2523-2525 W Washington Blvd - Storefront Retail/Office FOR SALE


Los Angeles, CA 90018- Arlington Heights
$3,950,000 USD
310-422-3891
2523-2525 W Washington Blvd, Los Angeles, CA for Sale
$3,950,000 USD
Storefront Retail/Office - FOR SALE
1/14
null | 5.11% Cap Rate

2523-2525 W Washington Blvd
Los Angeles, CA 90018
Arlington Heights


HIGHLIGHTS

  • 2ND PRICE REDUCTION - Now priced at $297 per SF! Highly motivated seller
  • OWNER/USER opportunity - all existing leases are MTM—occupy all or part—a more open floor plan is possible by demoing interior walls
  • NEWLY RENOVATED - sandblasted brick and wooden bow truss, skylights, new plumbing & electrical systems (HEAVY POWER - 600A 3P)
  • PARKING for 6-8 CARS via a secure, interior driveway through a ground-level loading door on Washington Blvd
  • 89% GROUND FLOOR SPACE - Consists of 11,800 SF ground floor space, and 1,500 SF permitted mezzanine space
  • CURRENT 5.1% CAP RATE - with a proforma cap rate of 6.7% at full occupancy

OVERVIEW

Saxum West is pleased to present for sale this sandblasted 13,300 SF brick bow-truss retail/warehouse building in the up-and-coming neighborhood of Arlington Heights. This creative compound is currently divided into (8) spacious creative lofts with private interior parking for 6 cars (or 8-10 cars if parked in tandem). The interior parking area is accessible via an interior driveway with a secure gate and a curb cut along W Washington Blvd in front of the building. Most of the interior walls of the building are non-load-bearing, so a prospective owner-user could create a more open floor plan if desired. The building is currently 90.41% occupied, excluding the interior parking areas. The Tenants are all month-to-month, offering appeal to owner-users looking to occupy all or part of the building, as well as to investors looking for an attractive value-add investment opportunity. The current gross monthly rent is $22,090 per month, with an existing NOI of $201,658, and the proforma monthly rent is $27,377 at full occupancy with a proforma NOI of $265,102. Additional rental income could be achieved by renting or occupying the driveway and parking areas, which are currently part of the load factor. Roughly half of the footprint of the building has high clearance, and measures 16’4” to the bottom of the beams, and 23’4” to the top of the bow truss. In the other half of the property, ceiling heights measure between 11’ to 12’3”. Most of the units have HVAC: suites 101, 102, 104, 105 and 201. The building has heavy power, and all the units are separately metered for electrical. There are multiple interior roll-up doors for easy and convenient loading in & out through the interior shared driveway. Call broker for more information.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$297 USD /SF

CAP RATE

5.11%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

undefined, Showroom, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1907

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,887 SF

ZONING

C2-1VL-O-CPIO

APN/PARCEL ID

5072-030-003

ASK ABOUT THIS PROPERTY

Joe BologneseSaxum WestMore Info
310-422-3891

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Joe BologneseSaxum WestMore Info
310-422-3891

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.