Listed by Anand Chhabria, Chhabria Real Estate Company,

220 S Pacific Coast

Redondo Beach, CA, 90277

$5,500,000

$649 per ft²
$5,500,000
$649 per ft²
Active
Active
 - For Sale
carpenters-square
8,474 ft²
property_type
Commercial
calendar
Built 1985
220 S PCH is a large 8,494 sf office building built in 1985 in a great location with a great address. The building consists of 3 levels total on an 11,283 sf lot. The ground level is a spacious and gated parking garage with 29 spaces in 8,474 sf. The second and third levels consist of 11 separately metered office units ranging in size mostly 500-1,000 sf with a couple larger and smaller units. The top floor would be great for an owner user but could also be rented out and also has views of PV. Many of the tenants have been in the building for several years and rents are below market. There is a cellular tower lease that is expiring at the end of the year and they want to renew and that rent will should significantly increase. The roof and HVAC systems were redone in 2018. Current Annual GSI is $156,311.88. At current rented rate and fully occupied the Annual GSI is 256k and at market rent the GSI would be 317k+ Annually. Currently there are 3 vacant units totaling in 2,781.21 sf. It's ready for an owner/user or it can be fixed up to rent. Offering Memorandum Link: https://docsend.com/view/i2etwx9u5jcdu462
MLS® ID:
SB22063294
Listed:
4/3/22
Updated:
9/29/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
None

Exterior/Building Features

Lot Size
0.26 acres lot
Lot Details
11-15 Units/Acre

Other Property Details

Area Name
155 - S Redondo Bch N of Torrance Bl
Taxes
$68750
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
Los Angeles
Water Source
Public
Pool
No
Total Stories
2

 

Listed by Anand Chhabria, Chhabria Real Estate Company,

Based on information from California Regional Multiple Listing Service, Inc. as of 9/29/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 7:53 PM UTC, 9/29/22

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