29,638 SF Single Story Creative/Retail/Office Building On A 41,450 SF Lot w/flexible zoning 1621-1637 LONG BEACH BLVD. Long Beach, CA 90813 Midtown District
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29,638 SF Single Story Creative/Retail/Office Building On A 41,450 SF Lot w/flexible zoning
1621-1637 LONG BEACH BLVD. Long Beach, CA 90813
Midtown District
Page 2
Approximately 29,638 SF of retail/office building is available for Sale. Located on the he high traffic corridor of Long Beach Blvd along the Long Beach Metro. Existing Tenants include Centro Cha (Non-Profit) and Intellectual Virtues Academy (Charter High School) leaving 11,288 SF of vacant office/retail space. This investment is perfect for an owner-user who could occupy a portion of the property while collecting rental income from the existing tenants. This property would also be appealing for an investor.
PROPERTY DESCRIPTION • High-Trussed Ceiling • Former School Space • Several Large Room/Classrooms
Propertyinformation
• On-Site Parking • Artistic Building Design • Owner/User available with rental income
Executive
SUMMARY
PROPERTY DESCRIPTION
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# 01330395. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks licensed to Coldwell Banker Commercial affiliates. Each office is independently owned and operated.
BUILDING DESCRIPTIONAddress: 1621-1637 Long Beach Blvd. Long Beach, CA 90813Cross Streets: 16th St. & Long Beach Blvd.Price: $4,650,000Year Built: 1950Building Size: 29,638 SFLot Size: 41,450 SFPrice/SF: $157.00APN: 7269-018-002,003 & 7269-018-016; 7269-019-033Parking Spaces: 15Zoning: LBPD29
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Location information
constantly changing. Long Beach combines the bustle of Los Angeles with the beach town vibe of Orange County and is geographically situated just between the two.
Long Beach is a premiere destination for beach activities and water sports including sailing, diving, swimming, beach volleyball and more. The city also features several destinations that attract visitors from across Southern California and from around the world. Long Beach Museum of Art, Long Beach Opera, and the Long Beach Convention Center host a variety of cultural and entertainment events. The RMS Queen Mary, a 1936 art deco ocean liner is permanently docked in the city and serves as a hotel and maritime museum. In addition, the Downtown District and Downtown Core are sites of a thriving retail and commercial environment in the city.
Long Beach is the 7th largest City in the State of California, and 36th in the nation, located just 25 miles south of Los Angeles. The City occupies 52 square miles with a population of over 550,000. Long Beach is a main player in the Southern California economy, plus the gateway to the Pacific Rim with the Port of Long Beach being one of the largest commerce and trade facilities in the World. Commerce and industry in the area have thrived with skilled, well-educated employees being on the driving force behind technology centers, aerospace, trade, sophisticated logistics, transportation, engineering, telecommunications, health care, and peripherals.
Long Beach is a diverse city that blends influences from around the world into lively destination earning it the nickname, “The International City.” Both residential and industrial, urban and suburban, historic and innovative, Long Beach is a city that is
LOCATION DESCRIPTION
Page 4
CLIENT NAME: 6TH & PINE DEVELOPMENT (LAO604)
1621-1648 LONG BEACH BLVD (LA16210)DETAIL RENT ROLL
AS OF MARCH 31, 2019
FUTURE SCHEDULED CHARGE INCREASESLEASE DATES
SECURITYDEPOSIT
CHARGECODE
COSTRECOVERY
OTHERCHARGES
CHARGECODE
STEPDATE
FUTUREAMOUNT
ANNUALPSF
LEASE/CURRENT
SQFTMONTHLY
RENTSTARTDATE
ENDDATE
ANNUALPSF
TENANTNAME
UNITNUMBER
1633 Centro CHA Inc.(la162110)
01-Sep-16 31-Aug-21 6,0886,088
rntcredt (820.00) (1.62)rntrtl 5,956.00 11.74
rntrtl 6,110.00 12.0401-Sep-19rntrtl 6,269.00 12.3601-Sep-20
1635 Vacant 13,030 0.00
1637 Intellectual VirtuesAcademy of Los Angeles(la162120)
01-Sep-16 31-Jul-19 7,6357,635
rntrtl 14,483.87 22.76
HALLWAY Intellectual VirtuesAcademy of Los Angeles(la162120)
01-Sep-16 31-Jul-19 2,0002,000
SCIENCE Centro CHA Inc.(la162110)
01-Sep-16 31-Aug-21 885885
rntrtl 823.05 11.16
20,442.92 0.00 0.00Totals Leases Currently Occupying Space:
TOTALS FORLEASED SQFT:
0.00Total Leased Sqft:Not Leased Sqft:
Total Sqft:
16,60856.04% 20,442.92 0.00 0.00
43.96%100.00%
13,03029,638
29,638100.00%Total Sqft:
TOTALS FORCURRENT SQFT: 13,03043.96%Not Leased Sqft:
16,60856.04%Total Leased Sqft:
1This report is solely for the intended recipient and contains confidential or privilegedinformation. If you are not the intended recipient, any disclosure, copying, use, or distributionof the information included in this report is prohibited.
21-Feb-19 7:35:06AM\\asp1\0fs\0usersdefpaths\cushman\cushwake\reports\ro_y60_cwd_cs_rent_roll_new_non_blended_ltr.rpt
Propertyinformation
Rent
ROLL
Page 5
Propertyinformation
Budget
COMPARISON
Budget Summary_LB BLvd_2019.xlsxLB BLvd Budget Summary 7/31/2019
Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Total
INCOME
RENT Basic Rent 21,262.87 21,262.87 21,262.87 21,262.87 21,262.87 21,262.87 21,262.87 21,262.87 21,416.87 21,416.87 21,416.87 21,416.87 255,770.44Rental Rebates (820.00) (820.00) (820.00) (820.00) (820.00) (820.00) (820.00) (820.00) (820.00) (820.00) (820.00) (820.00) (9,840.00)Total Rent 20,442.87 20,442.87 20,442.87 20,442.87 20,442.87 20,442.87 20,442.87 20,442.87 20,596.87 20,596.87 20,596.87 20,596.87 245,930.44
ESCALATIONS/EXPENSE CAPTUREDir Tenant Billing - Utilities 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 17,400.00Direct Tenant Bill - Misc. Operating Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Total Escalations/Expense Recapture 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 1,450.00 17,400.00
TOTAL INCOME 21,892.87 21,892.87 21,892.87 21,892.87 21,892.87 21,892.87 21,892.87 21,892.87 22,046.87 22,046.87 22,046.87 22,046.87 263,330.44
1621-1637 Long Beach Blvd OPERATING BUDGET DETAIL
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Propertyinformation
Budget
COMPARISON
Budget Summary_LB BLvd_2019.xlsxLB BLvd Budget Summary 7/31/2019
Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Total
1621-1637 Long Beach Blvd OPERATING BUDGET DETAIL
EXPENSESCLEANINGCleaning P/R General 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 600.00Cleaning General 785.00 785.00 785.00 785.00 785.00 785.00 785.00 785.00 785.00 785.00 785.00 985.00 9,620.00Cleaning Supplies 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 1,800.00
Total General Insurance 985.00 985.00 985.00 985.00 985.00 985.00 985.00 985.00 985.00 985.00 985.00 1,185.00 12,020.00
REPAIRS & MAINTENANCER&M - Engineer Labor 1,750.00 200.00 200.00 200.00 1,750.00 200.00 200.00 200.00 200.00 1,750.00 200.00 200.00 7,050.00R&M - Elev Svc Contract 350.00 0.00 0.00 0.00 0.00 350.00 0.00 0.00 0.00 0.00 0.00 0.00 700.00R&M: HVAC: Supplies & Material 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 1,200.00R&M: Electrical: Supplies 50.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50.00 0.00 100.00R&M: Life Safety System - Contract 147.00 147.00 147.00 147.00 147.00 147.00 297.00 147.00 147.00 147.00 147.00 147.00 1,914.00R&M: Trash Removal 110.00 110.00 110.00 110.00 110.00 110.00 110.00 110.00 110.00 110.00 110.00 110.00 1,320.00R&M Other: Supplies & Maintenance 70.00 0.00 0.00 70.00 0.00 0.00 70.00 0.00 0.00 70.00 0.00 0.00 280.00R&M Other: Lock & Keys 0.00 0.00 0.00 0.00 0.00 65.00 0.00 0.00 0.00 0.00 0.00 0.00 65.00R&M Other: Windows 0.00 0.00 0.00 0.00 0.00 2,500.00 0.00 0.00 0.00 0.00 0.00 0.00 2,500.00R&M Other: Miscellaneous 0.00 0.00 0.00 0.00 0.00 500.00 0.00 0.00 0.00 0.00 0.00 0.00 500.00
Total R&M 2,577.00 557.00 557.00 627.00 2,107.00 3,972.00 777.00 557.00 557.00 2,177.00 607.00 557.00 15,629.00
UTILITIESUtilities: Electricity 1,094.14 1,387.59 1,334.52 1,190.65 1,604.35 2,705.33 3,440.07 3,230.41 2,137.29 1,392.61 2,889.15 2,233.04 24,639.13Utilities: Water 204.97 663.32 678.77 482.04 340.93 819.88 692.16 374.92 725.12 454.23 463.50 463.50 6,363.34Utilities: Gas 21.01 281.81 39.59 67.61 130.16 49.23 15.66 18.86 41.20 33.99 105.06 116.39 920.57
Total Utilities 1,320.12 2,332.71 2,052.88 1,740.30 2,075.44 3,574.44 4,147.88 3,624.19 2,903.61 1,880.83 3,457.71 2,812.93 31,923.05
MANAGEMENT FEESThird Party Management Fees 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 42,000.00
Total Management Fees 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 42,000.00
OFFICE COSTSTelephone 15.50 15.50 15.50 15.50 15.50 15.50 15.50 15.50 15.50 15.50 15.50 15.50 186.00Office Supplies 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 180.00
Total Office Costs 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 366.00
TAX/LICENSES/PEMITSProperty Taxes 3,962.04 3,962.04 3,962.04 3,962.04 3,962.04 3,962.04 4,041.28 4,041.28 4,041.28 4,041.28 4,041.28 4,041.28 48,019.90Permits & Licenses 0.00 0.00 0.00 0.00 0.00 549.00 0.00 0.00 0.00 0.00 0.00 0.00 549.00
Total Property Taxes 3,962.04 3,962.04 3,962.04 3,962.04 3,962.04 4,511.04 4,041.28 4,041.28 4,041.28 4,041.28 4,041.28 4,041.28 48,568.90
INSURANCEProperty Insurance 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 7,260.00
Total Insurance 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 605.00 7,260.00
EXPENSES 12,979.66 11,972.25 11,692.42 11,449.84 13,264.98 17,177.98 14,086.66 13,342.97 12,622.39 13,219.61 13,226.49 12,731.71 157,766.95
Budget Summary_LB BLvd_2019.xlsxLB BLvd Budget Summary 7/31/2019
Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Total
1621-1637 Long Beach Blvd OPERATING BUDGET DETAIL
NET OPERATING INCOME 8,913.21 9,920.62 10,200.45 10,443.03 8,627.89 4,714.89 7,806.21 8,549.90 9,424.48 8,827.26 8,820.38 9,315.16 105,563.49
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Property
INFORMATION
16TH STREET
LONG
BEA
CH B
LVD.
Propertyinformation
Page 8
1621 Long Beach Blvd.Photos
Page 9
1647 Long Beach Blvd.Photos
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For more information contact:
Becky Blair, CCIMPresident & PrincipalT: 562.301.4515 | O: 562.548.7397BRE #[email protected]
Sheva HosseinzadehAssociate Vice PresidentT: 562.400-5949 | O: 562.548.7410BRE #[email protected]
Coldwell banker commercial CBC Blair Westmac333 West Broadway, Ste. 312Long Beach, CA 90802Company BRE #01330395www.cbcblair.com
SUBJECTPROPERTY
Long Beach Blvd.
Pacific Ave.magn
olia
ave.
Oreg
on av
e.
710
Pacific Coast Hwy. 1
Long Beach Blvd & Pch Retail
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