Marcus & Millichap is pleased to present for sale 1603 South Central Avenue, located in Downtown Los Angeles. This warehouse/wholesale building measures approximately 5,660 square feet on a parcel of land measuring approximately 7,864 square feet. Built in 1966, the property currently houses one tenant and features on-site parking for approximately 5-7 vehicles.
The property is located on Central Avenue, a north-south arterial that runs through Downtown Los Angeles. The building is conveniently located just north of the 10 Freeway within proximity to the Fashion, Arts, Produce, and Wholesale Districts, and is minutes from the Convention Center, Staples Center, LA Live and the Financial districts. The property benefits from excellent access to the 10 Freeway and easy access to multiple other freeways, including the 5, 60, 101 and 110 Freeways.
Priced at $2,200,000 the property provides an excellent opportunity for an investor to acquire a fully leased investment property in one of the most sought after industrial markets in the country. The property provides an NOI of $104,381 annually which equates to a 4.74% return. Alternatively, since the current lease is short-term, the property could also be an attractive owner-user opportunity.
