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1383 Murchison St.

Los Angeles , California 90033

Listing Type:
For Sale
Listing Price:
$1,795,000.00
Property Type:
Retail
Property Subtype:
Street Retail
Year Built:
1946
Listing Status:
Active
Building Size:
6045 SqFt
Land Area:
0.35 Acres

Description:

KW Commercial is pleased to present this 6,045 SF Multi-Tenant Retail Center within an infill location. It sits on a 15,071 SF corner lot. The property has been fully renovated (inside & out) in 2016.
The lot provides excellent frontage with approximately 100 Feet along Murchison St. & 150 Feet along Lancaster Ave.
This center consists of 3 units. The tenants include: a Laundromat, a church school, and a administrative office for retail operations. The Laundromat is currently on a lease through 2036 with 2.5% yearly increases & (2) 5-year options. The church school is on a month to month tenancy. The retail office is on a lease through 2021 with a 3% yearly increase & (1) 2-year option.
The site has ample on-site parking (approximately 23 spaces) in addition to plenty of street parking.
This property will attract an investor who is looking for a fully occupied retail center offered at a 6.8% CAP RATE on current income with a long term NNN tenant in an area with strong demographics.
• APPROXIMATELY 6,045 SF MULTI-TENANT RETAIL CENTER ON 15,071 SF LOT.
• LONG TERM NNN LEASE WITH AN EXPERIENCED LAUNDROMAT OPERATOR WITH YEARLY INCREASES & MULTIPLE OPTIONS!!!
• 6.8% CAP RATE ON CURRENT INCOME!!!
• GOOD FREEWAY ACCESS; JUST NORTH OF THE 10 FREEWAY AND LESS THAN 1-MILE FROM THE 5 FREEWAY.
• DIRECTLY ACROSS THE STREET FROM RAMONA GARDENS PUBLIC HOUSING COMMUNITY (598 TOTAL UNITS)!!!
• EXCELLENT DEMOGRAPHICS: OVER 45,000 PEOPLE RESIDE WITHIN A 1-MILE RADIUS & OVER 300,000 PEOPLE RESIDE WITHIN A 3-MILE RADIUS.

Presented by:

David  Yashar

Director

(310) 724-8043

(310) 710-5626

Click here to email

Listed by:

Keller Williams Realty Westside

L.A. Westside

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