Prime Owner/User or Investment Property! | 2215-2221 W 190th St
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Prime Owner/User or Investment Property! 2215-2221 W 190th St
8,762 SF 100% Leased Office Building Torrance, CA 90504 $4,500,000 ($514/SF) 4.35% Cap Rate
Investment Highlights
- Artistic Loft Feel: The 2215 space with 2-story ceilings provides a unique and open atmosphere ideal for creative or tech-oriented businesses.
- Zen Garden & Outdoor Shower: A serene outdoor space adds to the property's appeal, offering a place for relaxation and informal meetings.
- Turnkey Opportunity: The Seller is willing to leave most of the existing furniture, simplifying the move-in process for the buyer.
- Versatile Office Space: The property includes multiple private offices, a large storage/server room, and flexible open areas.
- Mezzanine Space: Both 2215 and 2221-B have 2nd-floor mezzanine areas, providing additional space and functionality.
- Owner/User Potential: Ideal for a buyer looking to occupy 2215 W. 190th Street while generating additional income from the other tenants.
Executive Summary
Rentable Square Feet: Approximately 4,079 sq. ft.
Occupant: Seller currently occupies this space but plans to downsize and take over 2221-B
Description: This space features 2-story ceilings, offering an artistic loft feel. It includes 6 private offices, a large storage/server room, a large reception area, a waiting area with a built-in aquarium, a conference room, a kitchen, and an open area with modular cubicles. The Seller is open to leaving most of the furniture, making it a turnkey opportunity for buyers. Additionally, the space has access to a beautiful zen garden and an outdoor shower, with a 2nd-floor mezzanine space currently used as a gym. Projected rent is $2.70/ft modified gross when the Seller vacates or perfect for an owner/user.
• 2221-A W. 190th Street:
Rentable Square Feet: Approximately 2,388 sq. ft.
Occupant: Crisp Imaging
Description: Tenant has been a long term tenant, but renews every 2 years. Their current lease expires 8/31/25 and their rent as of
9/1/24 is $6,468.98/month
• 2221-B W. 190th Street:
Rentable Square Feet: Approximately 2,295 sq. ft.
Occupant: Currently occupied by two tenants. 1 paying $3,000/month for 1,119 sf ($2.70/ft) on month-to-month tenancy and the other tenant is paying $2,700/month for 1,176 sf on month-to-month tenancy after lease expires 8/31/24.
Description: The Seller plans to downsize and relocate to this space, displacing the current tenants. This offers an opportunity for an owner/user to take over the larger 2215 space or for an investor to negotiate with the tenants to move into the 2215 space. Like the 2215 space, 2221-B also features a 2nd-floor mezzanine which has a large private office and large open area for several work stations.
The Seller with leaseback at a rate of $2.70/ft modified gross for the entire 2,295 sf. Leasing back 2221-B and keeping the signage on the east wall is a condition of the sale. One of the current tenants may consider leasing back 2215 when displaced if the Buyer is an investor and not an owner/user.
This property offers a unique blend of artistic design, practical office space, and the flexibility of owner/user or investment potential.
Occupant: Seller currently occupies this space but plans to downsize and take over 2221-B
Description: This space features 2-story ceilings, offering an artistic loft feel. It includes 6 private offices, a large storage/server room, a large reception area, a waiting area with a built-in aquarium, a conference room, a kitchen, and an open area with modular cubicles. The Seller is open to leaving most of the furniture, making it a turnkey opportunity for buyers. Additionally, the space has access to a beautiful zen garden and an outdoor shower, with a 2nd-floor mezzanine space currently used as a gym. Projected rent is $2.70/ft modified gross when the Seller vacates or perfect for an owner/user.
• 2221-A W. 190th Street:
Rentable Square Feet: Approximately 2,388 sq. ft.
Occupant: Crisp Imaging
Description: Tenant has been a long term tenant, but renews every 2 years. Their current lease expires 8/31/25 and their rent as of
9/1/24 is $6,468.98/month
• 2221-B W. 190th Street:
Rentable Square Feet: Approximately 2,295 sq. ft.
Occupant: Currently occupied by two tenants. 1 paying $3,000/month for 1,119 sf ($2.70/ft) on month-to-month tenancy and the other tenant is paying $2,700/month for 1,176 sf on month-to-month tenancy after lease expires 8/31/24.
Description: The Seller plans to downsize and relocate to this space, displacing the current tenants. This offers an opportunity for an owner/user to take over the larger 2215 space or for an investor to negotiate with the tenants to move into the 2215 space. Like the 2215 space, 2221-B also features a 2nd-floor mezzanine which has a large private office and large open area for several work stations.
The Seller with leaseback at a rate of $2.70/ft modified gross for the entire 2,295 sf. Leasing back 2221-B and keeping the signage on the east wall is a condition of the sale. One of the current tenants may consider leasing back 2215 when displaced if the Buyer is an investor and not an owner/user.
This property offers a unique blend of artistic design, practical office space, and the flexibility of owner/user or investment potential.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
8,762 SF
Building Class
B
Year Built
2005
Price
$4,500,000
Price Per SF
$514
Cap Rate
4.35%
NOI
$195,839
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,762 SF
Building FAR
0.48
Lot Size
0.42 AC
Zoning
TOM1-HVY - Heavy Manufacturing
Parking
26 Spaces (2.97 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 4090-025-025 | Total Assessment | $2,918,322 |
| Land Assessment | $1,857,114 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,061,208 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
4090-025-025
Land Assessment
$1,857,114
Improvements Assessment
$1,061,208
Total Assessment
$2,918,322
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
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Prime Owner/User or Investment Property! | 2215-2221 W 190th St
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