425 E 58th Street, Los Angeles CA, 90011
(Active)
$2,999,888
|
19,688 sqft
|
MLS# AR24020829
Last Updated: 5/8/2024 4:35 PM
Description for
425 E 58th Street
Los Angeles, CA 90011
PRICED FOR A QUICK SALE - PROPERTY IS NOW AVAILABLE TO BE SEEN STARTING LATE MARCH This will not last and is the best priced industrial building in this area of town! Large Industrial/Manufacturing Building or Warehouse in a Great Location of Los Angeles. Potential Cap Rate of 8% to 10%. Great 1031 Exchange or OWNER USER building. This is priced way below the market for an immediate sale! Seller may consider Seller Financing with a strong down payment and terms! SELLER IS VERY MOTIVATED AND JUST LOWERED THE PRICE BY $500,000. NEW PRICE IS $2,999,888. SELLER HAS ANOTHER INVESTMENT OPPORTUNITY AND NEED SOT CLOSED FAST. THIS NEW PRICE IS ALMOST 1 MILLION DOLLAR BELOW THE MARKET. YOU WILL NOT FIND A BETTER DEAL. THIS PROPERTY HAS A LOT OF UPSET AND IS PERFECT FOR A 1031 EXCHANGE!!!IF WE CAN CLOSE IN BY MID TO LATE APRIL, WE WILL MAKE A DEAL WORK!!!! Property has Heavy Power (800 AMP/240 Volt/3 Phase) and New Lighting. Market rents for the area are $1.00 to $1.25 PSF NNN. Using a NNN monthly lease rate of $1.25 PSF or $25,000 a month, you would get a 10% Cap Rate (Return). At $1.00 PSF NNN or around $20,000, you would be at 8.0% Cap Rate (Return). Thus, the potential return can be amazing if you get the right tenant. Zoned LAM2 - Light Industrial and Potential Non-Retail Cannibas Uses. Please check with the city to confirm use. The subject property is approximately 19,668 square feet and the lot is approximately 15,246 square feet (as provided by public records). The 1st floor is around 15,000 square feet and the second floor is around 4668 square feet. The Industrial Building fronts 58th Street and has a great office/showroom, large second floor, six bathrooms and lots of street parking. There is also a 12' x10' street front drive up rolling door. Property walls have been updated recently with new paint, lighting and electrical. Don't miss this opportunity to purchase such a great deal!Property is very well located in the heart of Los Angeles and only minutes from the 110 Freeway. It is a short drive from most of Los Angeles including Downtown, Ports of LA and the 405/710/105/5/101/91/60 Freeways
Price
$2,999,888
Los Angeles
19,688 (approx)
AR24020829
Active
Description
PRICED FOR A QUICK SALE - PROPERTY IS NOW AVAILABLE TO BE SEEN STARTING LATE MARCH This will not last and is the best priced industrial building in this area of town! Large Industrial/Manufacturing Building or Warehouse in a Great Location of Los Angeles. Potential Cap Rate of 8% to 10%. Great 1031 Exchange or OWNER USER building. This is priced way below the market for an immediate sale! Seller may consider Seller Financing with a strong down payment and terms! SELLER IS VERY MOTIVATED AND JUST LOWERED THE PRICE BY $500,000. NEW PRICE IS $2,999,888. SELLER HAS ANOTHER INVESTMENT OPPORTUNITY AND NEED SOT CLOSED FAST. THIS NEW PRICE IS ALMOST 1 MILLION DOLLAR BELOW THE MARKET. YOU WILL NOT FIND A BETTER DEAL. THIS PROPERTY HAS A LOT OF UPSET AND IS PERFECT FOR A 1031 EXCHANGE!!!IF WE CAN CLOSE IN BY MID TO LATE APRIL, WE WILL MAKE A DEAL WORK!!!! Property has Heavy Power (800 AMP/240 Volt/3 Phase) and New Lighting. Market rents for the area are $1.00 to $1.25 PSF NNN. Using a NNN monthly lease rate of $1.25 PSF or $25,000 a month, you would get a 10% Cap Rate (Return). At $1.00 PSF NNN or around $20,000, you would be at 8.0% Cap Rate (Return). Thus, the potential return can be amazing if you get the right tenant. Zoned LAM2 - Light Industrial and Potential Non-Retail Cannibas Uses. Please check with the city to confirm use. The subject property is approximately 19,668 square feet and the lot is approximately 15,246 square feet (as provided by public records). The 1st floor is around 15,000 square feet and the second floor is around 4668 square feet. The Industrial Building fronts 58th Street and has a great office/showroom, large second floor, six bathrooms and lots of street parking. There is also a 12' x10' street front drive up rolling door. Property walls have been updated recently with new paint, lighting and electrical. Don't miss this opportunity to purchase such a great deal!Property is very well located in the heart of Los Angeles and only minutes from the 110 Freeway. It is a short drive from most of Los Angeles including Downtown, Ports of LA and the 405/710/105/5/101/91/60 Freeways
Listing Information
| Property Type: Industrial, Business Opportunities, 1 Story | ||
| 0.35 Acres | Assessor | 19,688 (approx) |
| 1925 | 1 | |
Public
Electricity Connected,Water Connected
Neighborhood
Room Information
None
Exterior / Lot Features
0 Covered Parking Spaces,
Driving Directions
Off Slauson and 110 Freeway
Financial Considerations
| 5101005011 |
Cash,Conventional,1031 Exchange,Owner May Carry
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California. Los Angeles, California 90011 has a population of 3,956,168.
The median household income in Los Angeles, California 90011 is $42,062. The median household income for the surrounding county is $73,262 compared to the national median of $66,222. The median age of people living in Los Angeles 90011 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 2/20/2024 | Active | $2,999,888 USD -14.26% |
|
| 1/30/2024 | Active | $3,498,888 USD |
|