Borrower, real estate investor and long-time business owner was seeking a 1st TD to purchase this industrial condo corner unit in the City of Downey in Los Angeles County.
The subject building is configured to house a single user and offers 3,992 SF interior space (1,600 SF of office space) which includes entry/lobby, 3 offices, kitchen, 2 bathrooms and a warehouse area with 18’ clear height, and, a metal roll up door. The warehouse was recently upgraded with new lighting and also features sky lights. Subject property sits within a planned industrial development (PID). Parking consists of 7 reserved on-site paved and marked spaces at the front of the property. The site is basically rectangular in shape and fully level at street grade. Subject is conveniently located close to the 5, 605, 105 & 91 freeways. Borrower has a “tenant in tow” that will be paying $1.50/SF NNN or $5,988 monthly. Details of the lease to be finalized after close of escrow.
Recent Transaction – $607,750 Business Purpose, Downey, CA 90241
