1109–1117 N Western Avenue
East Hollywood Retail & Office with Income and Upside
Marketing description
Marcus & Millichap is pleased to present 1109–1117 N Western Avenue, a single-story, multi-tenant retail building of approximately 7,000 square feet on 15,000 square feet of C4 commercial land in East Hollywood. The asset is offered on a standalone basis at $2,800,000.
Four ground-floor retail units and a double-sided rooftop Clear Channel billboard are leased on a month-to-month basis. The building is fully occupied and produces in-place income today, while the absence of any long-term lease leaves a buyer free to hold, re-tenant to market, reposition, or deliver vacant. In-place rents sit well below market, and CoStar places asking retail rents on this block at $42.87 per square foot, against current contract rents that range from roughly $10 to $30 per foot.
The land is the deeper story. With a development basis near $187 per land square foot, the site carries a favorable C4 zoning profile layered with TOC Tier 3, a federal Opportunity Zone, AB 2097, ED 1 eligibility, and the Hollywood CPIO. It sits two blocks from the $450 million Echelon Studios campus, now under construction, and within walking distance of the recently completed 735-unit Sunset & Western development anchored by a 60,000-square-foot Whole Foods.
The result is a rare combination on one of Los Angeles' most actively rebuilt corridors: stabilized cash flow in place, full control of the rent roll, passive billboard income, and meaningful long-term optionality in the land.
Investment highlights
- IN-PLACE INCOME, NO LONG-TERM LEASES - All four retail tenants and the rooftop billboard operate month-to-month. The building is 100% occupied, giving a buyer income from day one with complete freedom to hold, re-tenant, reposition, or deliver vacant.
- SUBSTANTIAL EMBEDDED RENT UPSIDE - Current gross income of $131,004 compares with a market estimate of $249,300. CoStar reports asking retail rents on this block at $42.87 per square foot, well above the property's in-place contract rents.
- PASSIVE ROOFTOP BILLBOARD INCOME - A double-sided Clear Channel structure on the roof contributes income independent of the retail and requires no landlord operating cost.
- FRONTAGE, CORNER PRESENCE & PARKING - Roughly 100 feet of frontage on N Western Avenue, a hard-corner retail presence, and a rear surface parking lot accessed via the alley—uncommon in a corridor this dense.
- LAYERED DEVELOPMENT OPTIONALITY - 15,000 SF of C4 land within TOC Tier 3, a federal Opportunity Zone, AB 2097, ED 1, and the Hollywood CPIO—a platform for commercial, mixed-use, or residential redevelopment over time.
- A CORRIDOR IN ACTIVE TRANSFORMATION - Two blocks from the $450M Echelon Studios (delivering 2026) and walking distance to the completed 735-unit Sunset & Western with a 60,000 SF Whole Foods. More than 4,000 residential units are planned or underway nearby.
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