los angeles industrial for sale...6 624628 e olympic blvd 101421 mirasol st unit address sq ft...

LOS ANGELES INDUSTRIAL FOR SALE3624-3628 E. Olympic Blvd. & 1303-1421 Mirasol St, Los Angeles CA 90023

John Malouf RealtyCommercial & Residential Brokerage Since 1997

[email protected]

CA DRE Lic 01230461

818.601.07072639 Lavery Court, Suite 6Newbury Park, CA 91320

The information contained within this offering memorandum is confidential. It is intended to be reviewed only by the party receiving it from John M. Malouf, John Malouf Realty and should not be duplicated, used, or presented to any other person or entity without the written consent of John M. Malouf. By taking possession of the information contained herein the recipient agrees to hold all information in the strictest of confidence. If you have no interest in the subject property, please promptly return this offering memorandum to John M. Malouf. This offering memorandum has been prepared to provide a summary of financial and physical information to a prospective Buyer, and only to establish a preliminary level of interest in the Property. The information contained in this offering memorandum has been obtained from sources believed to be reliable; however, John M. Malouf, John Malouf Realty has not and will not verify any of the information contained herein, and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. The information contained herein is not a substitute for a thorough due diligence investigation by a prospective Buyer. John M. Malouf, John Malouf Realty make no representations or warranties with respect to the subject property’s income; expenses; tenancy including length of tenancy performance of tenants or future tenancy; sizes of the land and building square footages; building improvement permit status; current and future use and zoning status; City, County, State re-development restrictions; historical uses of the Property; environmental conditions or any contaminates that may present within the Property or on neighboring properties including but not limited to gasolines, solvents, asbestos, PCB’s, and Perchloroethylene; tenant compliance with City, County & State laws; and future financial performance of the property. The Property will be made available for Buyer’s inspection on an appointment only basis with Buyer’s prior written request. Buyer is strongly advised to thoroughly inspect all aspects the Property including but not limited to its title, environmental, and physical conditions using the appropriate professionals. Buyers will be responsible for all costs and expenses of its investigation of the Property. Any Buyer questions regarding the Property are to be presented in writing to John M. Malouf, so they may be forwarded to the Owner/Seller for answering.

Confidentiality and Disclaimer

TABLE OF CONTENTS

Executive Summary

Investment Highlights

Rent Roll

Tenant Descriptions

Parcel Map

Street/satellite map

Freeway Map

Demographics

Additional Photographs

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3624-3628 E. Olympic Blvd. & 1303-1421 Mirasol St

Executive Summary LOCATION3624-3628 E. Olympic Blvd. & 1303-1421 Mirasol St, Los Angeles CA

NOI$ 298,051 (2019, See Financial Summary and Rent Roll for 2020 financials)

PROPERTY TYPEIndustrial (M2-1)

LEASE TYPESMulti-tenant Gross / and Owner User

BUILDING SIZE97,872 SF (assessor)

LOADINGGround Level and Dock

LAND SIZE106,202 SF (assessor)

APN5191-023-003

PRICE$13,000,000

YEAR BUILT1925, 1946, 1953

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UNIQUE PURCHASE OPPORTUNITY FOR THE OWNER USER, INVESTOR, OR DEVELOPER

OWNER USERSix total units. One vacant space of 9,941 SF is immediately available with an adjacent 14,010 SF space currently month to month. An additional 10,420 SF expires in October 2020. All other leases expire in August 2024.

INVESTORExisting below market leases offer tremendous upside potential for new leases or as tenants re-sign.

DEVELOPER Property provides an in-place income through August 2024 providing developer with a cash flow during the construction design and City permit process. Property is located within an appreciating neighborhood, with frontage along the major thoroughfare of Olympic Blvd. Located across the street from Food 4 Less and CVS.

Investment Highlights

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UNIT ADDRESS SQ FT TENANT TYPE OF BUSINESS MONTHLY RENT RENT/SF INCEASES TERM EXPIRATION

3624-28 OLYMPIC 14,010 SUBJEKT, LLC TEXTILE/GARMENT $8,195.45 $0.58 M TO M

1303 MIRASOL 9,941 VACANT VACANT

1313 MIRASOL 55,000 BRITE / GENERAL PLATING METAL PLATING $20,790.00 $0.38 5% per yr 8/31/2024

1401-A Mirasol 10,420 Metal Finishing Marketers, Inc Metal Plating $6,250.00 $0.60 10/31/2020

1413 Mirasol 6,335 G. V. Cutting & Fusing Textile/Garment $3,932.00 $0.62 5% per yr 8/31/2024

1421 Mirasol 4,000 Alpha Polishing, Inc Metal Polishing $3,811.00 $0.95 5% per yr 8/31/2024

99,706 $-

Total Monthly Rent $42,978.45

Total Annualized Rent $515,741.40

Rent Roll

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Tenant DescriptionsSubjekt LLC

3624-3629 E. OLYMPIC(14,010 SF)

Subjekt LLC is a local clothing and garment manufacturing company that operates within mail order garment industry.

Vacant1303 MIRASOL

(9,941 SF)

Vacated during the Covid-19 pandemic, the space was most recently leased to Lucent Lighting Group a lighting fixture manufacturer.

GV Cutting and Fusing 1413 MIRASOL

(6,335 SF)

GV Cutting and Fusing is a long term tenant of the property in the garment manufacturing business specializing in fabric cutting and seeming.

Metal Finishing Marketers1401 MIRASOL

(10,420 SF)

Metal Finishing Marketers has been a long term tenant of the property specializing in metal plating and polishing ser-vices including chrome, nickel, brass, bronze, and zinc. (Not affiliated with General Brite Plating)

1313 MIRASOL

(55,000 SF)

General Brite Plating has served the community since 1940 and has been a long term tenant at the property. It provides a wide variety of metal plating services including chrome, nickel, brass, bronze, tin, silver plating. It is a member of the National Association of Metal Finishers and Metal Finishers of Southern California.

Alpha Polishing 1421 MIRASOL

(4,000 SF)

Alpha Polishing specializes in metal polishing and buffing. (Shares common ownership affiliation with General Brite Plating)

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Parcel Map

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Street/Satellite Map

Mariscos Linda

E Olympic Blvd VPD : 26,876

VPD : 260,000 E 8th St VPD: 13,506

Emery St

E Washington Blvd VPD: 21,600

Downey Rd

S Lo

rena

St V

PD: 4

2,714

Estrada Courts

Dacotah Early Education Center

5

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Freeway Map

5

5

710

10

10

101

101

60

Santa Ana Fwy

Santa Ana Fwy

Pomona Fwy

Long Beach Fwy

Santa Monica Fwy

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2020 SUMMARY 1 MILE 3 MILES 5 MILES

POPULATION 32,597 302,964 1,012,950

HOUSEHOLDS 7,538 76,070 275,948

FAMILIES 6,511 60,886 199,190

Average Household Size 4.31 3.93 3.56

Owner Occupied Housing Units 2,103 20,389 72,547

Renter Occupied Housing Units 5,434 55,681 203,401

Median Age 29.0 29.8 30.9

Median Household Income $43,895 $42,885 $43,407

Average Household Income $57,784 $57,892 $62,245

2025 SUMMARY 1 MILE 3 MILES 5 MILES

POPULATION 32,852 306,406 1,036,455

HOUSEHOLDS 7,566 77,606 286,695

FAMILIES 6,546 61,357 203,114

Average Household Size 4.33 3.90 3.51

Owner Occupied Housing Units 2,194 21,083 74,582

Renter Occupied Housing Units 5,372 56,524 212,114

Median Age 31.2 32.0 32.8

Median Household Income $46,722 $46,536 $47,842

Average Household Income $62,230 $64,000 $69,753

Demographics

1 Mile

3 Miles

5 Miles

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Additional Photographs

LOS ANGELES INDUSTRIAL FOR SALE3624-3628 E. Olympic Blvd. & 1303-1421 Mirasol St, Los Angeles CA 90023

John Malouf RealtyCommercial & Residential Brokerage Since [email protected] DRE Lic 01230461818.601.07072639 Lavery Court, Suite 6, Newbury Park, CA 91320

los angeles industrial for sale...6 624628 e olympic blvd 101421 mirasol st unit address sq ft...

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