KIRK GARABEDIAN Director 0: 818.588.0072 C: 818.298.8810 [email protected]CA DRE #01216376 8930-8934 STATE STATE, SOUTH GATE, CA PRESENTED BY: OFFERING MEMORANDUM 3-Unit Retail & Workshop | South Gate, CA OFFERING MEMORANDUM | 8932-8934 STATE ST | SOUTH GATE KW COMMERCIAL 889 Americana Way, Ste. #408 Glendale, CA 91210
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KIRK GARABEDIANDirector0: 818.588.0072C: [email protected] DRE #01216376
8930-8934 STATE STATE, SOUTH GATE, CA
PRESENTED BY:
OFFERING MEMORANDUM
3-Unit Retail & Workshop | South Gate, CA
OFFERING MEMORANDUM | 8932-8934 STATE ST | SOUTHGATE
KW COMMERCIAL889 Americana Way,Ste. #408Glendale, CA 91210
Each Office Independently Owned and Operated x486405.yourkwagent.com/ 2
OFFERING MEMORANDUM
Confidentiality & DisclaimerSOUTH GATE, CA
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness ,veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived,or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independentprofessionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KWCommercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any partyregarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that maybe provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with acertified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KirkGarabedian | KW Commercial in compliance with all applicable fair housing and equal opportunity laws.
KW COMMERCIAL889 Americana Way,Ste. #408Glendale, CA 91210
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors shouldconduct your own investigation of the property and transaction.
1PROPERTY INFORMATION3-UNIT RETAIL & WORKSHOP | SOUTH GATE, CA
OFFERING MEMORANDUM
Each Office Independently Owned and Operated x486405.yourkwagent.com/ 4
OFFERING SUMMARYSALE PRICE: $650,000
NUMBER OF UNITS: 3
CAP RATE: 5.0%
NOI: $32,500
LOT SIZE: 5,589 SF
YEAR BUILT: 1946
BUILDING SIZE: 2,030
ZONING:NM - NeighborhoodMedium
MARKET: Los Angeles County
SUBMARKET: Mid-Cities
PRICE / SF: $320.20
PROPERTY OVERVIEWWe are pleased to present a 3-unit retail & workshop property, located in the City of South Gate on State Street near the largesignalized intersection of State Street and Firestone Boulevard. This property presents a rare opportunity to purchase anaffordable multi-tenant property that will allow an owner-user to occupy one of the suites and rent out the rest of the units togenerate income.
The property is approximately 2,030 square feet in size and is situated on nearly 5,600 square foot of land. Each unit is between600 to 700 square feet, with two retail storefronts units in the front and a workshop unit in the back. There is a driveway whichleads from State Street to the parking lot in the rear.
At the present time, the property has one retail unit and the rear workshop unit occupied. All of the tenants are on a month tomonth lease and are enjoying below market rents.
We ask that you do not disturb the tenants and contact the Listing Agent for additional details.
PROPERTY HIGHLIGHTS• A 3-Unit Retail & Workshop Property
• Affordable Three Unit Property
• Includes Private Parking Lot with Entrance From State St
• Centrally Located Near Firestone Boulevard
• All Tenants are on Month to Month
• One Vacant Unit Ready to Occupy
Executive Summary
3-UNIT RETAIL & WORKSHOP | SOUTH GATE, CA 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated x486405.yourkwagent.com/ 5
PROPERTY OVERVIEWWe are pleased to present a 3-unit retail & workshop property, located in the City of South Gate on State Streetnear the large signalized intersection of State Street and Firestone Boulevard. This property presents a rareopportunity to purchase an affordable multi-tenant property that will allow an owner-user to occupy one of thesuites and rent out the rest of the units to generate income.
The property is approximately 2,030 square feet in size and is situated on nearly 5,600 square foot of land.Each unit is between 600 to 700 square feet, with two retail storefronts units in the front and a workshop unit inthe back. There is a driveway which leads from State Street to the parking lot in the rear.
At the present time, the property has one retail unit and the rear workshop unit occupied. All of the tenants areon a month to month lease and are enjoying below market rents.
We ask that you do not disturb the tenants and contact the Listing Agent for additional details.
LOCATION OVERVIEWThe property is located on State Street near the signalized intersection of State Street and Firestone Boulevard.The immediate area has an eclectic mix of retail, medical and service-based businesses along with someresidential properties and a thriving neighborhood atmosphere. The population in area is 96,000 and nearly13,000 people per square mile. Neighboring communities include Bell Gardens, Cudahy, Downey,Florence-Firestone, Huntington Park, Lynwood, Paramount, Walnut Park and Watts.
Property Description
3-UNIT RETAIL & WORKSHOP | SOUTH GATE, CA 1 | PROPERTY INFORMATION