LOS ANGELES, CA
San Vicente Multi-Tenant
5613-5617 San Vicente Boulevard, Los Angeles, CA 90019
Address:
Property Type:
Multi-Tenant
$2,475,000
Price:
Building Square Feet:
4,500 SF
Pro-Forma CAP Rate:
6.01%
Lot Size:
0.11 Acres
Price Per Square Foot:
$550.00
1925/2001
Year Built/Renovation:
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About the Property
4,500-Square-Foot Multi-Tenant Storefront Retail Property Situated on 0.11 Acres
Features Three (3) Separate Units Allowing Flexible Configuration Potential for Owner-Users
100% Occupancy on Month-to-Month and Short Term Leases and Below-Market Billboard Income Creating Value Add Opportunity
Zoned C2, Allowing for a Variety of Commercial Uses Including Retail and Service-Oriented Tenants
About the Location
Highly Visible San Vicente Corner Location with Combined Street Frontage Exceeding 135 Feet
Centrally located between Beverly Hills, West Hollywood, and Downtown Los Angeles, providing strong regional connectivity
Situated within walking distance of Museum Row attractions, including LACMA, Petersen Automotive Museum, and the Academy Museum of Motion Pictures
Desirable Miracle Mile Submarket with 7.1% Vacancy Rate Among Comparables
Marcus & Millichap is pleased to present the opportunity to acquire the multi-tenant retail property located at 5613–5617 San Vicente Boulevard in Los Angeles, California. The subject property consists of approximately 4,500-square-foot of rentable building area and is situated on a 0.11-acre C2-zoned corner lot in the heart of the Miracle Mile district, one of Los Angeles’ most vibrant and densely populated urban submarkets. The fully occupied asset is comprised of three (3) separately metered units. In addition to the suite sizes allowing for high tenant demand, the short lease terms in place provide a value-add opportunity for investors and growth flexibility or mortgage cost reduction for owner-user’s. The property is constructed of durable masonry and boasts 71 feet of frontage along San Vicente Boulevard and 68 feet along Carmona Avenue, offering 135 feet of combined street frontage and excellent visibility in a highly trafficked corridor.
Located along San Vicente Boulevard within the high-profile Miracle Mile corridor of Los Angeles, this compact, walkable retail submarket is anchored by Museum Row, a dense mix of multifamily housing, and a concentration of creative office space. The area’s retail inventory is smaller than most competing Westside markets, consisting primarily of street-level storefronts and small retail buildings, many of which date back to the early-to-mid 20th century and have since been renovated to accommodate modern tenants. At 7.1%, the vacancy rate in Q3 2025 sits modestly above the Los Angeles County average of approximately 5.8 percent, with turnover driven largely by normal tenant churn rather than new deliveries. With zero newly constructed retail inventory in the past decade and none under construction in Q3 2025, new supply will have no impact on vacancy rates and rent growth for the forseeable future (CoStar). The Miracle Mile submarket offers investors a stable, infill location with strong daily traffic counts, limited competition from new developments, and the potential for rent upside through tenant repositioning or re-leasing at market rates
Investment Overview
The Los Angeles metropolitan area is home to a diverse population of 10.1 million, including over 4 million residents within city limits. The second largest city in the U.S. boasts an 81-mile coastline along the Pacific Ocean and is encircled by the picturesque Santa Monica and San Gabriel mountains, including the towering Mount San Antonio. Simply known as L.A., the city features a well-connected transportation network, including major interstates, Amtrak, Metrolink, and Los Angeles International Airport (LAX). The entertainment industry, nine Fortune 500 companies, and a prominent aerospace sector drive the economy. Los Angeles' industrial activity is anchored by the Ports of L.A. and Long Beach, which plays a major role in the domestic supply chain as the leading point of imports from East Asia. With a growing population and high home prices, Los Angeles remains a vibrant and culturally rich metropolis.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved.