11300 Nebraska Avenue

About this residence

11300 Nebraska Avenue is on the market for the first time in nearly 30 years! Located in the heart of Japantown on Sawtelle Boulevard in an A+ West Los Angeles Location. The subject property consists of a Sushi restaurant with a wine & beer license, fronting Sawtelle Boulevard in the best stretch of Japantown, parking in the middle along with three 1 + 1 apartment units in the rear and 4 private garages approximately 200 SF each.One of the four private garages has been converted to an owner/user office. An additional ADU can be built using 1 to 4 of the private garages with no size limit and the loss of parking does not need to be replaced. Buyer to verify with city of Los Angeles. With nearly 4,023 SF of building and a 7,383 SF lot, this investment opportunity generates an investor nearly a 3.47% return on the current with potential upside of nearly 5.52%. The current restaurant tenant is paying 18% of gross income sales as rent. With the restaurant being on a month-to-month term, this allows an owner user the opportunity to take advantage of SBA financing and own a trophy asset with as little as 10% down while operating their own business! The subject property comprises of roughly 7,383 SF lot allowing for a backdoor development opportunity, with TOC Tier 3 incentives, a developer can build 26 units!

Property details

Status

Sold

Property type

Single-Family Home

Price per sq ft

$1,019/sq ft

Days on market

55 days

Listed

September 8, 2021

Year built

1958

HOA fee

$0/mo

Parking

0 spaces

Furnished

No

Waterfront

No

MLS number

21781858

Location & neighborhood

11300 Nebraska Avenue, Los Angeles, CA 90025

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