Sold

1234 Lomita Boulevard

Harbor City CA, 90710

$4,899,999


$217.12 per sqft

Sold

22,568 sqft

Commercial

Built in 1987

Listed by Jared Levine with Keller Williams Realty Calabasas 818-657-6500

As the exclusive listing agent, we are pleased to present the opportunity to acquire Lomita Plaza (Harbor City) in the sub market of Torrance and in close proximity to San Pedro and The Port of Los Angeles. This offering includes a freestanding retail strip center made up of three (3) buildings built in 1987 with a foot print of approximately 22,568 SF, sitting on a 48,868 SF lot with 191' (+/-) of frontage on Lomita Blvd.

Lomita Plaza offers an investor the rare opportunity to acquire the only retail strip center currently for sale in Harbor City with a stable and diverse tenant mix. It is important to note, that in the last 10 years no retail strip centers north of 20K SF have sold in Harbor City making this truly a unique opportunity to secure something of this size. The property has been owned and managed under the current ownership since 2007 (+/-) and is truly a value add opportunity with in place rents below market at an average of $1.24 per SF while the submarket market rent ranges between $2.25 and $3 a foot (+/-). This well-located retail strip center offers an investor a very special opportunity to secure a large sized asset in a high demand and growth submarket with real reposition opportunity and impressive frontage.

Harbor City is a diverse neighborhood in the Harbor region of Los Angeles, California originally part of the Rancho San Pedro Spanish land grant. The 2.58 Square mile city is flanked by Harbor Gateway to the north, West Carson/Wilmington to the east, Wilmington/San Pedro/Port of Los Angeles to the south, and Torrance/Lomita to the west. Living in Harbor City offers residents an urban suburban mix feel with lots of restaurants, coffee shops, and parks like the prized landmark Ken Malloy Harbor Regional Park. Many families and young professionals live in Harbor City with public schools trending above average and its proximity to the Pacific Ocean influencing both its culture and economy. Nestled right at the convergence of PCH and freeways, Harbor City allows for easy access to the wider region and key employment centers. This well located asset offers an investor a great opportunity to secure one of the largest Retail Strip Centers in the City with value add potential thru reposition and renovation.

SR22219858

MLS ID

October 11, 2022

Listed

March 23, 2024

Updated

Map

1234 Lomita Boulevard
Harbor City CA, 90710

Interior Features

Total Stories

1


Laundry Description

See Remarks


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

1.12 Acres


Lot Features

Landscaped

Other Property Details

Area Name

124 - Harbor City


Days on Market

113


Garage

No


Parking Total

44


View

No


County

Los Angeles


Water Source

Public


Pool

No


Buyer Agency Compensation

1.5%

Listing Contact: 818-657-6500 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:19 AM UTC

 

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