$1,700,000

This is a rare opportunity to acquire a fully occupied Medical-Dental building in San Pedro in the Medical District adjacent to Providence Little Company of Mary Hospital serving the San Pedro and Rancho Palos Verdes residents. The property is on 1411 West 7th Street, just a block east of Western Avenue which bisects San Pedro and Rancho Palos Verdes. The subject property lot is 5,394 square feet and is zoned C2, which permits a wide variety of commercial uses including medical or dental. There is signage on the property, and good visibility as the building fronts 7th Street. The building was constructed in 1962 and consists of grade level office space over a semi-subterranean parking structure that can accommodate up to 13 vehicles. The gross building area is 5,243 square feet per the county assessor, and the leasable area is divided into 4 suites on 4 separate leases. The owner has upgraded the interior for the family dental/orthodontic practice suites that have been in use for many years and has always diligently maintained the property. There is a Dental suite and an Orthodontics Suite, each leased to different practitioners. There are two non-medical business uses in the property (hair salon, and esthetician). These tenants have short terms remaining on their leases and all of the rents are significantly below market, providing huge upside in rental income in the future. This property is an ideal turn-key building for an investor; or an owner-user who does not require immediate occupancy.