1913 S Catalina Ave, Redondo Beach, CA 90277

Property Description

Prime - Prime - Prime location with a solid long term tenant with a triple net lease located on the main commercial corridor of the Riviera Village; a local commercial haven with upscale restaurants, cafes, local bars, boutique retails store and professional offices - all within two blocks of the beach and surrounded by a high end residential communities (Palos Verdes - Hollywood Riviera - Redondo Beach - Torrance) . No landlord responsibilities, the tenant pays all the operating expenses including property taxes - TRIPLE NET lease with a 5 yr option to renew (renewal date 3/01/2022 at new market rates). Offered at a 3.7% cap rate, immediately giving an investor a fair solid return with the opportunity to capitalize on possibly stronger market conditions next year. Current tenant, Catalina Cooking store has expressed a desire to exercise 5 year option next year. The business community is very active with numerous events sponsored through-out the year. Owner will consider carrying a 1ST TD with 40% down and possibly guarantee rent if tenant gives notice to vacate premises to assist buyer with cash flow for 12 months or until a new tenant is secured at rents equal to or better than the current rate.