Sold
24234 24248 Crenshaw Boulevard
Lomita CA, 90505
$2,300,000
$210.80 per sqft
Sold
10,911 sqft
Commercial
Built in 1962
Listed by Stephen Lampe with Re/Max Commercial & Investment 310 802-2500
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 Mike's, 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 assessor's 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.
SB22201730
MLSⓇ ID
September 14, 2022
Listed
March 23, 2024
Updated
Map
24234 24248 Crenshaw Boulevard
Lomita CA, 90505
Interior Features
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.4 Acres
Lot Features
Rectangular Lot, Street Level
Other Property Details
Area Name
121 - Lomita
Taxes
$29,000
Tax Frequency
Annually
Days on Market
6
Garage
No
View
No
County
Los Angeles
Water Source
Public
Pool
No
Zoning
M-C
Buyer Agency Compensation
2.5%
Listing Contact: 310 802-2500
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:47 AM UTC