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CRENSHAW BUILDINGExclusively Listed For Sale18051 Crenshaw Boulevard Torrance, CA
Newly Remodeled Luxurious Interiors
The information in this package has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections,opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisor should conduct a careful, independent investigation of the property to determine to your satisfaction the stability of the property for your needs
Frank Ponce Commercial and Investment Properties 310.791.6017
DRE LIC #00861049
Rare Owner/User Opportunity for Office Building in Torrance
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Table of Contents:
Executive Summary Property Summary
Investment Overview Financial Summary Rent Roll Summary
Sales Comparable Summary
On Market Properties Location Overview Map
Aerial Map Property Photos
Demographics
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Executive Summary
18051 Crenshaw BoulevardTorrance, California 90504
List price: $1,195,000Price per S.F. $187.42Year Built: 1960
Property Description:
The Crenshaw Building, conveniently located near the 405 Freeway off/on Ramps along the prime commercial corridor of Crenshaw Boulevard in North Torrance. The subject property is just North of the 405 Freeway between 181st Street and 180th Place. This prime location has a 35,000 daily traffic count and high visibility.
The ground floor space is 75% leased by Mari’s Nails, and Women’s Care Center. The second floor is 75% leased by Dr. Yang Psychologist, a prayer group, Dr. Carlson Psychologist, a U.S. Customs Agency, and by a former IRS Agent – CPA. A prospective owner/use can either utilize the current vacant space and additionally benefit from the rental income of the current tenants.
Currently the property is also on the market for lease, with the potential activity on some if not all of the current vacant space at $1.18 to $1.21 modified gross.
The current owner has redone the flooring in unit C in the Women’s Care Center and recently repainted the exterior of the building. Suite H has recently gone through a complete renovation as well as Suites, E, G, I and B. The parking lot has been repaved and striped and van access has been added to accommodate disabled patrons.
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Property SummaryLocation: 18051 Crenshaw Boulevard Torrance, California 90504
The subject property is situated on Crenshaw Boulevard, between 181th Street on the south and 180th Place on the on the north.
Assessor’s Parcel Number: 4091-018-023
Zoning: RP, Torrance
The zoning allows medical/dental offices, professional offices and retail uses. General offices have a parking requirement of 3.6 spaces per 1,000 square feet, the subject property has 4 spaces per 1,000 square feet.
Site Description:
Number of Stories: 2 Year Built: 1960 Gross square footage: 6,376 square feet Rentable square footage: 5,760 square feet
Lot size: 11,909 square feet Parking: 21 open, asphalt-paved parking spaces Parking ratio: 3.6:1,000
Construction:
Foundation: Poured concrete foundation with perimeter footing Exterior Walls: Painted stucco on masonry construction.
Restrooms: four restrooms on each floor
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Investment Overview
Listing price $1,195,000
18051 Crenshaw Boulevard -Torrance, California 90504
Price per SF $187.42
Expenses per SF $3.08
Building SF 6,376
Rentable SF 5,760
No. of Parking Spaces 21
Parking Ratio 3.6:1,000Land Acres .2733Loan Amount $717,000
Down Payment $478,000
Loan Description Buyer to obtain new financing. Rates and down payment may fluctuate due to buyer’s lender, and whether or not property is purchased by an owner/user or by an investor.
Current Operating Data
Current Income with existing vacancy $69,480
Less Estimated Expenses $19,086
I N V E S T M E N T H I G H L I G H T S
•• Daily Traffic Count of 35,000Daily Traffic Count of 35,000••High Visibility Location in TorranceHigh Visibility Location in Torrance••Near Freeway off/on rampsNear Freeway off/on ramps
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Financial SummaryEstimated Expense Summary
Projected Taxes $14,2211.19%
Insurance $1,500
TOTALS $3.08 / FT $19,621
Financing Summary Proposed
Loan Amount amortized over 30 years $896,250
Interest Rate 4.125% 3 yr fixed
Annual Payment $52,124
Financing Terms Buyer to obtain new financing. Rates and down payment may fluctuate due to buyer’s lender, and whether or not property is purchased by an owner/user or by an investor.
Utilities $2,184$816Trash
$900Gardening
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Rent Roll Summary
Suite Name Tenant Commence Date
Expiration DateSquare Footage
Base Rent
PSF Base Year NOTES
A A 720720
B MariB Mari’’s Nailss Nails 08/01/1108/01/11 720720 $800.00$800.00 $1.11$1.1107/31/1207/31/12
C WomenC Women’’s Care Ctr.s Care Ctr. 10/01/0610/01/06 1,5001,500 $1,700.00$1,700.00 $1.13$1.1310/01/1110/01/11
D Former IRS AgentD Former IRS Agent--CPACPA 09/01/0209/01/02 720720 $800.00$800.00 $1.11$1.1109/01/1209/01/12
E Dr. CarlsonE Dr. Carlson 11/01/1111/01/11 355355 $420.00$420.00 1.181.1810/31/1210/31/12
F Dr. Yang PsychologistF Dr. Yang Psychologist 01/01/0901/01/09 355355 $420.00$420.00 $1.18$1.1801/01/1101/01/11
G Prayer GroupG Prayer Group 06/01/1106/01/11 350350 $400.00$400.00 $1.14$1.1412/31/1212/31/12
H U.S. Customs AgencyH U.S. Customs Agency 12/31/1412/31/14 360360 $400.00$400.00 $1.11$1.11
I VACANTI VACANT 720720
Total Leased AreaTotal Leased Area 4,3604,360Total Footage (rentable)Total Footage (rentable) 5,7605,760Total Percentage LeasedTotal Percentage Leased 75.69%75.69%
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Sales Comparables
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Sales Comparables
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Sales Comparables
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Sales Comparables
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Sales Comparables
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Sales Comparables
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
On Market Properties
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
On Market Properties
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
On Market Properties
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
On Market Properties
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Location Overview Map
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Aerial Map
QUIET LANDSCAPED SERVICE ROAD ALLOWS EASY PROPERTY ACCESS AND PROVIDES EXTRA STREET PARKING
DA
ILY
TR
AFFIC
CO
UN
T 35,000
Daily Traffic Count of 35,000
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Assessor’s Map
QUIET LANDSCAPED SERVICE ROAD ALLOWS EASY PROPERTY ACCESS AND PROVIDES EXTRA STREET PARKING
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Property Photos
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CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Property Photos
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CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Property Photos
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CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
First Floor
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Second Floor
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Population 1 Mile
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Population 3 Miles
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Population 5 Miles
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Housing Values 1 Mile
Population by Employment Status 1 Mile
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Population by Race 1 Mile
Tenure of Occupied Housing 1 Mile
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Civilians Employed by Occupation 1 Mile
Consumer Spending Totals 1 Mile
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Number of Daytime Employment Businesses 1 Mile
Number of Daytime Employees 1 Mile
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Households 1 Mile
Household Income 1 Mile
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Demographics
ELEVATOR LOCATED HERE
Households by Income 1 Mile
CRENSHAW BUILDING
Exclusive Investment Offering18051 Crenshaw Boulevard – Torrance, CA
Frank Ponce Commercial and Investment Properties
310.791.6017 or 310.503.4158
CRENSHAW BUILDING