323 E Beach Ave
Inglewood, CA 90302
Property To Rent

THE PROPERTY: This 4,201 square feet industrial building in Inglewood, California, is available for sale or lease. Built in 1953 and renovated in 2023, the property sits on a 5,271 square feet lot, offering ample space for a traditional office, industrial space, creative loft, or indoor storage. The building features recently updated skylights that provide natural light, a roll-up door, and an on-site kitchen. The interior and exterior have received a fresh coat of paint, and the building is equipped with phase 3 power providing 300-400 amps and 110 volts. This single-tenant, one-story property is constructed with wood framing and is zoned M1. It presents an excellent opportunity for an owner/user to establish a new creative office, with easy access to major highways and the Los Angeles International Airport. THE MARKET: The Central Los Angeles Submarket is one of the largest industrial submarkets in the L.A. metro, encompassing Downtown Los Angeles and adjacent industrial districts. Vacancies are historically low at an attractive 6.3%. The total industrial inventory has declined during the past two decades due to the frenzy of apartment and office development in recent years centered around Downtown Los Angeles. Market rent growth is by 9.3% and is currently averaging at $21-28/sf with cap rates down to an average of 3.7%. Exceptional opportunity for future appreciation and value. Average industrial pricing in the Central Los Angeles Submarket, $430/SF, is above the metro average of $360/SF. THE LOCATION: Inglewood is a burgeoning city in southwestern Los Angeles County, California, with a population of approximately over 100,000 people. The property is located in the heart of Inglewood, just a few blocks away from the Hollywood Park Casino and the future home of the Los Angeles Rams, Chargers & Galaxies SoFi stadium. The area is rapidly developing and is home to a variety of businesses and retail establishments, making it a vibrant and dynamic location. It is also located just a short drive from the Los Angeles International Airport (LAX) and has easy access to major highways such as the I-405 and I-105, making it a convenient location for businesses that require transportation and logistics support.