2600 Main St
Owner/User or Redevelopment Opportunity with strong rental upside
Marketing description
Three (3) contiguous parcels at the signalized intersection of major arteries Main St & Adams Blvd, only 3 blocks from the Lorenzo Apartments—one of USC's largest off-campus student housing communities. Consists of:
A two-story industrial/flex building of 18,200 SF zoned M1
A single-story 4-unit residential apartment zoned R4, and
A parking lot zoned R4
The property is currently 100% occupied by Month-To-Month tenants, which allows a Buyer the flexibility to occupy all or part of the building(s), and/or to collect rental income from the existing tenants while pursuing a strategy to renovate or redevelop the property. In-place NOI is approximately $175,000 with the Buyer's new tax basis. Strong rental upside: pro-forma cap rate is 7.3% or higher after light renovation. Call broker for more details.
Investment highlights
Fully occupied by all month-to-month tenants, entire property can be occupied by Buyer or leased out
Only 3 blocks away from one of USC's largest off-campus student housing development—the Lorenzo Apartments
First time on the market in over 20 years
Three contiguous parcels for a total of 23,774 SF of land - allows for redevelopment potential
Located in an Opportunity Zone - provides significant federal capital gains tax incentives
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