Exclusive Listings

Priced to Sell Industrial building, Strategic Location near 3 freeways, Corner Large Lot (M zoned)

Address:
2402 Seaman Ave
South El Monte, CA 91733
Price:
$5,490,000
Status:
Available
Type:
Industrial
# Units:
3
Year Built:
1956
Building Size:
±20,866sf
Lot Size:
±35,706sf
CAP Rate:
4.35%
GRM:
16.58x
Price/Unit:
Price/SqFt:
$263

Investment Highlights:

  • Priced to sell industrial building with low price/sf compared to competing on-market properties
  • Priced at $263/SF compared to Average Sales Price $350 for Lower San Gabriel Valley submarket (Avg. Sales Price submarket is according to Costar submarket report)
  • Hard to find industrial building on a corner lot with large lot size and ample parking
  • First time ever offered for sale since 1990s (long-time family owned for ±30 years)
  • Vacant space is suitable for distribution, wholesale, or other logistics use
  • High demand area for industrial in a low vacancy submarket (±2.2% - Costar report)
  • 1 vacant unit good for owner user; 2 Long-term tenants on relatively short-term leases
  • Submarket rent growth in the past 12 months was 12.3% (according to Costar Submarket report)

Property Highlights:

  • Strategic location with excellent access to 3 freeways (FWY 10, FWY 60, FWY 605), 2 blocks from Rosemead BLVD (FWY 19), and 1 block from Garvey Ave
  • Corner large lot with M zoning
  • Secured parking area; ample parking with 29 spaces
  • Unit 2408 Seaman is vacant: warehouse space with ±15ft-±17ft clear height (buyer to confirm), office space, one (1) loading dock (alley access), two (2) grade-level roll-up doors, and additional mezzanine space
  • Unit 9919 Klingerman has built-out showroom area with sizable warehouse space, two (2) grade-level roll-up doors

EXECUTIVE SUMMARY

Growth Investment Group is pleased to exclusively present for purchase 2402 Seaman Ave, a single-story multi-tenant industrial property, for a very low price per square foot. The property is priced to sell at much lower price PSF compared to competing properties in El Monte/South El Monte industrial submarket. The property has been in the same family ownership since 1990s (±30 years ownership).

The property features a ±20,866 SF building and situated on a ±35,706 SF CORNER lot (M zoned – buyer to verify). This very well-located industrial property is in the City of South El Monte, a block from Garvey Ave, 2 blocks from FWY 19/Rosemead Blvd, and offers excellent access to multiple freeways (FWY 10, FWY 60, and FWY 605). These freeways provide direct access to Downtown Los Angeles, the Port of Los Angeles & Port of Long Beach, City of Industry, and Inland Empire. 

2402 Seaman Ave is a versatile industrial property with logistics, light manufacturing, and flex industrial opportunities. With 2 buildings it features a total of (3) units (2402 Seaman, 2408 Seaman, and 9919 Klingerman). These units are separately metered for electricity, have flexible office/showroom space, plumbed restrooms, kitchenettes, ample parking (29 total spaces), and paved and securely gated lots. 2402 & 2408 Seaman has 1 water meter.

2408 Seaman has ±8,800SF space with a bonus mezzanine (not included in building total – buyer to verify), and it is vacant, offering an opportunity for an owner-user to occupy the space, 3PL, or flex industrial. It has one (1) loading dock (access from alley), and two (2) grade loading doors with access to the street and interior gated lot. The space has small office areas; warehouse portion has ±15ft-17ft clear heights (buyer to verify).

The (2) occupied units are (2402 Seaman and 9919 Klingerman) are leased by long-term tenants, each with lease terms ending in 2024.  9919 Klingerman has ±8,000SF space with good distribution of warehouse space & showroom/office. It has two (2) grade loading doors.

City of South El Monte is part of Lower San Gabriel Valley Industrial submarket with a very low vacancy rate (±2.2% per Costar report). This submarket has a very limited new development for industrial (current construction pipeline is limited, with only one 4,700-SF building underway in El Monte).

These factors combined with centralized location in San Gabriel Valley (with access to 3 freeways) enhanced the desirability of this location.

 

 

 




Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
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