425 58th Street, Los Angeles
Los Angeles Home For Sale
PRICED FOR A QUICK SALE - PROPERTY IS NOW AVAILABLE TO BE SEEN STARTING JUNE 10TH This will not last and is the best priced industrial building in this area of town! Large Industrial/Manufacturing Building or Warehouse in a Great Location of Los Angeles. Potential Cap Rate of 9% to 11%. Great 1031 Exchange or OWNER USER building. This is priced way below the market for an immediate sale! Seller may consider Seller Financing with a strong down payment and terms! SELLER IS VERY MOTIVATED AND JUST LOWERED THE PRICE BY $750,000. NEW PRICE IS $2,749,888. SELLER HAS ANOTHER INVESTMENT OPPORTUNITY AND NEED TO CLOSED FAST. THIS NEW PRICE IS ALMOST 1 MILLION DOLLAR BELOW THE MARKET. YOU WILL NOT FIND A BETTER DEAL. THIS PROPERTY HAS A LOT OF UPSET AND IS PERFECT FOR A 1031 EXCHANGE!!! IF WE CAN CLOSE IN BY END JUNE, WE WILL MAKE A DEAL WORK!!!! Property has Heavy Power (800 AMP/240 Volt/3 Phase) and New Lighting. Market rents for the area are $1.00 to $1.25 PSF NNN. Using a NNN monthly lease rate of $1.25 PSF or $25,000 a month, you would get close to a 11% Cap Rate (Return). At $1.00 PSF NNN or around $20,000, you would be close to a 9% Cap Rate (Return). Thus, the potential return can be amazing if you get the right tenant. Zoned LAM2 - Light Industrial Uses. Please check with the city to confirm use. The subject property is approximately 19,668± square feet and the lot is approximately 15,246± square feet (as provided by public records). The 1st floor is around 15,000 square feet and the second floor is around 4668 square feet. The Industrial Building fronts 58th Street and has a great office/showroom, large second floor, six bathrooms and lots of street parking. There is not private parking lot. There is also a 12' x10' street front drive up rolling door. Property walls have been updated recently with new paint, lighting and electrical. Don't miss this opportunity to purchase such a great deal! Property is very well located in the heart of Los Angeles and only minutes from the 110 Freeway. It is a short drive from most of Los Angeles including Downtown, Ports of LA and the 405/710/105/5/101/91/60 Freeways
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90011
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- MLS® #:
- AR24020829
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- Lot Size:
- 0.35
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- HOA Dues:
- $
Price Change History for 425 58th Street, Los Angeles, (MLS® #AR24020829)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced | $2,749,888 | $250,000 (8.33%) | |
| Price Reduced (from $3,498,888) | $2,999,888 | $499,000 (14.26%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 11th, 2024 at 9:30am PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.