Overview

Description

The property is a highly prized small strip center consisting of approximately 8,781 sf of building situated on an approximately 27,274 sf lot. The buildings are divided into a single tenant 1,850+/- sf pad building on the hard corner and an L-shaped strip in the back with a surface parking lot in the middle offering ample parking of over 3 spaces per 1,000 sf. The tenants benefit from easy access via ingress/egress from E. Florence Ave. as well as Santa Fe Ave. Both Florence Ave. as well as Santa Fe Ave. are highly traveled streets resulting in a high average daily traffic count of almost 53,200 vehicles per day. Furthermore, the property is surrounded by a mix of residential and commercial developments, ensuring a steady flow of foot and vehicular traffic.

The property does show signs of deferred maintenance with the parking lot as well as the building requiring visible repairs. Furthermore, most the tenants have not had rental increases required in the leases enforced as well as some not even paying the correct base rental rates. Furthermore, no annual CAM reconciliations have been done and therefore no increases in common area costs have been passed through. Many of the leases are below market and either on a month to month basis or in default and may afford upside.

Huntington Park is a city located in Los Angeles County, California. It is situated southeast of downtown Los Angeles and is part of the Greater Los Angeles metropolitan area. The property is located on the south-east corner of E. Florence Ave. & Santa Fe Ave. Florence Ave is a major east-west connector just like Santa Fe is a north-south connecting street. This signalized intersection enjoys an excellent high traffic count of close to 53,200 vehicles per day.

Highlights

• Located at Signalized Hard Corner
• High Traffic Count of Almost 53,200 Vehicles Per Day
• Substantial Upside Due to Below Market Rents
• Potential Owner-User Opportunity
• Extremely Dense Demographics of Approx. 61K People w/in a 1-Mile Radius
• Close to Major Retailers such as Food 4 Less, Carl's Jr., Buffalo Wild Wings, Shell, McDonald's & Others

Documents

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