$282.72 Per Sq Foot $48,314 est/mo Sourced by Back At You

2302 S Western Avenue,San Pedro, CA 90732

San Pedro CA, 90732

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Description

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. Home to 21 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. 88 on-site parking spaces ensuring easy access for customers. Walk Score of 69, proximity to the beach, various shops, restaurants, the Trump Nt'l 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. Value Add Opportunity: There are opportunities to increase the center to well over 10% CAP. Base Rents are approximately 18% under market * Opportunity to Increase CAM * Opportunity to develop center into residental or mixed use * Management has recently invested nearly $350,00 in improvements and upgrades. Credit Towards Sales Price - The center has an onsite cleaning Dry Cleaner which has been in business approximately 6o years and is now using nonperc cleaning solutions. Due to past use, Seller will provide a credit towards the sale price and will be expecting the final Purchase and Sales Agreement to reflect an "as-is" transaction with potential buyers providing at closing a recorded release and indemnity in favor of Seller. Outstanding opportunity for a Buyer to increase his financial positioning. Call for Offering Memorandum. Price: $9,000,000 | Occupancy: 100% | 6% CAP. One listing agent is part owner.

Details

MLS#SB23192100
Listing TypeFor Sale
StyleRetail
Building NameHarbor Village
Sub-TypeResale
StatusActive
Year1962
Days On Site222
Listing Provided ByThe Duran Reed Firm, Inc. 310-519-7670 | Clara Duran-Reed

Features

SQ Feet31,834
Story(s)2
Units42
Zoning[Q]C2-1XL
Acreage1.59

Market Activity 90732

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Listings Checked: 2 minutes ago
StateCA
CountyLos Angeles
CitySan Pedro
Zip Code90732
Area179 South Shores
Listing VS Median (in 90732)
Price:
$9,000,000
low | high
Med:
$795,000
100% of Average
SqFt:
31,834
low | high
Med:
1,598
100% of Average
$ / SqFt:
$283
low | high
Med:
$497
25.970171047142% of Average
On Site:
222
low | high
Med:
2.000000
100% of Average
Sourced by Back At You
Listing Updated: May 6, 2024 at 12:53:57 PM PDT