Multi-Tenant Retail Building in Torrance | $1,149,000
Doug Lawson of Lyon | Stahl is pleased to present this gorgeous 3-suite retail building in a highly desirable area of Torrance. It is conveniently located on Crenshaw Blvd, experiencing heavy daily traffic (30,000+ people). With a prime location and rental upside this is a great opportunity for an investor or an owner-user to occupy one unit for their business and rent out the other two units for income.
- Great location directly off Crenshaw Blvd.
- Each suite provides an impressive 1,100 SF of total operating space
- 10 on-site parking spaces located behind the building
- Excellent opportunity to own a multi-tenant retail building with upside rent potential
Listed at $1,149,000, this building was built in 1952, has a cap rate of 3.66% and a NOI of $42,021.
City Overview – Torrance:
Torrance is a city in the South Bay region of Los Angeles County bordered by Redondo Beach, Palos Verdes Estates, Rolling Hills Estates, Gardena, and Lawndale. Torrance is known for its low crime rates, consistently ranking among the safest cities in LA County.
The Torrance Unified School District ranks in the top 50 in California and includes five high schools, eight middle schools, and 17 elementary schools. Torrance High School, founded in 1917, is one of the oldest high schools in California and is a popular filming location for TV shows and films including the original Beverly Hills, 90210 and Buffy the Vampire Slayer.
The median price of homes currently listed in Torrance is $775,000 and Torrance real estate values have gone up 6.6% over the past year.
One of the largest malls in the United States, Del Amo Fashion Center, is in Torrance along with the headquarters of Honda, King’s Hawaiian, and simplehuman. In addition to its corporate presence, there is a strong emphasis on small business in the community: Torrance has been ranked in the top 3 cities in California for small businesses.
The Armed Forces Day Parade started in Torrance in 1960 and is the longest running city-sponsored military parade. The City of Torrance also partners with the Torrance Cultural Arts Foundation to provide diverse cultural, educational and entertainment experiences year-round. Among the city’s thirty parks, Wilson Park is one of the largest, spanning 44 acres, and the Madrona Marsh Wildlife Preserve is a rare Southern California wetlands habitat with a nature center that offers natural gardens classes.
- Los Angeles County is the world’s 18th largest economy
- Los Angeles part of the “Tech Coast” and is regarded as one of the main entrepreneurial regions of the world. It has approximately 200,000 small business, which is twice as many small businesses as can be found in any other region of the United States
- If Los Angeles’ five county area were a state, it would be the fourth largest in United States.
- Los Angeles has more than 80 stage theaters and 300 museums, more than any other U.S city.
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