Do you have millions of dollars saved up? Are you looking to invest in commercial real estate properties currently for sale in LA County? If you answered yes to both of these questions, then you might want to consider the following list of properties. This list was compiled from information provided by CoStar, and includes the most expensive office, flex and multifamily properties listed for sale in February 2017. Properties on this list are still for sale as of the date of publication and information is current as of this date.
5. MID-CITY: Ross Plaza Professional Center
1818 S. Western Ave.– Los Angeles, CA 90006
Listing Broker: NewStar Realty & Investment
Total space: 43,225 sq. ft.
Price per square foot: $347.02
Year completed: 1971
Just south of Koreatown and north of the 10 freeway, this office building is being offered for $15 million. Situated on over an acre of land, the 5-story midrise is looking for an investor or owner/user.
4. AZUSA: Tribeca Apartment Homes
200-220 S. Azusa Ave. – Azusa, CA 91702
Listing Broker: Triqor Group
Total space: 78,656 sq. ft. (96 units)
Price per square foot: $268.26 (Price per unit: $219,792)
Year completed: 1960
Tribeca Apartment Homes, a 96-unit apartment complex in the Inland Empire, is available for sale. It is located adjacent to the 210 freeway on Azusa Ave, one of the city’s major thoroughfares. It is also one mile south of Downtown Azusa and Metro Gold Line station, which provides light rail transportation to Downtown LA.
3. BEVERLY HILLS ADJACENT: Beverly Hills Towers
125 N. Doheny Dr. – Los Angeles, CA 90048
Listing Broker: CBRE
Total space: 33,992 sq. ft. (36 units, including office)
Price per square foot: $654.57 (Price per unit: $618,056)
Year completed: 1986
The apartment building at 125 N. Doheny Drive is 5 stories tall and is composed of 35 units. It is in a highly sought-after location, immediately adjacent to Beverly Hills. A 16-unit multifamily property, just two doors up the street at 135 N. Doheny Drive, is also for sale by the same owner.
2. WEST LA: Wilshire Westgate
11859 Wilshire Blvd. – Los Angeles, CA 90025
Listing Broker: CBRE
Total space: 47,698 sq. ft.
Price per square foot: $627.91
Year completed: 1987, renovated 2014
Going under extensive renovations in 2014, this Wilshire Boulevard office building is now on the market for just under $30 million. According to the CoStar listing, up to 32,000 sq. ft. can be delivered vacant when escrow closes.
1. PICO-UNION: The BankNote Press Building
1330 W. Pico Blvd. – Los Angeles, CA 90015
Listing Broker: Colliers International
Total space: 152,752 sq. ft.
Price per square foot: $294.60
Year completed: 1967, renovated 2001
This property might be familiar to our loyal blog readers, as it was #2 in May 2016’s most expensive CRE listings in LA County. At $45 million, it claims the #1 spot as the most expensive property listed in February. This is a $3 million increase over last year, when it was listed by CBRE. Now, Colliers is representing the seller.