Portfolio Sale CATALINA PLAZA I & II W 3rd Street Los Angeles, CA TWO RETAIL CENTERS PRIME MID-WILSHIRE

Size: px

Start display at page:

Download "Portfolio Sale CATALINA PLAZA I & II W 3rd Street Los Angeles, CA TWO RETAIL CENTERS PRIME MID-WILSHIRE"

Marian Douglas
5 years ago
Views:

HOLLAND 310.966.4350 holland@westmac.com BRE#00942434 JEFFREY M.

1 Portfolio Sale TWO RETAIL CENTERS PRIME MID-WILSHIRE CATALINA PLAZA I & II W 3rd Street Los Angeles, CA CHRISTIAN C. HOLLAND holland@westmac.com BRE# JEFFREY M. PICKETT pickett@westmac.com BRE# Company BRE#

Portfolio Overview Price: $6,225,000 ($562 per square foot on improvements) Total Improvement Size: Approximately ±11,077 square feet Total Land Size: Approximately ±25,323 square feet Zoning: LAC2

2 Portfolio Overview Price: $6,225,000 ($562 per square foot on improvements) Total Improvement Size: Approximately ±11,077 square feet Total Land Size: Approximately ±25,323 square feet Zoning: LAC2 3rd Street Frontage: Approximately ±300 feet between S. Kenmore (West) and S. Catalina Street (East) Fantastic Exposure and Presence Subject centers comprise the entire block on the South side of 3rd street Tenants: Four (4) tenants total, two (2) in each center, 100% leased to T-Mobile, 7-11, Mariela s Tacos, and Catalina Laundry Combined Net Operating Income: 3658 W 3rd Street = $135, W 3rd Street = $139, or a total of $275, Perfect long term hold with tremendous immediate upside and potential for future development

3658 W 3rd Street Los Angeles, CA 90020 BUILDING

3 3658 W 3rd Street Los Angeles, CA BUILDING LAND APN ZONING STORIES TENANTS Approximately ± 6,630 square feet Approximately ±14,453 square feet # LAC2 One (1) Two (2) tenants/100% leased

3670-3676 W 3rd Street (AKA 300 S Kenmore Avenue) Los

Approximately ± 4,447 square feet Approximately ±10,870

4 W 3rd Street (AKA 300 S Kenmore Avenue) Los Angeles, CA BUILDING LAND APN ZONING STORIES TENANTS Approximately ± 4,447 square feet Approximately ±10,870 square feet # LAC2 One (1) Two (2) tenants/100% leased

5 Area Information Demogrpahics: Approximately ±150,000 people living within a 1 mile radius (CoStar) Approximately ±58,000 daytime employees within a 1 mile radius (CoStar) Vehicular traffic: Approximately ±40,000 vehicles per day going each way (CoStar) Three (3) transit/subway stations located within one (1) mile radius (Red and purple lines) (CoStar) Execellent walkable and transit scores (CoStar) Close proximity to Hollywood, Downtown L.A. and midtown. Easy access to the 10 and 101 Freeway Emerging Retail, Office, and Residential area within the Mid-Wilshire marketplace.

6 Additional Pictures

7 Rent Roll 3658 W 3rd Street (aka Catalina Plaza I) Tenant Approximate SF Lease Expiration Base Rent Type of Lease % of NNN Charges Annual Increases Options Security Deposit Catalina Lavanderia 3,912 5/31/2022 $6, NNN 57.70% None Three 5 year options $5, Mariela s Tacos 2,718 month to month $5, NNN 42.30% None None None Total Monthly NOI $11, Total Annual NOI $135, W 3rd Street (aka 300 S Kenmore & Catalina Plaza II) Tenant Approximate SF Lease Expiration Base Rent Type of Lease % of NNN Charges Annual Increases Options Security Deposit TMWireless dba T-Mobile 2,272 12/31/2022 $5, NNN 51.00% 3% Annually One 5 year option $6, R & S Sharma Inc (7-11) 2,175 12/31/2027 $5, NNN* 49.00% $6, For Months Three 5 year options $6, *NNN s are capped for first 3 years of intiial lease term Total Monthly NOI $11, Total Annual NOI $139,886.40

8 Area Amenities

FOR SALE OR LEASE > 2001 BEVERLY BOULEVARD LOS ANGELES, CA

FOR SALE OR LEASE > 2001 BEVERLY BOULEVARD LOS ANGELES, CA NATHAN PELLOW Executive Vice President License No. 01215721 213 532 3213 nathan.pellow@colliers.com PATRICK MOODY Associate License No. 02024230