223 W Rosecrans Avenue
Gardena, CA, 90248 $ 30,610,000
Baths0.0 Sq 78,088 Monthly Estimate*
$ 203,444
Listed by Berkshire Hathaway HomeService
Studio
for $30,610,000. This 78,088 square foot building was built in 1972 on a lot size of 3.2506.
Location. Location. Property is located 223 W Rosecrans Ave, Gardena ,CA 90248. It is located in the city of Gardena, the best logistics center adjacent to the Long Beach Port and also adjacent to LA Airport. Gardena is Los Angeles’ industrial hub surrounding the 110 Freeway located 12 miles south of Downtown Los Angeles. The city of Gardena warehouse sales and lease market is a highly sought-after industrial real estate market with 2022 proving to be an extremely high demand market year. Currently, the best of the market demand for warehouse rental and sales is between 80,000 sf to 100,000 sf. According to various business press statistics, the South Bay area always has a vacancy rate of lease 1%. The reason is that there is no land that can be developed, and labor costs are too high to build. On the other hand , with the increase in the distribution industry across the country, many people have been looking for warehouses, but due to a lack of supply, price increases and vacancy rates are expected to remain at the lowest level. Current our's leased contract rents are equal to $1.00/sf Industrial Gross which equates to 39% below market rents current rental market a conservative estimate of $1.65/sf Gross market rent rate. Therefore, since the current market rate price is much higher than the lease price, we can be sure of the lease price increase factor. In the second year of investment(2024) ,the cap rate increase is 3.4%, and from the third year(2025), the cap increase is 5.3%. The Subject Property approximately 78,088 sf of warehouse/distribution situated on 3.251 acres of land. . There is a 10% office-to-warehouse ratio located in the front portion of the building with a kitchen and reception area. The 2nd floor warehouse mezzanine is 7,000 sf, but not included rental spaces in total rental sf. The building is built of brick and concrete and ceilings and interior facilities are in excellent condition. For vehicle traffic, there are two entrances that can pass through 360 degrees based on the building. Although the current real estate market situation is at its worst due to rising inflation and rising interest rates, it is expected that it will be a wise investment method to purchase an industrial logistics warehouse as the best investment. We will provide the best offers to the best investors. Very good 1031 Exchange building.
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FeaturesGeneralUtilities ElectricityAvailable PhoneAvailable SewerAvailable UndergroundUtilities WaterAvailable
Zoning LCM11/2'
Construction Materials Brick Concrete
Year Built 1972
Electric ElectricityOnProperty Heavy
Property SubType Warehouse
Business Type Commercial Distribution Manufacturing Transportation
County Los Angeles
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions West Rosecrans Ave and south Broadway corner
City Gardena
View Y/N N
Senior Community Y/N N
MLS Area 120 - South Gardena
Lot Size Units SquareFeet
Lot Size Square Feet 141595.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Rosecrans
Listing Terms CashtoExistingLoan CashtoNewLoan Item1031Exchange GovernmentLoan
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N Y
Rent Control Y/N N
Days on Market 408
Building Area Units SquareFeet
Standard Status Active
Occupancy Type Tenant
Property Sub Type Additional Warehouse
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ExteriorFencing CrossFenced ExcellentCondition
Lot Features Item01UnitAcre Paved RectangularLot SprinklerSystem
Water Source Public
Lot Size Area 141595.0
Number of Buildings 1
Spa N
Building Area Total 78088.0
Street Suffix Avenue
Lot Size Acres 3.2506
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 1
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Laundry Features None
Electric On Property Y/N N
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* Excluded FeaturesList ByBerkshire Hathaway HomeserviceBroker
Affordability Calculator
- Monthly Principal & Interest
- $203,444
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Gardena, CA
Average List Price $4,414,379
Percent of Sale Price 86%
About Gardena, CA 59,812 Population
3% Since 2002
$ 51,555 Median Income
39.66 Median Age
28% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
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12/14/2022 | $30,610,000 | | Listed Price |