1525 pizarro street los angeles€¦ · kitchen/deck furniture is available. bar/ ... from downtown...

1525 PIZARRO STREETLOS ANGELES

POTJANEE SRICommercial Associate

(818) 971-9193potjanee.sri@gmail.comCalBRE#01766066

TOM MASTERANIDirector, Commercial Division

(818) 613-4478tom.masterani@dilbeck.com

CalBRE#00716502

www.1525PizarroSt.com

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Property consists of multiple parcels and is zoned C2-1 (Commercial) allowing for a variety of commercial and multifamily residential developments. Subject site is within the Los Angeles Enterprise Zone and potentially offers tax credits. Property is primarily owner-occupied, dba Pho Siam Thai Spa (Health/Day Spa). A portion of the premises is leased as a nail salon. Additionally, there is a Juice Bar with food service permitted on the roof top deck/lounge. Kitchen/deck furniture is available. Bar/lounge is not currently in operation. Property can be purchased as an investment with leases in place OR building can be delivered vacant to an owner-user or developer. Previous uses at this site include medical office, store and church.

LOCATION OVERVIEW

Located just south of Echo Park Lake at the corner of Glendale Boulevard and Pizarro Street - minutes from Downtown Los Angeles and Dodger Stadium - DTLA submarket.

1517 - 1519 - 1525 PIZARRO STREET, LOS ANGELES

Front Reception Desk

Front Waiting Room Front Waiting Room Front Waiting Room

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Front View

Street View

Juice Bar - Deck

Awards/Recognition

Parking Lot

Front - Nail Spa

Sun Room

Awards/Recognition

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1517 - 1519 - 1525 PIZARRO STREETFLOOR PLAN - 1ST LEVEL

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1517 - 1519 - 1525 PIZARRO STREETFLOOR PLAN - 2ND LEVEL

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• Building Size: 11,369 sqft

• Lot Size: 18,437 sqft/0.42 AC

• Year Built: 1954

• Zoning: LAC2-1

• Number of Stories: 2

• Number of Units: 3

• Parking Spaces: 28

• Parking Ratio: 2.5

• Property Type: Office/Medical Building

• Building Class: B

• Renovated: 2011

• Foundation: Slab

• Walls: Drywall

• Roof: Built-up Composition

• Market: Echo Park

• Submarket: DTLA

• Permits indicate cover was installed in 1999

Side Reception Desk

Pho Siam Building1517-1519-1525 Pizarro St., Los Angeles, CA 90026

(Corner of Glendale Boulevard & Pizarro Street)

Offered at $5,600,000

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Waiting Room

Thai Massage Hallway

Thai Massage Room

Thai Massage Restroom

Thai Massage Hallway

Thai Massage Room

Thai Massage Room

Thai Massage Restroom

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Office

Facial Room 1

Facial Room 3

Facial Room 2

Facial Room Restroom

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Nail Salon Workstations

Co-Ed Room (Under Construction)

Nail Salon Area

Nail Salon Restroom

Nail Salon Workstations

Co-Ed Room (Under Construction)

Nail Salon Workstations

Laundry Room

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Roof Deck Cabanas

Juice Bar

Roof Deck Jacuzzi

Roof Deck

Roof Deck View

TO REQUEST ADDITIONAL INFORMATION, PLEASE CONTACT:

INVESTMENT DETIALS

Purchase Price: $5,600,000

Cap Rate: 4.6%

Building Size: 11,369 (measured)

Lot Size: 0.42 +/- acres

Parking: 28 spaces (gated)

Zoning: C2-1 Commercial, City of Los Angeles

TENANT INFORMATION

Pho Siam Thai Spa $180,000 (Actual)

Allstar $15,600 (Actual)

Nail Salon $24,000 (Actual)

Juice Bar/Deck $36,000 (Proforma)

The property consists of three parcels with additional addresses of 1517 and 1519 Pizarro Street. Building markings only utilize 1525 Pizarro Street.

APN: 5159-021-027, 5159-021-028, 5159-021-029

Improvement Description

A one and partial two-story, 11,369 square feet, commercial development constructed between 1954 and 2011 with extensive remodeling since 2005. On site parking is provided at 2.5 spaces per 1,000 square feet of building area.

AERIAL VIEW

Video Tour Available at www.1525PizarroSt.com

POTJANEE SRICommercial Associate

(818) 971-9193potjanee.sri@gmail.comCalBRE#01766066

TOM MASTERANIDirector, Commercial Division

(818) 613-4478tom.masterani@dilbeck.comCalBRE#00716502

If your property is currently listed with another Broker, this is not intended as a solicitation. Information provided by seller or third-party sources. Information not verified or guaranteed.