38 UNIT DEVELOPMENT OPPORTUNITY BY RIGHT
This property consists of 6,500 SF of building on a 6,506 SF lot. 8464 State Street is ideally located two blocks from Firestone Boulevard and has great vehicular and walking traffic. Nestled close to Long Beach Boulevard and Firestone Boulevard, 8464 State Street is surrounded by regional and national tenants such as; El Super, Chase Bank, Starbucks, Super A Foods, Jack in the Box, and Family Dollar among others.
This value add play presents a savvy investor the opportunity to capitalize on the upside potential. When market rents are achieved, the investor will have north of a 10% return. There is a vacancy which will allow a new owner to increase rents immediately and add value. Attractive price per square foot of only $130.
CAP / Pro Forma: 5.90% / 8.98%
Attractive Low Cost Per Foot
Huge Upside in Rents/ Value Add
Prime South Gate Retail
Phenomenal Vehicular/Pedestrian Traffic