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2302 S Western Avenue
USD 8,500,000
Property ID: SB23192100
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2302 S Western Avenue ,90732
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icon 69131 SqFt
icon Built in 1962
icon USD 123/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
77302
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1962
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Detailed Introduction Of This Home
Introducing the HARBOR VILLAGE RETAIL & OFFICE CENTER in San Pedro, CA 90732, an outstanding investment opportunity located at 2302 S. Western Ave. in San Pedro, CA. With a total leasable area of 31,834 sq. ft., this one and two story, fully leased property offers a stable and consistent income stream for investors, while providing a terrific Value-Add investment. Currently at 5.92% CAP (includes new taxes). Rents are undervalued by 23%. Increased base rents to market value, plus CAM could bring in a pro-forma CAP of 10.2%. *** Note that tenants pay all taxes. Taxes have recently increased and tenants pay those, in addition to base rent. Non MTM Tenants also pay CAM. Home to 22 local, long standing, well known tenants occupying 42 units. This center enjoys high visibility and wide accessibility, thanks to its frontage and accessibility on both Western Avenue and 25th Street. Western Avenue is the dominant retail corridor and thoroughfare for both the eastern portion of Rancho Palos Verdes as well as the city of San Pedro. Situated near a signalized corner and visible to over 25,300 vehicles daily, it offers a prime positioning for retail success. Individually metered for Gas and Electric. Convenience is key, with major retailers nearby - Starbucks, Rock 'N Juice, Fantastic Sam's, Mobil gas station, Chase Bank, Ace Hardware, and Vons and Smart ‘n Final supermarkets. The center boasts 88 on-site parking spaces, ensuring easy access for customers. With its Walk Score of 69 and proximity to the beach, various shops, restaurants, the Trump National Golf Club, and the upcoming LA Waterfront Promenade, this property is ideally situated for continued success. The Harbor Village Retail & Office Center offers investors the chance to capitalize on the growth potential of the dynamic San Pedro market. Don't miss out on this exceptional opportunity. Price: $8,500,000 | Occupancy: 100% | CAP Rate: 5.9%. Pro-Forma Value Add CAP 10.2% *** Note that tenants pay all taxes. Taxes have recently increased and tenants pay those, in addition to base rent. Non MTM Tenants also pay CAM.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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2302 S Western Avenue
USD 8,500,000 0 Beds
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