1158 E 88TH PLACE, LOS ANGELES CA 90002

  • 2,891 sq.ft.
  • 5,124 sq.ft. lot
offered at $995,000
MLS#:PW22116722
Status: Active // Property Type:
County: Los Angeles // Year Built: 1931

Property Description

We are pleased to present a desirable mix use property which settles on a big 5,124 SF lot and includes a freestanding store plus an ample 3-bedroom and 1-bath house. The house is rented and producing $2,300 of additional income a month. Additionally, the corner presents a Business Opportunity consisting of a well-established and highly profitable store with a B&W license, EBT, ATM, CA-Lottery, and a meat market. Established in 1999 and located in a very visible hard-corner, this store has been a successful family-owned business for over 20 years with declared sales of more than $140,000 a month as of the end of 2019. This strategically located neighborhood business exclusively serves a radius of over 0.5 miles selling daily needs from meat and groceries to cleaning supplies and wine. Two years ago, the property and the business were sold to a multifamily real estate investor, who dabbled in the market/store industry for the first time and who employed a friend of his as the manager to operate this store. Now, this business is being offered to an involved owner-operator or to an experienced investor to revitalize it and to bring it back to its peak performance and beyond. Making $91,000 in gross sales plus $15,000 in lottery sales in July 2022, this is a store that —with proper management— has the potential to become enormously profitable for its new owner. The store consists of approximately 1,500 square feet containing all the proper grocery store equipment including a meat counter with display, a six-doors walk-in refrigeration unit, open-air cooler and open-air freezer, retail shelving, additional storage shelving, additional refrigeration shelving, commercial meat slicer, commercial scale, commercial sink, and more. The store will be delivered fully equipped and fully stocked with merchandise for a smooth transition. This Business Opportunity can be bought on its own. The seller of this business, who is also the owner of the real estate, is willing to negotiate favorable long-term lease conditions with the new business owner/operator.

Listing Courtesy of Alex Colombo, Lyon Stahl Investment Real Est

Exterior Features

Exterior Features: Sidewalks, Street Lights, Urban
FOR MORE INFORMATION, PLEASE CONTACT AGENT:
  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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