Coldwell Banker Commercial WESTMAC has arranged the sale of 3440-3450 W. 43rd Street in Leimert Park for $2,050,000.
Located along W. 43rd Street near Crenshaw Boulevard in the Leimert Park neighborhood of Los Angeles, 3440-3450 W. 43rd Street includes a ±9,240-square foot mixed-use building on a ±15,769-square foot lot. The building is currently a mix of office and medical uses.
With voter approval of Measure M, the City of Los Angeles has put into motion a mass transit expansion project focusing on adding new housing and economic activity in commercial, industrial and multifamily areas near L.A. transit nodes. The parcels that qualify are measured by the Transit Oriented Communities (TOC) Affordable Housing Incentive Program. 3440-3450 W. 43rd Street falls under TOC Guidelines Tier 4.
“The TOC Incentives have brought a lot of new interest into the Leimert Park area,” said T.C. Macker, CCIM. “As a Tier 4 property, the Buyer has the largest incentives available for maximum redevelopment potential.”
T.C. Macker, CCIM and Daniel J. Park, Esq. of Coldwell Banker Commercial WESTMAC represented the Seller. Jamie Brooks of CBRE represented the Buyer.