$2,050,000
$1,850,000
10.8%For more information regarding the value of a property, please contact us for a free consultation.
5,043 SqFt
SOLD DATE : 09/24/2024
Key Details
Sold Price $2,050,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,043 sqft
Price per Sqft $406
MLS Listing ID 24-429711
Sold Date 09/24/24
Year Built 1959
Lot Size 0.483 Acres
Acres 0.1937
Property Description
We are proud to present a multi-tenant retail opportunity in the city of Lomita! Consisting of two separate parcels side by side directly on Pacific Coast Highway, this property offers a unique opportunity to acquire a multi-tenant retail investment in the heart of the South Bay! Sitting on an oversized 21,020 sq ft lot, the offering features a total of 8 total retail spaces and 2 separate structures. The building located at 1807-1813 PCH consists of four identical retail spaces with 100% occupancy currently occupied by three tenants. The building located at 1815-1819.5 consists of four retail spaces, three of which are currently occupied by one tenant and the other is currently vacant. All leases are modified gross allowing for a new owner to add value by implementing triple nets once the tenant leases turnover. Currently, the owner pays property taxes, water, trash & parking lot cleaning for both buildings and pays for gas on 1807-1813 PCH. For 1815-1817.5 PCH, tenants pay for gas. Tenants pay for electricity and internet service. Recent capital expenditures include new electrical systems, new AC units and new roofs throughout most of the property. The asset has attractive recession proof tenants and long-term staggering leases providing steady income for a new owner. With one unit currently vacant, this is also the perfect owner-user opportunity. There is ample parking in the back of the property for tenants and guests to enjoy (about 29 uncovered spaces). Sitting on one of busiest highways in LA, the area boasts terrific traffic counts of approximately 61,270 VPD on Pacific Coast Highway and approximately 30,488 VPD on Western Ave. The property is about 4 miles from the 110 freeway and about 5 miles from the beach, making this a highly desirable location. Do not miss your opportunity to acquire a pride of ownership piece of real estate in the South Bay!
Location
State CA
County Los Angeles
Area Lomita
Zoning LOCG*
Rooms
Other Rooms None
Interior
Heating Central
Cooling Air Conditioning
Equipment None
Exterior
Garage Uncovered
Garage Spaces 29.0
Building
Story 1
Level or Stories One
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with NONMEMBER MRML
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