It’s demolition city in La La Land right now, with properties being pitched as teardowns.
Two mid-century properties hit the market late last week, and both were marketed as major development opportunities in prime locations, The Real Deal has learned.
In Koreatown, a 7,200-square-foot Class C office building is for sale for a sliver below $13 million, and in West Hollywood, two retail structures are going for $12.5 million.
The commercial building at 732 South Vermont Avenue is in the heart of Ktown, where there’s “basically a little bit of everything,” according to listing agent Jinny Cho with Harvard Realty.
Touting its up-and-coming location near the intersection of Vermont Avenue and Wilshire Boulevard, the broker told TRD that the 1940-built, single-story building makes for a perfect development property.
“I can see it as retail shops, or even condos,” she said.
It’s currently occupied by the seller, Amino Development, LLC, a dental group.
The second property at 980 North La Cienega features two contiguous buildings totaling 16,237 square feet. Zoned for commercial usage, the site is currently 100 percent leased and under the ownership of Las Vegas & Development, according to CoStar.
The entity is affiliated with one of the tenants, artist Jasmin Shokrian.
Marketing materials emphasize the location of the 1956-built property, citing “true value-add potential.”
Neither Shokrian nor the listing agent, John Chang of Spectrum Commercial Advisors, could be reached for comment.