3475 Torrance Blvd

3475 Torrance Blvd 3475 Torrance Blvd
Torrance, CA 90503

  • $5,930,000

    Sale Price

  • 6.32/1,000

    Parking Ratio

  • 100%

    Occupancy

  • Multi

    Tenancy

  • 23.00%

    Rents Below Market

  • 15,510

    Square Feet

Sale Summary

Address

  • 3475 Torrance Blvd
    Torrance, CA 90503

Sale Details

  • Sale Price$5,930,000
  • Sale Price PSF$382
  • Closing Date11/8/2021

Sale Description

3475 Torrance Boulevard, a 15,510-square-foot, medical office building located in Torrance, California was 100% occupied by 7 tenants who have maintained a long-term historical occupancy at the Property. Investors were presented with a near-term mark-to-market opportunity with rents that are 23% below market with 2 years of weighted average remaining lease term.

Situated on an expansive 1.23 acre parcel, the offering presented investors with an attractive covered land opportunity in the robust development Torrance submarket, which has over 875 residential units either proposed, approved, or under construction.

Ideally located in the South Bay, 3475 Torrance Blvd offered an incredible opportunity to acquire the fee simple interest in a value-add medical office building with long-term redevelopment optionality.

Address

  • 3475 Torrance Blvd
    CA 90503

Sale Details

  • Sale Price$5,930,000
  • Sale Price PSF$382
  • Closing Date11/8/2021