Sold

Closed

1815 Pacific Coast Highway

Lomita CA, 90717

$2,050,000


$406.50 per sqft

Sold

Closed

5,043 sqft

Residential

Built in 1959

Listed by John Katnik with BRC Advisors- BH 310-956-2291

We are proud to present a multi-tenant retail opportunity in the city of Lomita! Consisting of two separate parcels side by side directly on Pacific Coast Highway, this property offers a unique opportunity to acquire a multi-tenant retail investment in the heart of the South Bay! Sitting on an oversized 21,020 sq ft lot, the offering features a total of 8 total retail spaces and 2 separate structures. The building located at 1807-1813 PCH consists of four identical retail spaces with 100% occupancy currently occupied by three tenants. The building located at 1815-1819.5 consists of four retail spaces, three of which are currently occupied by one tenant and the other is currently vacant. All leases are modified gross allowing for a new owner to add value by implementing triple nets once the tenant leases turnover. Currently, the owner pays property taxes, water, trash & parking lot cleaning for both buildings and pays for gas on 1807-1813 PCH. For 1815-1817.5 PCH, tenants pay for gas. Tenants pay for electricity and internet service. Recent capital expenditures include new electrical systems, new AC units and new roofs throughout most of the property. The asset has attractive recession proof tenants and long-term staggering leases providing steady income for a new owner. With one unit currently vacant, this is also the perfect owner-user opportunity. There is ample parking in the back of the property for tenants and guests to enjoy (about 29 uncovered spaces). Sitting on one of busiest highways in LA, the area boasts terrific traffic counts of approximately 61,270 VPD on Pacific Coast Highway and approximately 30,488 VPD on Western Ave. The property is about 4 miles from the 110 freeway and about 5 miles from the beach, making this a highly desirable location. Do not miss your opportunity to acquire a pride of ownership piece of real estate in the South Bay!

24429711

MLS ID

August 19, 2024

Listed

October 7, 2024

Updated

Map

1815 Pacific Coast Highway
Lomita CA, 90717

Interior Features

Total Stories

1


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.48 Acres

Other Property Details

Area Name

121 - Lomita


Days on Market

8


Garage

No


Parking

Uncovered


Parking Total

29


View

No


County

Los Angeles


Pool

No


Zoning

LOCG*

Listing History

Date

Event

Price

9/24/2024

Sold

$2,050,000

9/12/2024

Pending

8/27/2024

Under contract

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/7/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 10/7/2024 at 12:16 PM UTC

 

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