Jeremiah Moersch REALTOR®
Office: 760-533-2540
425 58th Street, Los Angeles
$2,999,888
Click the arrows next to the image to browse our photo gallery for this property.
0 Bed
0 Bath
.35 Acre
0 Garage
PRICED FOR A QUICK SALE - PROPERTY IS NOW AVAILABLE TO BE SEEN STARTING LATE MARCH This will not last and is the best priced industrial building in this area of town! Large Industrial/Manufacturing Building or Warehouse in a Great Location of Los Angeles. Potential Cap Rate of 8% to 10%. Great 1031 Exchange or OWNER USER building. This is priced way below the market for an immediate sale! Seller may consider Seller Financing with a strong down payment and terms! SELLER IS VERY MOTIVATED AND JUST LOWERED THE PRICE BY $500,000. NEW PRICE IS $2,999,888. SELLER HAS ANOTHER INVESTMENT OPPORTUNITY AND NEED SOT CLOSED FAST. THIS NEW PRICE IS ALMOST 1 MILLION DOLLAR BELOW THE MARKET. YOU WILL NOT FIND A BETTER DEAL. THIS PROPERTY HAS A LOT OF UPSET AND IS PERFECT FOR A 1031 EXCHANGE!!!
IF WE CAN CLOSE IN BY MID TO LATE APRIL, WE WILL MAKE A DEAL WORK!!!!
Property has Heavy Power (800 AMP/240 Volt/3 Phase) and New Lighting.
Market rents for the area are $1.00 to $1.25 PSF NNN. Using a NNN monthly lease rate of $1.25 PSF or $25,000 a month, you would get a 10% Cap Rate (Return). At $1.00 PSF NNN or around $20,000, you would be at 8.0% Cap Rate (Return). Thus, the potential return can be amazing if you get the right tenant.
Zoned LAM2 - Light Industrial and Potential Non-Retail Cannibas Uses. Please check with the city to confirm use. The subject property is approximately 19,668± square feet and the lot is approximately 15,246± square feet (as provided by public records). The 1st floor is around 15,000 square feet and the second floor is around 4668 square feet. The Industrial Building fronts 58th Street and has a great office/showroom, large second floor, six bathrooms and lots of street parking. There is also a 12' x10' street front drive up rolling door.
Property walls have been updated recently with new paint, lighting and electrical. Don't miss this opportunity to purchase such a great deal!
Property is very well located in the heart of Los Angeles and only minutes from the 110 Freeway. It is a short drive from most of Los Angeles including Downtown, Ports of LA and the 405/710/105/5/101/91/60 Freeways
Essential Information
- MLS® #
- AR24020829
- Price
- $2,999,888
- Bathrooms
- 0.00
- Acres
- 0.35
- Year Built
- 1925
- Type
- Commercial Sale
- Sub-Type
- Industrial
- Status
- Active
Community Information
- Address
- 425 58th Street
- Area
- 699 - Not Defined
- City
- Los Angeles
- County
- Los Angeles
- Zip Code
- 90011
- Senior Community
- N
Utilities
Electricity Connected, Water Connected
Interior
- # of Stories
- 1
Additional Information
- Date Listed
- January 30th, 2024
- Days on Market
- 90
Listing Details
- Agent
- Mike Vachani
- Office
- Provenio Realty and Investment
Property History
Price Reduced from $3,498,888 to $2,999,888
LISTING MAP
Based on information from California Regional Multiple Listing Service, Inc. as of April 29th, 2024 at 4:45am PDT. 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, 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.