CA > Gardena
Gardena, CA 90248,223 W Rosecrans AVE
Gardena, CA 90248,223 W Rosecrans AVE
Gardena, CA 90248,223 W Rosecrans AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$30,610,000
Est. payment /mo
3.25 Acres Lot
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UPDATED:

09/30/2024 06:47 PM

Key Details

Property Type Commercial

Sub Type Warehouse

Listing Status Active

Purchase Type For Sale

MLS Listing ID RS22255455

HOA Y/N No

Year Built 1972

Lot Size 3.251 Acres

Property Description

Location. Location. Property is located 223 W Rosecrans Ave, Gardena ,CA 90248.
It is located in the city of Gardena, the best logistics center adjacent to the Long Beach Port and also adjacent to LA Airport.
Gardena is Los Angeles’ industrial hub surrounding the 110 Freeway located 12 miles south of Downtown Los Angeles.
The city of Gardena warehouse sales and lease market is a highly sought-after industrial real estate market with 2022 proving
to be an extremely high demand market year.
Currently, the best of the market demand for warehouse rental and sales is between 80,000 sf to 100,000 sf.
According to various business press statistics, the South Bay area always has a vacancy rate of lease 1%.
The reason is that there is no land that can be developed, and labor costs are too high to build.
On the other hand , with the increase in the distribution industry across the country, many people have been looking for
warehouses, but due to a lack of supply, price increases and vacancy rates are expected to remain at the lowest level.
Current our's leased contract rents are equal to $1.00/sf Industrial Gross which equates to 39% below market rents
current rental market a conservative estimate of $1.65/sf Gross market rent rate.
Therefore, since the current market rate price is much higher than the lease price, we can be sure of the lease price increase factor.
In the second year of investment(2024) ,the cap rate increase is 3.4%, and from the third year(2025), the cap increase is 5.3%.
The Subject Property approximately 78,088 sf of warehouse/distribution situated on 3.251 acres of land.
. There is a 10% office-to-warehouse ratio located in the front portion of the building with a kitchen and reception area.
The 2nd floor warehouse mezzanine is 7,000 sf,
but not included rental spaces in total rental sf.
The building is built of brick and concrete and ceilings and interior facilities are in excellent condition.
For vehicle traffic, there are two entrances that can pass through 360 degrees based on the building.
Although the current real estate market situation is at its worst due to rising inflation and rising interest rates, it is expected that
it will be a wise investment method to purchase an industrial logistics warehouse as the best investment. We will provide the best offers to the best investors. Very good 1031 Exchange building.

Location

State CA

County Los Angeles

Area 120 - South Gardena

Zoning LCM11/2'

Interior

Fireplace No

Laundry None

Exterior

Fence Cross Fenced, Excellent Condition

Utilities Available Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available

Building

Lot Description 0-1 Unit/Acre, Paved, Rectangular Lot, Sprinkler System

Story 1

Water Public

Others

Tax ID 6132043074

Acceptable Financing Cash to Existing Loan, Cash to New Loan, 1031 Exchange, Government Loan

Listing Terms Cash to Existing Loan, Cash to New Loan, 1031 Exchange, Government Loan

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Edward Oh • Berkshire Hathaway HomeService • edwrdoh@gmail.com

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