Exclusively Listed For Sale 18051 Crenshaw Boulevard Torrance, CA Rare Owner/User Opportunity for Office Building in Torrance Newly Remodeled Luxurious Interiors Frank Ponce Commercial and Investment Properties 310.791.6017 DRE LIC #00861049 The information in this package has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections,opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisor should conduct a careful, independent investigation of the property to determine to your satisfaction the stability of the property for your needs
Table of Contents: Executive Summary Property Summary Investment Overview Financial Summary Rent Roll Summary Sales Comparable Summary On Market Properties Location Overview Map Aerial Map Property Photos Demographics
Executive Summary 18051 Crenshaw Boulevard Torrance, California 90504 List price: $1,195,000 Price per S.F. $187.42 Year Built: 1960 Property Description: The Crenshaw Building, conveniently located near the 405 Freeway off/on Ramps along the prime commercial corridor of Crenshaw Boulevard in North Torrance. The subject property is just North of the 405 Freeway between 181 st Street and 180 th Place. This prime location has a 35,000 daily traffic count and high visibility. The ground floor space is 75% leased by a nail salon, and a Women' s Care Center. The second floor is 100% leased by a micro film company, two psychologists, a prayer group a U.S. Customs Agency, and by a former IRS Agent CPA. A prospective owner/user can utilize the current vacant space and additionally benefit from the rental income of the current tenants. Currently the property is also on the market for lease, with the potential activity on some if not all of the current vacant suite $1.60 modified gross. The building has a brand new roof. The current owner has redone the flooring in unit C in the Women' s Care Center and recently repainted the exterior of the building. Suite H has recently gone through a complete renovation as well as Suites, E, G, I and B. The parking lot has been repaved and striped and van access has been added as well as ADA compliant railings to accommodate disabled patrons. The current owner has redone the flooring in unit C in the Women s Care Center and recently repainted the exterior of the building. Suite H has recently gone through a complete renovation as well as Suites, E, G, I and B. The roof is brand new, parking lot has been repaved and striped and van access has been added as well as ADA compliant railings to accommodate disabled patrons.
Property Summary Location: 18051 Crenshaw Boulevard Torrance, California 90504 The subject property is situated on Crenshaw Boulevard, between 181 th Street on the south and 180 th Place on the on the north. Assessor s Parcel Number: 4091-018-023 Zoning: RP, Torrance The zoning allows medical/dental offices, professional offices and retail uses. General offices have a parking requirement of 3.6 spaces per 1,000 square feet, the subject property has 4 spaces per 1,000 square feet. Site Description: Number of Stories: 2 Year Built: 1960 Gross square footage: 6,376 square feet Rentable square footage: 5,760 square feet Lot size: 11,909 square feet Parking: 21 open, asphalt-paved parking spaces Parking ratio: 3.6:1,000 Construction: Foundation: Exterior Walls: Poured concrete foundation with perimeter footing Painted stucco on masonry construction. Restrooms: four restrooms on each floor
Investment Overview 18051 Crenshaw Boulevard -Torrance, California 90504 Listing price $1,195,000 Price per SF $187.42 Expenses per SF $3.08 Loan Description Building SF 6,376 Rentable SF 5,760 No. of Parking Spaces 21 Parking Ratio 3.6:1,000 Land Acres.2733 Loan Amount $717,000 Down Payment $478,000 Buyer to obtain new financing. Rates and down payment may fluctuate due to buyer s lender, and whether or not property is purchased by an owner/user or by an investor. Current Operating Data Current Income with existing vacancy $73,380 Less Estimated Expenses $19,621 I N V E S T M E N T H I G H L I G H T S Daily Traffic Count of 35,000 High Visibility Location in Torrance Near Freeway off/on ramps
Financial Summary Financing Terms Buyer to obtain new financing. Rates and down payment may fluctuate due to buyer s lender, and whether or not property is purchased by an owner/user or by an investor.
Rent Roll Summary Suite Tenant Name Commence Date Expiration Date Square Footage Base Rent PSF Base Year NOTES A 720 B C D Mari s s Nails 08/01/11 720 $950.00 $1.32 07/31/12 Women s s Care Ctr. 10/01/06 1,500 $1,700.00 $1.13 10/01/11 Former IRS Agent-CPA 09/01/02 720 $995.00 $1.38 09/01/12 E Dr. Carlson 11/01/11 355 $420.00 1.18 10/31/12 F Dr. Yang Psychologist 01/01/09 355 $420.00 $1.18 01/01/11 G Prayer Group 06/01/11 350 $550.00 $1.54 12/31/12 H U.S. Customs Agency 12/31/14 360 $400.00 $1.11 I Microfilm Company of Ca. 08/01/12 720 $875.00 $1.21 Total Leased Area 5,040 Total Footage (rentable) 5,760 Total Percentage Leased 87.50%
Sales Comparables
Sales Comparables
Sales Comparables
Sales Comparables
Sales Comparables
Sales Comparables
On Market Properties
On Market Properties
On Market Properties In Escrow
On Market Properties
Location Overview Map
Aerial Map QUIET LANDSCAPED SERVICE ROAD ALLOWS EASY PROPERTY ACCESS AND PROVIDES EXTRA STREET PARKING DAILY TRAFFIC COUNT 35,000 Daily Traffic Count of 35,000
Assessor s Map QUIET LANDSCAPED SERVICE ROAD ALLOWS EASY PROPERTY ACCESS AND PROVIDES EXTRA STREET PARKING
Property Photos Facing South Side of Building Front View from Crenshaw Blvd
Property Photos Rear Parking Area Rear West Side of Building
Property Photos Second Level Facing North Side Parking Area Facing South
New Roof! New Roof Installed May 2012 Brand New Roof Looking North
First Floor
Second Floor
Demographics Population 1 Mile ELEVATOR LOCATED HERE
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Demographics Housing Values 1 Mile Population by Employment Status 1 Mile ELEVATOR LOCATED HERE
Demographics Population by Race 1 Mile Tenure of Occupied Housing 1 Mile ELEVATOR LOCATED HERE
Demographics Civilians Employed by Occupation 1 Mile Consumer Spending Totals 1 Mile ELEVATOR LOCATED HERE
Demographics Number of Daytime Employment Businesses 1 Mile Number of Daytime Employees 1 Mile ELEVATOR LOCATED HERE
Demographics Households 1 Mile Household Income 1 Mile ELEVATOR LOCATED HERE
Demographics Households by Income 1 Mile ELEVATOR LOCATED HERE
Frank Ponce Commercial and Investment Properties 310.791.6017 or 310.503.4158