425 58Th StLos Angeles, CA 90011

This 19,668-square-foot industrial building in Los Angeles is available for immediate sale at $2,749,888. The property, located at 425 E 58th St, Los Angeles, CA 90011, features a flexible layout suitable for manufacturing, warehousing, or flex uses. Built in 1925 and renovated in 2023, this two-story building sits on a 15,000-square-foot lot and is zoned for light manufacturing. Key features include 12-14-foot ceilings, one loading dock, six bathrooms, and a 12' x 10' street-level roll-up door. The property is currently vacant, offering a significant value-add opportunity for a new owner. With a pro-forma NOI of $270,000 and a pro-forma cap rate of 9.82%, this presents a strong investment opportunity. The building boasts 800 AMP/240 Volt/3 Phase heavy power and new lighting. Market rents in the area range from $1.00 to $1.30 per square foot NNN, suggesting a potential cap rate between 8% and 10%. The property is conveniently located near major freeways, offering easy access to Downtown Los Angeles and the Ports of Los Angeles. This is a 1031 exchange-eligible property, and seller financing may be considered with a substantial down payment. The asking price is significantly below market value, reflecting the seller's motivation for a quick sale. Showings begin June 10th, 2024.