct | 213.270.6207
2959 South Crenshaw Bou levard | Los Ange les , CA 90016 | 2 www.charlesdunn.com
PROPERTY OVERVIEW
PROPERTY INFORMATION
ADDRESS 2959 South Crenshaw Boulevard Los Angeles, CA 90016
SALE PRICE $1,200,000
APN 5050-018-009
YEAR BUILT 1971
BUILDING AREA 1,401 SF
LAND AREA 9,191 SF
ZONING LAC1.5-1-SP
CURRENT USE Retail Restaurant
2959 South Crenshaw Boulevard, Los Angeles, CA 90016, is also identified by the Los Angeles County Assessor’s Office as Parcel Number 5050-018-009. The Property consists of a retail restaurant building of approximately 1,401 square feet situated on 9,191 square feet of land. The building is zoned LAC1.5-1-SP and is currently being utilized as a restaurant with onsite parking.
PROPERTY ATTRIBUTES
South Crenshaw Boulevard
30th
Stre
et
Exceeding50,202Cars Per Day
• Highly visible retail location on major thoroughfare• Signalized corner• Square corner parcel with three curb-cuts• High available daily traffic - 56,202 cars per day* • Located on rapidly developing Crenshaw Boulevard corridor• Approximately .34 mile from Expo/Crenshaw/LAX Metro Station
and approximately .48 miles from 10 Freeway• Excellent new retail/commercial development opportunity
*Source: Costar
85WALK SCORE
2959 South Crenshaw Bou levard | Los Ange les , CA 90016 | 4 www.charlesdunn.com
NEIGHBORING RETAILERS
W Jefferson Boulevard W Jefferson Boulevard
7th Avenue
Cren
shaw
Bou
leva
rd
Buckingham Road
W Adams Boulevard
W Exposition Boulevard
Arlington Avenue
Rodeo Road
Coliseum Street
Expo Line /Crenshaw Line
SUBJECT PROPERTY
2959 South Crenshaw Bou levard | Los Ange les , CA 90016 | 5 www.charlesdunn.com
AREA DEVELOPMENT
ADDRESS PROPERTY TYPE PROPERTY SIZE (SF)
1 4314 W Adams Blvd Class A Multifamily/Apartments 60,000
2 4347 W Adams Blvd Class A Multifamily/Apartments 55,000
3 6336 Brynhurst Ave Class B Multifamily/Apartments 15,370
4 4018 Buckingham Rd Class A Multifamily/Apartments 140,000
5 2645 Crenshaw Blvd Class A Multifamily/Apartments 80,000
6 3411-3429 Crenshaw Blvd Class A Multifamily/Apartments 55,000
7 3562-3670 Crenshaw Blvd Retail 306,852
8 3690 Crenshaw Blvd Class A Multifamily/Apartments 160,000
9 5414 S Crenshaw Blvd Class A Multifamily/Apartments 75,000
10 3780 W MLK Jr Class A Office/Medical 100,000
11 4220 Mont Clair St Class A Multifamily/Apartments 40,000
12 3444 Rodeo Rd Mixed-use 225,000
13 4617 W Slauson Ave Retail/Restaurant 3,520
14 3831 W Stocker St Class A Multifamily/Apartments 74,000
15 6558-6572 West Blvd Specialty/Shelter 45,305
16 3661-3664 Western Ave Class A Multifamily/Apartments 29,780
17 5407 S Western Ave Retail/Storefront 12,460
1 3
9
1 47
1 68
41 0
6
1 2
1 112
1 7
3
1 5
PROPOSED & UNDER CONSTRUCTION
5SUBJECT
PROPERTY
2959 South Crenshaw Bou levard | Los Ange les , CA 90016 | 6 www.charlesdunn.com
AREA DEVELOPMENT
CO
LDW
ATER
CA
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MT
HOLLYWOOD VISTA DEL
VALLE
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MULHOLLAND
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PART
FRANKLIN
SUNSET
TRACY
SAN VICENTE
BURTON
RO
SSM
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WILSHIRE
MELROSE
FAIR
FAX
HIL
GAR
D
WES
TER
N
NO
RM
AN
DIE
GA
RFI
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VER
MO
NT
LA B
REA
ROWENA
LA B
REA
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GRIFFIT
H
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RADO
SUNSET
TALM
AD
GE
SUNSET
STEWART
OLYMPIC
18TH17TH
BUNDY
BUN
DY
PICO
AIRPORT
VETERAN
NATIONAL
CENTIN
ELA
SAWTELLE
BARRINGTON
SANTA MONICA FWY
CHURCH
MONTANA
WESTW
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BARRINGTON
EXPOSITION
PICO
MARTIN LUTHER KING JR BL
CADILLAC
WES
T
RED
ON
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SANTA MONICA FWY
OLYMPIC
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ADAMS
8TH8TH
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OVE
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WIL
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TSO
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FAIR
FAX
PICO
WILSHIRE
LA C
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3RD
6TH
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FLOW
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11TH
FIGUEROA
12THBLVD
23RD
12THBLVD
BROADW
HILL
23RD
BROA
DWAY
MA
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PED
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BROADW
HILL
WASHING
54TH
SLAUSON
GAGE
STOCKER 48TH
FAIRVIEW
STOCKER
54TH
60TH
60TH 60TH
GAGE
HYDE PARK
SLAUSON
SOUTHWEST
LEIMERT
FAIRVIEW
OVERHILLB
UCK
LER
ANGELES VISTA
BEACH
AR
LIN
GTO
N
LA B
REA
LA B
REA
MA
RK
ET
ROSE
OVERLAND
CALI
FORNIA
BEETHOVEN
WALGROVE
SAWTELLE
LINCOLN
ABBOT
KINNEY
CENTINELA
JEFFERSON
ADMIRALTY
LA TIJERA
LA CIENEGA
VIA MARINA
PACIFIC
FIJI
SLAUSON
MARINA FWY
ARBOR VITAE
90TH
8TH
HILLCREST
ING
LEW
OO
D
AIR
PO
RT
WES
TER
N
135TH
MARIPOSA
135TH
WESTCHESTER PKWY
MANCHESTER
120TH
NA
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VISTA DEL M
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MA
IN
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VAN
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VER
MO
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NO
RM
AN
DIE
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IMPERIAL HWY
PR
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108TH
CENTURY
LA B
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LA C
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AVIA
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N
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108TH
124TH
FIG
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FIG
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161ST
VER
MO
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REDONDO BEACH
ALONDRA
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AIN
STAN
FOR
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PR
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MARINE
FIG
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LAND
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SILVER LAKE B
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PED
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PED
RO
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SAN
PED
RO
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AVA
LON
BL
AVA
LON
BL
LOS FELIZ BL
LOS FELI Z BL
LOS FELIZ BL
OCEAN PARK
SEPULVEDA
SEPULVEDA BL
SEPULVEDA BL
SEPU
LVEDA
BL
CULV
ER
SEP
ULV
EDA
SEP
ULV
EDA
BEVER
LY DR
BEVERLY
6TH
W S
ILVE
RLA
KE
BLHOLLYWOOD BL
HOLLYWOOD BL
VENICE
PALMS BL
EL SEGUNDO
MANHATTAN BEACH BL
MANHATTAN BEACH
HERM
OSA
CREN
SHAW
RIM
PAU
CR
ENSH
AW
BL
GR
IFFITH PA
RK
DR
RED
ON
DO
B
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H
VERNON
VERNON AV
MANCHESTER
SANTA MONICA BL
SANTA MONIC
A BL
REDONDO BEACH BL
SAN
GLEN
DA
LE BL
ARTESIA BL
GLENDALEG
LEN
DA
LE B
L
ARTESIA BL
FLORENCE
FLORENCE
ING
LEW
OO
D
GARDENA BLGARDENIA
HA
RB
OR
FW
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BR
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DW
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BEVERLY BL
WASHINGTON WASHINGTON BL
MARTIN LUTHER KING JR BL
PAR
K B
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INGLEW
OOD
INGLEWOOD
MAIN
MARINE
FIR
MO
NA
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FREE
MA
N
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FAX
WES
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NYO
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SANTA MONICA BL
SANTA MONICA BL
EL SEGUNDO
LA B
REA
10
110
110
405
91
107
1
1
1
90
2
2
91
101
101
101
GLENDALE
Martin LutherKing Jr
LeimertPark
Hyde Park
FairviewHeights
DowntownInglewood
Westchester/Veterans
Aviation/Century
Expo/La Brea
Farmdale
Expo/Crenshaw
Expo/Western
Culver City
Expo Park/USC
Jefferson/USC
23rd St
Expo/Vermont
La Cienega/Jefferson
GLENDALE
Harbor Fwy
Vermont/Athens
Redondo Beach
Douglas
El Segundo
Mariposa
Aviation/LAX
Hawthorne/Lennox
Crenshaw
Avalon
Wilshire/Western
Wilshire/Normandie
Westlake/MacArthur
Park
Vermont/Beverly
Wilshire/Vermont
Hollywood/Highland
Slauson
37th St/USC
Manchester
105
405
405
105
VENICE
LOSFELIZ
PARKLA BREA
MID-CITY
MARINADELREY
LADERAHEIGHTS
BALDWINHILLS
BEL AIR
UCLA
OCEANPARK
WEST
LOS ANGELES
ATWATERVILLAGE
HOLLYWOODHILLS
WEST HOLLYWOOD
SILVERLAKE
HANCOCKPARK
HOLLYWOOD
BEVERLYHILLS
CHEVIOTHILLS
CENTURYCITY
PALMS
LAWNDALEMANHATTAN BEACH
ATHENS
LAX
MORNINGSIDEPARK
FLORENCE
HYDEPARK
LEIMERTPARK
WESTCHESTER
WESTADAMS
KOREATOWN
WILSHIRE CENTER
WESTWOOD
LENNOX
INGLEWOOD
EL SEGUNDO
HAWTHORNE
LOS ANGELES
GARDENA
CULVER CITY
Existing Metro Rail & Station
Metro Silver Line & Station
Purple Line Extension (under construction)
Purple Line Extension(approved alignment)
Exposition Transit Corridor Phase 2 (under construction)
Harbor Subdivision
Light Rail (LRT) Alignment & Station
At-Grade LRT
Below Grade LRT
Aerial LRT
Maintenance Yard Site
Parking
Subject to Change 14-0207 ©2013 LACMTA
Crenshaw/LAX Transit Corridor(under construction)
Línea y estación de Metro existente
Metro Silver Line y estación
Extensión de Purple Line (bajo construcción)
Extensión de Purple Line (alineamiento aprobado)
Corredor de Transporte Exposition fase 2(bajo construcción)
Harbor Subdivision
Estación y alineamiento de tren ligero (LRT)
LRT a nivel de la calle
LRT debajo de nivel
LRT a nivel elevado
Sitio de mantenimiento
Estacionamiento
Sujeto a cambios 16-0208 ©2015 LACMTA
Corredor de Transporte Crenshaw/LAX(bajo construcción)
16-0208 ©2015 LACMTA
Crenshaw/LAX Transit ProjectCRENSHAW-LAX TRANSIT PROJECTThe Metro Crenshaw/LAX Line will extend from the existing Metro Exposition Line at Crenshaw and Exposition Boulevards. The Line will travel 8.5 miles to the Metro Green Line and will serve the cities of Los Angeles, Inglewood and El Segundo, and portions of unincorporated Los Angeles County. The new Metro Rail extension will offer an alternative transportation option to congested roadways and provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. Riders will be able to make easy connections within the entire Metro Rail system, municipal bus lines and other regional transportation services.
The Crenshaw/LAX Transit Project will serve the Crenshaw District, Inglewood, Westchester and surrounding area with eight stations at:
1. Expo/Crenshaw 2. Martin Luther King Jr. 3. Leimert Park 4. Hyde Park 5. Fairview Heights 6. Downtown Inglewood 7. Westchester/Veterans 8. Aviation/Century
In addition to the alternative transportation option to congested roadways, the project will also provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County.
The Crenshaw/LAX Project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by Los Angeles County voters in 2008.
SUBJECT PROPERTY
2959 South Crenshaw Bou levard | Los Ange les , CA 90016 | 7 www.charlesdunn.com
DEMOGRAPHICS
South Los Angeles1 Mile Ring 3 Mile Ring 5 Mile Ring
Population Trend
2010 Total Population 43,408 407,419 1,238,410
2016 Total Population 45,622 423,208 1,285,186
2021 Total Population 47,240 435,477 1,323,029
Population Change 2010 to 2021 8.8% 6.9% 6.8%
Population Change 2016 to 2021 3.5% 2.9% 2.9%
2016 Race and Ethnicity
White alone 20.7% 27.4% 36.6%
Black or African American alone 40.0% 28.1% 18.9%
Asian alone 5.2% 12.8% 12.6%
Other Race 34.2% 31.7% 31.9%
Hispanic 50.8% 47.7% 48.6%
2016 Age
Median Age 35.5 34.8 34.2
2016 Occupation
Civilian employed population 16 years and over 20,307 196,615 620,681
White collar 47.0% 53.9% 56.3%
Blue collar 53.0% 46.1% 43.7%
2016 Educational Attainment
Population 25 years and over 30,419 284,349 871,297
No High School Diploma 28.3% 27.4% 27.5%
High school graduate, GED, or alternative 23.7% 21.3% 18.9%
College No Degree 23.5% 19.0% 17.7%
College or Advanced Degree 24.5% 32.2% 35.9%
2016 Marital Status
Married 35.6% 36.7% 36.4%
Not Married 64.4% 63.3% 63.6%
2016 Household Size
Average Household Size 2.9 2.8 2.7
1 Mile Ring 3 Mile Ring 5 Mile Ring
Household Trend
2010 Households 15,026 144,370 457,252
2016 Households 15,409 146,246 462,504
2021 Households 15,663 147,649 466,942
Household Change 2010 to 2021 4.2% 2.3% 2.1%
Household Change 2016 to 2021 1.6% 1.0% 1.0%
Household Income Trend
2000 Median Income $27,307 $29,311 $29,811
2010 Median Income $40,007 $39,411 $40,816
2016 Median Income $39,479 $39,470 $41,526
2021 Median Income $43,427 $43,590 $45,720
Median Income Change 2000 to 2010 46.5% 34.5% 36.9%
Median Income Change 2000 to 2016 44.6% 34.7% 39.3%
Median Income Change 2010 to 2021 8.5% 10.6% 12.0%
Median Income Change 2016 to 2021 10.0% 10.4% 10.1%
2016 Household Income
Up to $24,999 34.6% 33.5% 31.8%
$25,000 to $49,999 25.6% 26.1% 25.6%
$50,000 to $74,999 17.2% 15.4% 15.3%
$75,000 to $124,999 15.2% 14.2% 14.6%
$125,000 to $199,999 5.6% 6.9% 7.4%
$200,000 or more 1.8% 4.0% 5.3%
2016 Home Value
Median Home Value $365,842.10 $435,319.10 $461,800.70
Average Home Value $428,108.40 $579,669.30 $670,888.80
2016 Occupancy
Households 15,409 146,246 462,504
Owner Occupied 36.1% 28.7% 25.1%
Renter Occupied 63.9% 71.3% 74.9%
© Charles Dunn Company, Inc. These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including land use limitations.
CHARLES DUNN COMPANY | 800 West Sixth Street, Suite 800 | Los Angeles, CA 90017 | Lic. #01201641 | charlesdunn.com
TRACY TAFTDirector
Lic. #00903455Direct | 213.270.6207
2 9 5 9S O U T H C R E N S H A W B O U L E V A R D
L O S A N G E L E S , C A 9 0 0 1 6