3015 Artesia Boulevard, Torrance, CA 90504
Commercial property
Sold May 2024
Listing Agent: Arthur Ambarachyan (DRE #01351863) · Listing Office: Keller Williams R. E. Services · Contact: 818-432-3200 · Bought with: Ruben Aldana · Ruben Roque Aldana · MLS #GD24057488 · Source: CRMLS
About this commercial property
Situated along a major retail thoroughfare in the heart of Torrance, 3015 Artesia Boulevard introduces investors to the ultimate value-add acquisition opportunity. The vacant retail asset is currently in shell condition and ready for a fully customized build-out, currently comprises of 3015, 3017, 3019, and 3021 Artesia Boulevard block addresses. 3015 Artesia Boulevard features large storefront glass windows, building sign optionality for tenants, and a highly adaptable floor plan. The building can also easily be converted into four storefront units with private entrances for multi-tenant functionality. Strong market fundamentals depict a Gross Lease asking rent of $1.50-1.75 per square foot, which will yield a gross monthly rent of $6,300 – 7,350 (proforma CAP rate of 5%). Businesses will benefit from eight (+ more if stacked) private, off-street parking spaces at the rear of the building, providing convenience for employees and visitors. The property has an approved ready-to-issue permit (RTI) for updated 600amp electrical panel. City of Torrance Commercial Rehabilitation Rebate Programs may provide grants and incentives for property improvements (https://www.torranceca.gov/Home/Components/News/News/4607/). 3015 Artesia Boulevard is a distinctly versatile asset offering endless upside potential for new ownership. An investor can immediately add value by securing one or multiple credit-worthy tenants in a competitive submarket. At the same time, an owner-user will undoubtedly profit from occupying part of the building and generating additional income through leasing the other potential spaces. 3015 Artesia Boulevard is an ideal location for an array of industries, including retailers, creative offices, studios, service-based businesses, entrepreneurs, and more. Location provides unrivaled visibility to over 46,000 vehicles traveling through the high-profile intersection of Artesia and Crenshaw Boulevard.
Listing description from the May 2024 sale, as reported to CRMLS.
Sale history