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Key Details
Sold Price $875,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SW23061541
Sold Date 08/25/23
HOA Y/N No
Year Built 1956
Lot Size 3,968 Sqft
Property Description
Quality Mixed Use Investment Opportunity - One 2700 sq. ft. Commercial Retail Building with 2 - 1350 sq. ft. units, a single-tenant Liquor Store, and single tenant Taco Fish Restaurant located in Norwalk, California. This property is currently leased to a local and experienced convenience store operator – "Cheap Liquor Store", but for the past 10 years run by the owner of "Cheap Liquor Store" and has been operating ever since and serves the local neighborhood and community. This is an excellent opportunity for an investor looking to add value and capitalize on the growing commercial market. If vacant could accommodate nearly most commercial/industrial uses. The subject has adequate frontage, good ingress, and egress, adequate coverage ratio, and adequate parking capabilities. The subject property is within the M-1, Light Manufacturing zone, allowing commercial uses, and has a consistent land use designation. Close to the Santa Ana Freeway (I-5) and San Gabriel River Freeway (I-605) intersect at its northern edge, while the Century Freeway (I-105) intersects with the I-605 at the city's western edge. The Artesia Freeway (91) passes east/west just south of the city boundary. This Commercial Building is also perfect for the OWNER-USER to operate his or her business in the street front store and collects monthly rent from the other Tenant in the same building. The landlord's responsibility is limited to only taxes, insurance, and roof maintenance, a hassle-free investment, while the tenant's responsibility for all other expenses offers a predictable source of rental income. Don't miss out on this opportunity to acquire a stable and profitable asset for your portfolio. PLEASE DO NOT DISTURB CURRENT TENANTS. DRIVE BY and CALL LISTING AGENT.
Location
State CA
County Los Angeles
Area M1 - Norwalk
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry None
Exterior
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Building
Lot Description Corner Lot, Level, Near Public Transit, Paved, Street Level, Walkstreet
Story 1
Water Public
Others
Tax ID 7009005001
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Erica Moreno • Century 21 Allstars