crenshaw buildingfrankponce.com/files/18045_crenshaw_blvd4._marketing.pdf · 18051 crenshaw...

CRENSHAW BUILDINGExclusively Listed For Sale18051 Crenshaw Boulevard Torrance, CA

Newly Remodeled Luxurious Interiors

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

Frank Ponce Commercial and Investment Properties 310.791.6017

DRE LIC #00861049

Rare Owner/User Opportunity for Office Building in Torrance

Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA

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

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Executive Summary

18051 Crenshaw BoulevardTorrance, California 90504

List price: $1,195,000Price per S.F. $187.42Year 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 181st Street and 180th Place. This prime location has a 35,000 daily traffic count and high visibility.

The ground floor space is 75% leased by Mari’s Nails, and Women’s Care Center. The second floor is 75% leased by Dr. Yang Psychologist, a prayer group, Dr. Carlson Psychologist, a U.S. Customs Agency, and by a former IRS Agent – CPA. A prospective owner/use can either 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 space at $1.18 to $1.21 modified gross.

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 to accommodate disabled patrons.

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Property SummaryLocation: 18051 Crenshaw Boulevard Torrance, California 90504

The subject property is situated on Crenshaw Boulevard, between 181th Street on the south and 180th 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: Poured concrete foundation with perimeter footing Exterior Walls: Painted stucco on masonry construction.

Restrooms: four restrooms on each floor

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Investment Overview

Listing price $1,195,000

18051 Crenshaw Boulevard -Torrance, California 90504

Price per SF $187.42

Expenses per SF $3.08

Building SF 6,376

Rentable SF 5,760

No. of Parking Spaces 21

Parking Ratio 3.6:1,000Land Acres .2733Loan Amount $717,000

Down Payment $478,000

Loan Description 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 $69,480

Less Estimated Expenses $19,086

I N V E S T M E N T H I G H L I G H T S

•• Daily Traffic Count of 35,000Daily Traffic Count of 35,000••High Visibility Location in TorranceHigh Visibility Location in Torrance••Near Freeway off/on rampsNear Freeway off/on ramps

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Financial SummaryEstimated Expense Summary

Projected Taxes $14,2211.19%

Insurance $1,500

TOTALS $3.08 / FT $19,621

Financing Summary Proposed

Loan Amount amortized over 30 years $896,250

Interest Rate 4.125% 3 yr fixed

Annual Payment $52,124

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.

Utilities $2,184$816Trash

$900Gardening

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Rent Roll Summary

Suite Name Tenant Commence Date

Expiration DateSquare Footage

Base Rent

PSF Base Year NOTES

A A 720720

B MariB Mari’’s Nailss Nails 08/01/1108/01/11 720720 $800.00$800.00 $1.11$1.1107/31/1207/31/12

C WomenC Women’’s Care Ctr.s Care Ctr. 10/01/0610/01/06 1,5001,500 $1,700.00$1,700.00 $1.13$1.1310/01/1110/01/11

D Former IRS AgentD Former IRS Agent--CPACPA 09/01/0209/01/02 720720 $800.00$800.00 $1.11$1.1109/01/1209/01/12

E Dr. CarlsonE Dr. Carlson 11/01/1111/01/11 355355 $420.00$420.00 1.181.1810/31/1210/31/12

F Dr. Yang PsychologistF Dr. Yang Psychologist 01/01/0901/01/09 355355 $420.00$420.00 $1.18$1.1801/01/1101/01/11

G Prayer GroupG Prayer Group 06/01/1106/01/11 350350 $400.00$400.00 $1.14$1.1412/31/1212/31/12

H U.S. Customs AgencyH U.S. Customs Agency 12/31/1412/31/14 360360 $400.00$400.00 $1.11$1.11

I VACANTI VACANT 720720

Total Leased AreaTotal Leased Area 4,3604,360Total Footage (rentable)Total Footage (rentable) 5,7605,760Total Percentage LeasedTotal Percentage Leased 75.69%75.69%

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Sales Comparables

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On Market Properties

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Location Overview Map

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Aerial Map

QUIET LANDSCAPED SERVICE ROAD ALLOWS EASY PROPERTY ACCESS AND PROVIDES EXTRA STREET PARKING

DA

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Daily Traffic Count of 35,000

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Assessor’s Map

QUIET LANDSCAPED SERVICE ROAD ALLOWS EASY PROPERTY ACCESS AND PROVIDES EXTRA STREET PARKING

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Property Photos

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Property Photos

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Property Photos

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First Floor

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Second Floor

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Demographics

ELEVATOR LOCATED HERE

Population 1 Mile

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Demographics


Population 3 Miles

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Demographics


Population 5 Miles

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Demographics


Housing Values 1 Mile

Population by Employment Status 1 Mile

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Demographics


Population by Race 1 Mile

Tenure of Occupied Housing 1 Mile

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Demographics


Civilians Employed by Occupation 1 Mile

Consumer Spending Totals 1 Mile

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Demographics


Number of Daytime Employment Businesses 1 Mile

Number of Daytime Employees 1 Mile

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Demographics


Households 1 Mile

Household Income 1 Mile

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Demographics


Households by Income 1 Mile

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Frank Ponce Commercial and Investment Properties

310.791.6017 or 310.503.4158

CRENSHAW BUILDING

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