map Map favorite Favorite share Share Facebook Favorite print Print
Photo
Photo Photo

223 Rosecrans Avenue

Gardena, CA 90248

$30,610,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $391 / sqft

1972

calendar_month Built

Property Description

Location. Location. Property is located 223 W Rosecrans Ave, Gardena ,CA 90248. It is located in the city of Gardena, the best logistics center adjacent to the Long Beach Port and also adjacent to LA Airport. Gardena is Los Angeles’ industrial hub surrounding the 110 Freeway located 12 miles south of Downtown Los Angeles. The city of Gardena warehouse sales and lease market is a highly sought-after industrial real estate market with 2022 proving to be an extremely high demand market year. Currently, the best of the market demand for warehouse rental and sales is between 80,000 sf to 100,000 sf. According to various business press statistics, the South Bay area always has a vacancy rate of lease 1%. The reason is that there is no land that can be developed, and labor costs are too high to build. On the other hand , with the increase in the distribution industry across the country, many people have been looking for warehouses, but due to a lack of supply, price increases and vacancy rates are expected to remain at the lowest level. Current our's leased contract rents are equal to $1.00/sf Industrial Gross which equates to 39% below market rents current rental market a conservative estimate of $1.65/sf Gross market rent rate. Therefore, since the current market rate price is much higher than the lease price, we can be sure of the lease price increase factor. In the second year of investment(2024) ,the cap rate increase is 3.4%, and from the third year(2025), the cap increase is 5.3%. The Subject Property approximately 78,088 sf of warehouse/distribution situated on 3.251 acres of land. . There is a 10% office-to-warehouse ratio located in the front portion of the building with a kitchen and reception area. The 2nd floor warehouse mezzanine is 7,000 sf, but not included rental spaces in total rental sf. The building is built of brick and concrete and ceilings and interior facilities are in excellent condition. For vehicle traffic, there are two entrances that can pass through 360 degrees based on the building. Although the current real estate market situation is at its worst due to rising inflation and rising interest rates, it is expected that it will be a wise investment method to purchase an industrial logistics warehouse as the best investment. We will provide the best offers to the best investors. Very good 1031 Exchange building.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 223 Rosecrans Avenue
City Gardena
State CA
Zip 90248
County Los Angeles
Listing Agent Edward Oh DRE#01310980
Courtesy Of Berkshire Hathaway HomeService
MLS RS22255455
List Price $30,610,000
Status Active
Type Commercial
Subtype Warehouse
Structure Size N/A
Lot Size N/A
Year Built 1972
DOM 198

Exterior Information

Maps

home_work Nearby Properties

Image

$3,100,000

king_bed N/A
shower N/A
straighten N/A
straighten N/A
14550 Main Street,

Gardena, CA 90248
Image

$699,995

king_bed 4
shower 2
straighten 1,615
straighten 6,301
318 Alsina Street,

Los Angeles, CA 90061
Image

$7,500,000

king_bed N/A
shower N/A
straighten N/A
straighten N/A
535 135th Street,

Gardena, CA 90248
Image

$2,800,000

king_bed N/A
shower N/A
straighten N/A
straighten N/A
13017 Broadway,

Los Angeles, CA 90061
Image

king_bed N/A
shower N/A
straighten N/A
straighten 14,006
13017 Broadway,

Los Angeles, CA 90061

Listing information courtesy of: Edward Oh, Berkshire Hathaway HomeService . *Based on information from the Association of REALTORS/Multiple Listing as of Jun 26th, 2023 at 11:14 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.