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    3100-3160 Pacific Coast

    Torrance, CA 90505
    • $11,000,000
    • STATUS: Active
    • ON SITE: 84 days
    • ID#: SB20179527
    UPDATED: 32 min ago
    $11,000,000
    • 0
      BEDS
    • 1.74
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 27,385
      SQFT
    • $402
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1966
    County:

    School Ratings & Info

    Description

    The subject property is a retail shopping center, Newton-Pacific Center is located at 3100-3160 Pacific Coast Highway in the City of Torrance. The center was constructed in 1966 with a mixed-use office component which comprises 5,400 square feet (20%) of the total rentable square footage of 27,385. The parcel is a large 71,133 square foot lot that is zoned General Commercial which allows a broad range of uses. There is also an additional adjacent 4,782 square foot parcel included in this offering that is not paved or improved and is zoned R1 with egress from the commercial lot. This parcel could potentially be used for additional parking as the lot size is below the minimum size for residential development. The shopping center has been very well maintained by a long-term owner. There are 30 tenants in the center of which 24 are on a month to month tenancy and have been in business at the center for many years at below market rents. This offering is a rare repositioning opportunity for an investor to realize a CAP rate in excess of 7.1% on stabilized market rents. The zoning allows for commercial and mixed use multi-residential uses. Senior housing uses are also allowed with approval of a CUP (Conditional Use Permit).The property is offered at $11,000,000 free and clear of any debt. Newton-Pacific is an irreplaceable property in an A+ location with substantial upside in income for the astute investor seeking an added value asset.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-24T14:31:18.693. 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 or The Alvarado Brothers | Ever Stewart Alvarado Broker. Licensed in the State of California, USA.

    www.thealvaradobrothers.com/homes/109557207
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    3100-3160 Pacific Coast Torrance, CA 90505

    • Price: $11,000,000
    • Status: Active
    • Updated: 32 min ago
    • ID#: SB20179527
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.74
    Acres
    27,385
    SQFT
    $402
    $/SQFT
    1966
    Built
    Neighborhood:
    125 - Walteria
    County:
    Los Angeles
    Area:
    125 - Walteria
    Property Description
    The subject property is a retail shopping center, Newton-Pacific Center is located at 3100-3160 Pacific Coast Highway in the City of Torrance. The center was constructed in 1966 with a mixed-use office component which comprises 5,400 square feet (20%) of the total rentable square footage of 27,385. The parcel is a large 71,133 square foot lot that is zoned General Commercial which allows a broad range of uses. There is also an additional adjacent 4,782 square foot parcel included in this offering that is not paved or improved and is zoned R1 with egress from the commercial lot. This parcel could potentially be used for additional parking as the lot size is below the minimum size for residential development. The shopping center has been very well maintained by a long-term owner. There are 30 tenants in the center of which 24 are on a month to month tenancy and have been in business at the center for many years at below market rents. This offering is a rare repositioning opportunity for an investor to realize a CAP rate in excess of 7.1% on stabilized market rents. The zoning allows for commercial and mixed use multi-residential uses. Senior housing uses are also allowed with approval of a CUP (Conditional Use Permit).The property is offered at $11,000,000 free and clear of any debt. Newton-Pacific is an irreplaceable property in an A+ location with substantial upside in income for the astute investor seeking an added value asset.
    Exterior Features

    Lot Features Lot Over 40000 SqftIrregular LotLevel Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features None

    Property Features

    Accounting Type Proforma Additional Parcels Description 7535-003-001 Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 7.10 Country Us Effective Gross 1025611 Expense Year 2021 Gross Scheduled Income 871308.00 Insurance Expense 13000.00 Investment Property YN Yes Land Lease YN No Land Use OfficeRetail Laundry YN No Leasable Area Units Square Feet Legal Accounting Expense 7160.00 Maintenance Expense 27000.00 Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 781200.00 Number Of Units Leased 30 Operating Expense 244410.00 Other Income1 197868.00 Professional Management Expense 34852.00 Property Sub Type Retail Real Estate Tax Expense 123310.00 Reserves Expense 6500.00 Special Listing Conditions Standard Tax Annual Amount 145730.00 Total Expenses 244410.00 Total Monthly Rent 50927 Utilities Cable AvailableElectricity ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance 43565 Water Source Public Year Built Source Assessor Zoning Gc/R1

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


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-24T14:31:18.693. 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 or The Alvarado Brothers | Ever Stewart Alvarado Broker. Licensed in the State of California, USA.

     
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