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Key Details
Sold Price $2,690,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24104372
Sold Date 08/02/24
HOA Y/N No
Year Built 1972
Lot Size 0.629 Acres
Property Description
Welcome to 14601 S Main Street, a strategically located property boasting M-2-IP zoning for "Heavy Manufacturing." Currently vacant and in a shell condition, this free-standing building presents a blank canvas for your vision.
The subject property was vandalized, its electrical & HVAC system was stolen, and per the Phase I Environmental Site
Assessment Report completed 2019 by an Environmental Professional and Others did not identify any CRECs, HRECs or de minimis conditions associated with the Property, and the assessment also revealed no evidence of Recognized Environmental Conditions (RECs) in connection with the Property. The report should be reviewed in its entirety to fully understand environmental conditions associated with the Property.
The new owner will have to invest $1,238,510.38 to restore the property, that will require the installation of necessary mechanical HVAC, electrical systems, addressing roof repairs, as well as managing asbestos and vapor intrusion contamination.
Recently appraised on April 12, 2024, the property holds significant value. The Market Value As-Is stands at $3,470,000 ($227.69 PSF), while the Hypothetical Market Value As If Repaired is $4,720,000 ($309.71 PSF). The appraiser identified the property as a single-tenant 15,240 SF (GBA) industrial property, situated on a site totaling 27,346 SF (approximately 0.63 acres), nestled in Gardena, Los Angeles County, California.
Situated in the bustling West Rancho Dominguez area, this property offers high traffic commercial/retail exposure with a distinct Main Street identity. It provides a flexible opportunity for establishing a manufacturing business, catering to owner-users, or serving as a prime development site for investors seeking opportunities in this thriving neighborhood.
Don't miss out on this exceptional investment opportunity. Contact us today to explore the potential of this prime industrial property.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Building
Lot Description Corner Lot
Story 1
Water Public
Others
Tax ID 6129009061
Acceptable Financing Cash
Listing Terms Cash
Financing Cash to Loan
Special Listing Condition Standard
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Bought with Eric Chavez • CAREBF INC
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960