1815 Pacific Coast Highway, Lomita, CA 90717

Property Description

We are proud to present a multi-tenant retail opportunity in the city of Lomita! Consisting of two separate parcels side by side directly on Pacific Coast Highway, this property offers a unique opportunity to acquire a multi-tenant retail investment in the heart of the South Bay! Sitting on an oversized 21,020 sq ft lot, the offering features a total of 8 total retail spaces and 2 separate structures. The building located at 1807-1813 PCH consists of four identical retail spaces with 100% occupancy currently occupied by three tenants. The building located at 1815-1819.5 consists of four retail spaces, three of which are currently occupied by one tenant and the other is currently vacant. All leases are modified gross allowing for a new owner to add value by implementing triple nets once the tenant leases turnover. Currently, the owner pays property taxes, water, trash & parking lot cleaning for both buildings and pays for gas on 1807-1813 PCH. For 1815-1817.5 PCH, tenants pay for gas. Tenants pay for electricity and internet service. Recent capital expenditures include new electrical systems, new AC units and new roofs throughout most of the property. The asset has attractive recession proof tenants and long-term staggering leases providing steady income for a new owner. With one unit currently vacant, this is also the perfect owner-user opportunity. There is ample parking in the back of the property for tenants and guests to enjoy (about 29 uncovered spaces). Sitting on one of busiest highways in LA, the area boasts terrific traffic counts of approximately 61,270 VPD on Pacific Coast Highway and approximately 30,488 VPD on Western Ave. The property is about 4 miles from the 110 freeway and about 5 miles from the beach, making this a highly desirable location. Do not miss your opportunity to acquire a pride of ownership piece of real estate in the South Bay!