1608 15 StAgoura Hills, CA 90021

Property Details for 1608 15 St

Year built

1924

Construction

TILT-UP CONCRETE

Lot size

0.54 AC

Property size (Sq ft)

36,758 SF

Zone code

LAM2

Property type

Warehouses

APN

5130-017-015

APU

5130017015

Description

This exceptional 29,036-square-foot warehouse, located at 1608-1612 E 15th Street in Los Angeles, CA 90021, presents a unique investment opportunity. Built in 1929 and extensively renovated in 2019, this four-story high-rise building boasts 18-foot ceilings on three floors, providing ample storage and operational space. The property features 16 dock-high doors and one drive-in door, ensuring efficient loading and unloading. A fenced yard offers additional security and ample space, complemented by 18+ parking spaces. The building is equipped with a 4,000 lb freight elevator and a 3000 Amp power supply (installation expected by the end of 2023). Situated in a quiet neighborhood, this single-tenant warehouse benefits from excellent building signage opportunities. Zoned LA M-2, the property is cannabis-permissible. The property's location is easily accessible via 15th Street and Compton, in Los Angeles County. The APN is 5130-017-015. This is a rare opportunity to acquire a well-maintained, strategically located industrial property with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $24,978,800

  6.5%

  $23,057,300

  7%

  $21,410,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,183,800

  Geo Method

  $11,183,800

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $11,604,100

  Mixed-Use / Specialty

  $11,389,700

  Hospitality / Lodging

  $8,130,980

  Office

  $11,141,800

  Institutional / Educational

  $11,778,900

  Residential Income

  $13,781,300

  Multifamily

  $17,487,800

  Automotive / Energy

  $10,096,200

  Parking / Income-Based Land

  $3,655,010

  Restaurant / Food Service

  $5,554,590

  Healthcare / Senior Housing

  $11,857,400

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0242

Longitude

-118.243

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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