Property details
Propery Type:
Industrial
Address:
2000 W 62nd St Los Angeles, CA 90047
Offering Price:
$3,395,000
Units:
Cap Rate:
5.75%
Listed By
Jonathan Weir
Senior Managing Director Investments
(424) 405-3900
Stefan Ignjatovic
Director Investments
(424) 405-3834
Contact Us
Investment Highlights

Marcus & Millichap is pleased to present 2000-2010 W 62nd Street, a 26,114-square-foot, two-story masonry industrial building situated on approximately 0.66 acres across three parcels in the South Los Angeles industrial submarket. Built in 1926, the Property features approximately 34 gated and striped parking spaces, a freight elevator serving the second floor, fire sprinklers, both single-phase and three-phase power and two dock-high loading doors. The Property is one of four industrial assets being offered by the same ownership and may be acquired individually or together as part of the broader South Los Angeles industrial portfolio. Additionally, the Property is located within a Qualified Opportunity Zone, potentially providing significant tax advantages for qualified investors, subject to buyer verification.Currently approximately 88% occupied, the Property offers a rare combination of immediate occupancy and value-add upside. One vacant suite totaling approximately 3,204 square feet, together with seven month-to-month tenants occupying approximately 16,857 square feet, provides a buyer with control of approximately 20,061 square feet, or 77% of the building, within 30 days without lease buyouts or relocation costs. Three suites remain subject to longer-term leases, allowing an owner/user to occupy the majority of the Property while benefiting from in-place income. Investors are presented with a mark-to-market opportunity, with existing rents averaging approximately $0.89 per square foot compared to market rents of approximately $1.00 to $1.25 per square foot, industrial gross.The Property features two dock-high loading doors with interior truck loading positions, a freight elevator serving the second floor, fire sprinklers, and clear heights ranging from approximately 10 to 16 feet. Historically operated as a single-user industrial facility, the building was subsequently demised for multi-tenant occupancy, creating flexibility for both investors and owner/users. The floor plates can be reconsolidated for a larger user seeking to maximize operational efficiency and recover the benefit of the building's full 26,114 rentable square feet. The Property's approximately 34 gated parking spaces provide a parking ratio of approximately 1.72 spaces per 1,000 usable square feet, supporting employee parking, customer traffic, fleet storage, and operational staging in a submarket where parking is often a critical constraint. These features make the Property well suited for manufacturing, contractor, warehouse, storage, distribution, service, and creative-industrial users.Located within the heart of South Los Angeles with convenient access to the Harbor Freeway 110, Downtown Los Angeles, Vernon, and the Ports of Los Angeles and Long Beach, the Property benefits from excellent regional connectivity and access to one of the largest labor pools in Southern California. Combined with its Qualified Opportunity Zone designation, substantial near-term occupancy potential, extensive secured parking, in-place income, and clearly defined lease-up opportunity, 2000-2010 W 62nd Street presents a compelling opportunity for both owner/users and investors seeking strategically located infill industrial product in a highly supply-constrained market.

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Listed By
Jonathan Weir
Senior Managing Director Investments
(424) 405-3900
Contact Us

2000 W 62nd St

Los Angeles, CA
90047
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