- N/A BR
- 0 BA
- N/A SqFt.
- 8,353 Lot
- $1,400,000
- Closed
- 4/4/24
Situated along a major retail thoroughfare in the heart of Torrance, 3015 Artesia Boulevard introduces investors to the ultimate value-add acquisition opportunity. The vacant retail asset is currently in shell condition and ready for a fully customized build-out, currently comprises of 3015, 3017, 3019, and 3021 Artesia Boulevard block addresses. 3015 Artesia Boulevard features large storefront glass windows, building sign optionality for tenants, and a highly adaptable floor plan. The building can also easily be converted into four storefront units with private entrances for multi-tenant functionality. Strong market fundamentals depict a Gross Lease asking rent of $1.50-1.75 per square foot, which will yield a gross monthly rent of $6,300 – 7,350 (proforma CAP rate of 5%). Businesses will benefit from eight (+ more if stacked) private, off-street parking spaces at the rear of the building, providing convenience for employees and visitors. The property has an approved ready-to-issue permit (RTI) for updated 600amp electrical panel. City of Torrance Commercial Rehabilitation Rebate Programs may provide grants and incentives for property improvements (https://www.torranceca.gov/Home/Components/News/News/4607/).
3015 Artesia Boulevard is a distinctly versatile asset offering endless upside potential for new ownership. An investor can immediately add value by securing one or multiple credit-worthy tenants in a competitive submarket. At the same time, an owner-user will undoubtedly profit from occupying part of the building and generating additional income through leasing the other potential spaces. 3015 Artesia Boulevard is an ideal location for an array of industries, including retailers, creative offices, studios, service-based businesses, entrepreneurs, and more. Location provides unrivaled visibility to over 46,000 vehicles traveling through the high-profile intersection of Artesia and Crenshaw Boulevard.
* Combined DOM (CDOM) counts the total days on market for each time a property is listed, and continues counting until the property is Canceled/Expired for 90 days, no matter which agent or broker lists the property. This figure presents a truer picture of time on market because agents sometimes "re-list" a property after it has been on the market a while to try to “refresh” the Days on Market count, or sellers may change agents when a property has failed to sell.
3015 Artesia Boulevard, Torrance, (MLS® #GD24057488)
Date | Details | Price | Change |
---|---|---|---|
Pending (from Active) | – | – | |
First Day Active | $1,050,000 | – |
Quick Summary of 3015 Artesia Boulevard: This home in Torrance is priced at $1,050,000 . The Retail residence was originally built in 1950 and was listed on March 22nd, 2024 at $1,050,000, showing 12 Days on Market currently. Contact Dave Fratello today for more information or to go see 3015 Artesia Boulevard.
Based on information from California Regional Multiple Listing Service, Inc. as of April 27th, 2024 at 10:09pm 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.