Listed by Jared Levine, Keller Williams Realty Calabasas,

1234 Lomita Boulevard

Harbor City, CA, 90710

$7,995,000

$354 per ft²
$7,995,000
$354 per ft²
Active
Active
 - For Sale
carpenters-square
22,568 ft²
property_type
Commercial
calendar
Built 1987
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.
MLS® ID:
SR22219858
Listed:
10/10/22
Updated:
12/4/22
Vista | Sotheby's International Realty
Gerard Bisignano

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
See Remarks

Exterior/Building Features

Lot Size
1.12 acres lot
Lot Details
Landscaped

Other Property Details

Area Name
124 - Harbor City
Garage
No
Parking
N
Parking Total
44.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Total Stories
1

Property History

Date
Event
Price
Value
11/28/22
Price Change
$7,995,000
-5%
11/9/22
Price Change
$8,494,000
0%
11/1/22
Price Change
$8,495,000
100%
10/24/22
Price Change
$8,494,000
0%

Courtesy of Keller Williams Realty Calabasas, Jared Levine,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/4/22. 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, 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.

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Data last updated 6:57 PM UTC, 12/4/22

Vista | Sotheby's International Realty
Gerard Bisignano
Contact