Each office independently owned and operated

Medical Office Condo - Offering Memorandum3244 Sepulveda Boulevard | Torrance, CA 90505

STEPHEN LAMPEExecutive Vice President(310) 802-2501slampe@remaxcir.comBRE #01164364

Fully improved medical office space in 7 contiguous commercial office ➢

Excellent Investment or Owner/User Property➢

Subject property has 4 dedicated parking spaces in perpetuity ➢

Broad commercial zoning and existing common area parking ratioallows for medical, dental or professional office uses

➢

Excellent location walking distance to Del Amo Mall and within 2 milesof Providence Little Company of Mary and Torrance Memorial Hospitals

➢

RE/MAX COMMERCIAL & INVESTMENT REALTY450 Silver Spur RoadRancho Palos Verdes, CA 90275(310) 802-2500www.remaxcir.com

PROPERTY DESCRIPTION3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

Offering SummaryThe  subject  property  is  a  medical  office  condo  in  the  Madrona  Medical  Professional  Center.  Theproperty was redeveloped and built out with new tenant improvements in 2007. There are a total of 6exam  rooms  and  a  very  large  open  common  area  room  within  the  suite  that  is  used  for  physicaltherapy.  There  are  also  two  entrances  (one  on  either  end  of  the  unit),  2  administrative  offices  anemployee break area and a lobby. 

This  single  story  medical  office  condo  is  located  in  the  clock  tower  building  and  has  4  dedicatedparking  spaces  that  are  included  in  the  purchase  price.  The  total  land  area  in  the  complex  isapproximately 96,000 square feet. Broad commercial zoning and existing common area parking ratioallows for medical, dental or professional office uses.

The owner of  the property has maintained a successful physical  therapy business at  this  location  formany years. The property will be delivered vacant for an owner­user. 

The location is ideal due to its close proximity to both Provident Little Company of Mary Hospital andTorrance Memorial as well as walking distance to the restaurants and stores in Del Amo Mall. 

The subject property consists of 7 condos combined condos 135, 136, 137, 138, 139, 140, 147.

FINANCIAL SUMMARY3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

Tenant Monthly Scheduled Income

  Tenant Proforma

  Proforma Rent ­ $3.55/SF ModifiedGross

$16,000

  Totals $16,000

Annualized Income

  Description Proforma

  Gross Potential Rent $192,000

   ­ Less: Vacancy ($7,680)

  Effective Gross Income $184,320

   ­ Less: Expenses ($46,389)

  Net Operating Income $137,931

Annualized Expenses

  Description Proforma

  Property Tax (New 1.12%) $24,460

  Building Insurance $2,000

  Condo Association Fees $17,529

  Reserves for Repairs $2,400

  Total Expenses $46,389

  Expenses Per RSF $10.29

Investment Summary

$2,200,000

2007

1

4,510

$487.80

97,342 sf

1

Various

Price

Year Built

Tenants

RSF

Price/RSF

Lot Size*

Floors

APN

Proforma Cap Rate 6.27% NOTES: The tax assessor shows a total of 3,940 square feet of office space. The architectural plans for build out of the usable area indicates 3,854 net rentable square. Seller purchased the property from developer showing 4,510 gross square feet. Buyer to verify building area during due diligence period, Seller and Broker make no representations or warranties as to the actual square footage.

* The subject property is a condominium and the lot size is in reference to the entire office condo project.

PROPERTY PHOTOS3244 Sepulveda Boulevard | Torrance, CA 90505

PROPERTY PHOTOS3244 Sepulveda Boulevard | Torrance, CA 90505

PROPERTY PHOTOS3244 Sepulveda Boulevard | Torrance, CA 90505

SALE COMPARABLES3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

SALE COMPARABLES3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

S

Medical Office Condo ­ Offering Memorandum3244 Sepulveda Boulevard, Torrance, CA

Sale Price $2,200,000

Spaces 1

Rentable SqFt 4,510

Price/SqFt $487.80

Lot Size 97,342

Cap Rate 6.27%

Year Built 2007

1

25550 Hawthorne Boulevard, Unit 212, Torrance, CA

Sale Price $759,000

Spaces 1

Rentable SqFt 1,623

Price/SqFt $467.65

Year Built 1981

Sale Date 3/31/2020

Days­On­Mkt 188

2

25550 Hawthorne Boulevard, Unit 209, Torrance, CA

Sale Price $650,000

Rentable SqFt 1,497

Price/SqFt $434.20

Year Built 1981

Sale Date 3/31/2020

Days­On­Mkt 454

SALE COMPARABLES3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

3

4305 Torrance Boulevard, Unit 508, Torrance, CA

Sale Price $309,000

Rentable SqFt 648

Price/SqFt $476.85

Year Built 1960

Sale Date 2/24/2020

Days­On­Mkt 83

NotesInferior location

4

17519­17521 Crenshaw Boulevard, Torrance, CA

Sale Price $825,000

Rentable SqFt 1,800

Price/SqFt $458.33

Year Built 1960

Sale Date 1/2/2020

Days­On­Mkt 479

NotesInferior location

5

25550 Hawthorne Boulevard, Unit 211, Torrance, CA

Sale Price $650,000

Spaces 1

Rentable SqFt 1,268

Price/SqFt $512.62

Year Built 1981

Sale Date 5/3/2019

Days­On­Mkt 270

SALE COMPARABLES3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

6

3220 Sepulveda Boulevard, Unit 201, Torrance, CA

Sale Price $1,012,500

Spaces 1

Rentable SqFt 2,025

Price/SqFt $500.00

Year Built 1966

Sale Date 4/18/2019

SALE COMPARABLES3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

S 3244 Sepulveda BoulevardTorrance, CA, 90505$2,200,000

1 25550 Hawthorne Boulevard, Unit 212Torrance, CA, 90505$759,000

2 25550 Hawthorne Boulevard, Unit 209Torrance, CA, 90505$650,000

3 4305 Torrance Boulevard, Unit 508Torrance, CA, 90503$309,000

4 17519­17521 Crenshaw BoulevardTorrance, CA, 90504$825,000

5 25550 Hawthorne Boulevard, Unit 211Torrance, CA, 90505$650,000

6 3220 Sepulveda Boulevard, Unit 201Torrance, CA, 90505$1,012,500

AERIAL MAP3244 Sepulveda Boulevard | Torrance, CA 90505

LOCATION MAP3244 Sepulveda Boulevard | Torrance, CA 90505

REGIONAL MAP3244 Sepulveda Boulevard | Torrance, CA 90505

DETAILED DEMOGRAPHICS3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

Population 1 Mile 3 Miles 5 Miles

Male 10,362 102,092 252,207

Female 11,149 105,222 255,638

Total Population 21,511 207,314 507,845

Housing 1 Mile 3 Miles 5 Miles

Total Units 9,577 85,647 197,927

Occupied 9,171 81,831 189,107

Owner Occupied 5,638 44,361 108,345

Renter Occupied 3,533 37,470 80,762

Vacant 406 3,816 8,820

Race 1 Mile 3 Miles 5 Miles

White 9,174 115,452 265,684

Black 275 4,764 17,681

Am In/AK Nat 4 178 415

Hawaiian 3 370 1,739

Hispanic 2,023 48,076 157,451

Multi­Racial 2,776 60,014 193,588

DETAILED DEMOGRAPHICS3244 Sepulveda Boulevard | Torrance, CA 90505

The accuracy of all  information, regardless of source,  including but not  limited to square footagesand  lot  sizes,  is  deemed  reliable  but  not  guaranteed  and  should  be  personally  verified  throughpersonal inspection by and/or with the appropriate professionals.

Age 1 Mile 3 Miles 5 Miles

Ages 0­4 846 9,600 24,754

Ages 5­9 1,176 12,575 31,911

Ages 10­14 1,228 12,347 31,058

Ages 15­19 1,267 12,480 31,173

Ages 20­24 1,243 12,618 31,550

Ages 25­29 1,103 12,231 30,646

Ages 30­34 1,027 11,974 30,243

Ages 35­39 1,127 12,652 31,944

Ages 40­44 1,387 14,301 35,472

Ages 45­49 1,688 15,972 38,571

Ages 50­54 1,826 16,532 38,939

Ages 55­59 1,755 15,665 36,464

Ages 60­64 1,515 13,487 31,568

Ages 65­69 1,224 10,789 25,517

Ages 70­74 969 8,181 19,578

Ages 74­79 729 5,865 14,296

Ages 80­84 517 3,983 9,708

Ages 85+ 884 6,062 14,453

Income 1 Mile 3 Miles 5 Miles

Median $69,476 $78,111 $76,174

< $10,000 270 3,020 6,945

$10,000­$14,999 545 3,045 6,886

$15,000­$19,999 227 2,816 6,770

$20,000­$24,999 414 3,247 7,741

$25,000­$29,999 232 2,537 6,361

$30,000­$34,999 383 3,293 6,866

$35,000­$39,999 304 2,535 6,393

$40,000­$44,999 319 2,666 5,997

$45,000­$49,999 389 2,900 6,720

$50,000­$60,000 630 6,247 13,188

$60,000­$74,000 866 8,362 19,381

$75,000­$99,999 1,207 11,047 25,549

$10,0000­$124,999 1,046 8,878 19,632

$125,000­$149,999 562 5,827 12,965

$150,000­$199,999 757 6,670 15,452

> $200,000 567 6,259 17,085