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Est. payment | /mo
5,850 SqFt
$ 2,000,000
Est. payment | /mo
5,850 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 5,850 sqft
Price per Sqft $341
MLS Listing ID CL26841321
HOA Y/N No
Year Built 1963
Lot Size 0.320 Acres
Acres 0.32
Property Sub-Type Comm Ind For Sale
Property Description
We are pleased to present 5960-5964 Florence Avenue, a 5,850-square-foot neighborhood strip center located in Bell Gardens, California, a densely populated community in southeast Los Angeles County. The property features a total of five units, one vacant and four occupied by service-oriented tenants operating under Modified Gross leases, delivering consistent cash flow with strong expense margins. The tenant mix includes a restaurant, juice bar, barber shop and laundromat businesses that serve daily neighborhood needs and demonstrate recession-resistant demand patterns. The property benefits from high street visibility along Florence Avenue, a primary east-west retail corridor connecting multiple municipalities. Anchored by a 1,850-square-foot laundry facility, the center provides essential services to a predominantly working-class, high-density residential trade area.All four tenants operate under Modified Gross lease structures with the landlord responsible for property taxes, building insurance, and common area trash service. Current aggregate annual base rent totals an estimated $172,740, generating a estimated Net Operating Income of $125,893. Lease expirations are staggered between 2023 and 2026, providing strategic rollover opportunities without significant income disruption. The weighted average rent across all tenants is $1.71 per square foot per month. The 1,850-square-foot laundromat anchor currently pays $1.17 per square foot, approximately 32% below the center average, presenting substantial rental upside upon its 2025 lease expiration. The Modified Gross structure provides expense predictability and landlord control over operating costs while maintaining strong net margins. All tenants serve neighborhood-based customer demographics with high repeat-visit frequency.Bell Gardens occupies a strategic position in the Southeast Los Angeles submarket, approximately 10 miles east of Downtown Los Angeles with direct access via Interstate 5 and State Route 710. Florence Avenue functions as a major arterial corridor connecting multiple municipalities and generating consistent vehicular and pedestrian activity. The immediate trade area features high-density multifamily residential development with limited single-family housing and strong renter demographics. Nearby demand drivers include Rio Hondo Community College (12,000+ students), Los Angeles County government facilities, and established retail nodes along Atlantic Boulevard and Garfield Avenue. The
Location
State CA
County Los Angeles
Zoning BGC4*
Interior
Fireplace No
Exterior
Total Parking Spaces 21
Building
New Construction No
Others
Tax ID 6227006012
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Listed by Oron Maher • Maher Commercial Realty
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Patrick Nagel
REALTOR® | Lic# 1760790