425 58Th StLos Angeles, CA 90011

Property Details for 425 58Th St

Year built

1925

Construction

WOOD

Lot size

0.35 AC

Property size (Sq ft)

19,668 SF

Zone code

LAMR1

Property type

Industrial properties

Property subtype

Manufacturing properties

APN

5101-005-011

APU

5101005011

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $6,522,709

  Hospitality

  $5,974,766

  Educational

  $4,970,936

  Medical

  $5,141,894

  Retail

  $7,732,566

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9901

Longitude

-118.267

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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