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24234 24248 Crenshaw Boulevard

Lomita, CA 90505
  • $2,500,000
  • STATUS: Active Under Contract
  • ON SITE: 19 Days
  • ID#: SB22201730
Under Contract
UPDATED: 13 min ago
$2,500,000
  • 0
    BEDS
  • 0.4
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1962
County:
Area:

School Ratings & Info

Listing Agent(s): Stephen Lampe of Re/Max Commercial & Investment (310 802-2500)


Description

The subject property is a commercial property located at 24234 24248 Crenshaw Boulevard in the City of Lomita on a 17,443 square foot lot with M-C zoning (Light Manufacturing & Commercial). This zoning allows a broad range of light industrial, commercial and retail uses. The parcel is situated at the traffic signal directly across from the entrance to Torrance Crossroads Shopping Center which boasts many national tenants such as Home Depot, Home Goods, IHOP, In-N-Out Burger, Vons Groceries, PetCo, Party City, Subway, Jersey Mikes, La Salsa, Jamba Juice, Starbucks and many more restaurants. The traffic count is huge with 107,463 VPD (Vehicles Per Day).The improvements consist of 10,911 square feet (per assessors records) between 2 buildings. The 2 story main building 24248 Crenshaw was built in 1955 (approximately 8,563 rentable square feet and it is currently rented to small retail/office/commercial tenants on a month to month basis. There are a total of 41 suites surrounding a courtyard with planters. There are restrooms on the 1st and 2nd floor. Out of the total, 11 suites rented, and the remaining 30 suites are vacant, and many would need to be made rent ready by a buyer prior to leasing. There is a detailed rent roll in the Offering Memorandum showing each suite and the approximate size. There are 22 parking spaces onsite and there is additional parking across the street with a dedicated crosswalk.There is a second free standing single story building constructed in 1962 that is 1225 square feet. It was used by a restaurant many years ago and is currently being used for office flex-warehouse space. This investment offering provides an excellent opportunity for an investor seeking an asset for repositioning and leasing up the vacant units at market rents. There is also the potential for a new development opportunity on this site since the tenants are all month to month.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-10-04T14:34:16.283. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Murphy Real Estate Team | Pabalyn Properties. Licensed in the State of California, USA.
www.murphyhousing.com/homes/133094147
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24234 24248 Crenshaw Boulevard Lomita, CA 90505

  • Price: $2,500,000
  • Status: Active Under Contract
  • On Site: 19 Days
  • Updated: 13 min ago
  • ID#: SB22201730
0
Beds
0
Baths
0
½ Baths
0.4
Acres
1962
Built
Neighborhood:
121 - Lomita
County:
Los Angeles
Area:
121 - Lomita
Property Description
The subject property is a commercial property located at 24234 24248 Crenshaw Boulevard in the City of Lomita on a 17,443 square foot lot with M-C zoning (Light Manufacturing & Commercial). This zoning allows a broad range of light industrial, commercial and retail uses. The parcel is situated at the traffic signal directly across from the entrance to Torrance Crossroads Shopping Center which boasts many national tenants such as Home Depot, Home Goods, IHOP, In-N-Out Burger, Vons Groceries, PetCo, Party City, Subway, Jersey Mikes, La Salsa, Jamba Juice, Starbucks and many more restaurants. The traffic count is huge with 107,463 VPD (Vehicles Per Day).The improvements consist of 10,911 square feet (per assessors records) between 2 buildings. The 2 story main building 24248 Crenshaw was built in 1955 (approximately 8,563 rentable square feet and it is currently rented to small retail/office/commercial tenants on a month to month basis. There are a total of 41 suites surrounding a courtyard with planters. There are restrooms on the 1st and 2nd floor. Out of the total, 11 suites rented, and the remaining 30 suites are vacant, and many would need to be made rent ready by a buyer prior to leasing. There is a detailed rent roll in the Offering Memorandum showing each suite and the approximate size. There are 22 parking spaces onsite and there is additional parking across the street with a dedicated crosswalk.There is a second free standing single story building constructed in 1962 that is 1225 square feet. It was used by a restaurant many years ago and is currently being used for office flex-warehouse space. This investment offering provides an excellent opportunity for an investor seeking an asset for repositioning and leasing up the vacant units at market rents. There is also the potential for a new development opportunity on this site since the tenants are all month to month.
Exterior Features

Lot Features Rectangular LotStreet Level Sign On Property YN Yes

Property Features

Additional Parcels YN No Business Type AccountingAdministrative And SupportBuild To SuitCommercialEmploymentFinancialGift ShopHome CleanerHealth ServicesIndustrialManufacturingMixedMulti-TenantProfessional/OfficeOffice SupplyPhotographerProfessional ServiceReal Estate Cap Rate 6.15 Common Interest None Electric Expense 12000 Gross Scheduled Income 302868 Insurance Expense 5295 Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Maintenance Expense 12000 Net Operating Income 153813 Operating Expense 127854 Other Expense 2241 Property Sub Type Office Special Listing Conditions Standard Tax Annual Amount 29000 Tax Year 2023 Trash Expense 4800 Vacancy Allowance 21201 Water Sewer Expense 12000 Water Source Public Zoning M-C



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-10-04T14:34:16.283. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Murphy Real Estate Team | Pabalyn Properties. Licensed in the State of California, USA.
 
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Murphy Real Estate Team | Pabalyn Properties
300 Carlsbad Village Dr.
Carlsbad CA, 92008
Listing Agent(s): Stephen Lampe of Re/Max Commercial & Investment (310 802-2500)