Property Detail

Description

Unique opportunity to acquire a multi-tenant medical and professional office building in one of San Pedro’s most desirable locations near the established medical corridor and Providence Little Company of Mary Medical Center. Built in 1962, the approximately 5,243-square-foot building is situated on a 5,394-square-foot lot and is configured into four suites, offering an attractive opportunity for both investors and owner-users. The property currently generates approximately $102,792 in annual gross rental income, with reported operating expenses of $50,756 and net operating income of approximately $52,036. Current monthly rents include Suite A at $1,505 (month-to-month), Suite C at $3,250 (lease expires 6/30/29), Suite D at $1,731 (lease expires 4/30/28) and Suite E at $2,080 (lease expires 1/31/29). Investors may benefit from an established income stream together with potential long-term upside through future rent optimization. An owner-user may also appreciate the flexible multi-suite configuration and current short-term leases allowing for future occupancy of one or more suites while retaining income from the remaining tenants. A nice feature is the gated parking garage located below the suites. It offers 13 secure parking spaces with direct access to the building lobby providing safe and secure access for employees. The property’s proximity to the hospital, established medical offices and neighboring Weymouth Corners retail center make it a very desirable location that will always be in high demand if and when a suite becomes vacant. This is a compelling opportunity to acquire a manageable multi-tenant asset in a desirable San Pedro location with existing income, secure onsite parking, flexible occupancy potential and an attractive foundation for long-term value creation. Don't miss it!