1917-1919 S Catalina Avenue

    Redondo Beach, CA 90277
    • $3,800,000
    • STATUS: Active
    • ON SITE: 211 days
    • ID#: SB18113226
    UPDATED: 53 min ago
    $3,800,000
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,030
      SQFT
    • $943
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1956
    County:

    School Ratings & Info

    Description

    The subject property is a medical/dental office building with two tenants totaling approximately 4,030 square feet, with onsite parking for 12 vehicles via alley access in 6 tandem parking stalls. The building is a U-shaped configuration with a courtyard between each of the two suites which face each other. The improvements were constructed in 1956 and are situated on a 5,298 square foot lot zoned C-2 with the Riviera Village RIV-PD Pedestrian Overlay. The C-2 zoning allows a broad array of commercial, office, and retail uses, while the RIV-PD Overlay is intended to encourage pedestrian oriented retail uses. The current dental and medical tenant use is grandfathered in, however both of the tenant leases expire respectively in 2018, providing an opportunity for an owner-user, investor or developer. The zoning allows for development of up to .50 Floor Area Ratio and a maximum height limit of 30' or 2 stories subject to current building standards, required setbacks, and other planning requirements.The property is in an A+ location in Riviera Village. The median annual household income within a 1 mile radius is in excess of $100,000, with a population of over 15,000. The immediate area has multi-million dollar homes and condominiums selling at $1 million plus. Riviera Village has a selection of restaurants, bars, eateries, boutique shops and professional offices. Catalina Avenue has a very low vacancy factor, and properties rarely become available for acquisition.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-12T11:27:24.737. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.sonyathebroker.com/homes/83570262

    1917-1919 S Catalina Avenue Redondo Beach, CA 90277

    • Price: $3,800,000
    • Status: Active
    • Updated: 53 min ago
    • ID#: SB18113226
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    4,030
    SQFT
    $943
    $/SQFT
    1956
    Built
    Neighborhood:
    128 - Hollywood Riviera
    County:
    Los Angeles
    Area:
    128 - Hollywood Riviera
    Property Description
    The subject property is a medical/dental office building with two tenants totaling approximately 4,030 square feet, with onsite parking for 12 vehicles via alley access in 6 tandem parking stalls. The building is a U-shaped configuration with a courtyard between each of the two suites which face each other. The improvements were constructed in 1956 and are situated on a 5,298 square foot lot zoned C-2 with the Riviera Village RIV-PD Pedestrian Overlay. The C-2 zoning allows a broad array of commercial, office, and retail uses, while the RIV-PD Overlay is intended to encourage pedestrian oriented retail uses. The current dental and medical tenant use is grandfathered in, however both of the tenant leases expire respectively in 2018, providing an opportunity for an owner-user, investor or developer. The zoning allows for development of up to .50 Floor Area Ratio and a maximum height limit of 30' or 2 stories subject to current building standards, required setbacks, and other planning requirements.The property is in an A+ location in Riviera Village. The median annual household income within a 1 mile radius is in excess of $100,000, with a population of over 15,000. The immediate area has multi-million dollar homes and condominiums selling at $1 million plus. Riviera Village has a selection of restaurants, bars, eateries, boutique shops and professional offices. Catalina Avenue has a very low vacancy factor, and properties rarely become available for acquisition.
    Exterior Features

    Lot Features Level With Street Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features None Office Class C

    Property Features

    Accounting Type Proforma Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 4.77 Country Us Electric Expense 695.00 Expense Year 2018 Gross Scheduled Income 181344.00 Insurance Expense 1971.00 Investment Property YN Yes Land Use OfficeRetail Laundry YN No Leasable Area Units Square Feet Maintenance Expense 4000.00 Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 181344.00 Number Of Units Leased 2 Other Income1 52931.00 Property Sub Type Office Real Estate Tax Expense 42446.00 Reserves Expense 3000.00 Special Listing Conditions Standard Tax Annual Amount 42446.00 Tax Year 2018 Total Expenses 52931.00 Trash Expense 1157.00 Water Sewer Expense 1288.00 Water Source Public Year Built Source Assessor Zoning C2

    Listing provided courtesy of Stephen Lampe of Re/Max Commercial & Investment.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-12T11:27:24.737. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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