Industrial real estate remains one of the strongest categories for investors completing a 1031 exchange — steady tenant demand, freeway-adjacent locations, and multiple income structures make these properties attractive replacement options within the identification window. Below are four current Los Angeles-area opportunities worth a closer look, ranging from stabilized income properties to redevelopment land.
5.7% Cap Rate Industrial Investment — 2350 Central Avenue, Irwindale, CA
This ±24,000 SF industrial building sits on ±102,502 SF of land directly off the 605 and 210 freeway interchange, delivering a 5.7% cap rate across three separate income streams: building rent, RV/outdoor storage, and billboard revenue. With ±3,700 SF of office space and dock-high potential, it offers both immediate cash flow and flexibility for a future owner-user. Co-listed with Ed Matevosian and Jenny Eng of CBRE.
Multi-Tenant Industrial Investment — 332-340 S Avenue 17, Los Angeles, CA
A 34,325 SF building with existing gross income near $600,000, offering a buyer the choice to occupy roughly 20,190 SF while keeping the remaining ±14,135 SF leased, or hold it as a fully leased multi-tenant investment. The site also carries future multifamily development potential, with 38 fenced parking spaces and heavy power already in place.
100% Leased Multi-Tenant Industrial — 351 S Avenue 17 & 338 S Avenue 16, Los Angeles, CA
Situated alongside the property above, this fully leased 41,158 SF multi-tenant industrial asset delivers a 5.26% cap rate on existing income, with three-street frontage and street parking. Future redevelopment potential and partial owner-user occupancy are both possibilities down the line.
Industrial Redevelopment Land — 715 & 1147 S Meridian Ave, Alhambra, CA
For buyers seeking land rather than an existing building, this ±2.51-acre site offers immediate access to the 710 and 10 freeways, with most outdoor storage uses allowed by right. It's a fit for investors looking to redevelop or hold as a logistics/yard operation while satisfying a 1031 timeline.
Frequently Asked Questions
What makes industrial property a strong fit for a 1031 exchange?
Industrial assets typically offer stable, long-term tenant demand and multiple potential income sources — building rent, land use, or redevelopment upside — which can align well with an investor's replacement property goals.
How much time do I have to identify a replacement property?
Under IRS rules, investors generally have 45 days from the sale of their relinquished property to identify replacement options, and 180 days to close. This is general information only — consult your CPA or qualified intermediary for guidance specific to your exchange.
Can I combine multiple properties as replacement property in one exchange?
Yes, in many cases. Structuring an exchange across more than one replacement property is common, though specific requirements apply. Speak with your tax advisor to confirm eligibility for your situation.
Are these properties available for lease as well as sale?
Availability varies by property. Contact Ron Mgrublian directly for current status and offering details on any of the properties above.
Have a 1031 exchange deadline approaching, or an industrial property you're considering as a replacement? Contact Ron Mgrublian for a complimentary consultation on finding the right fit.
Ron Mgrublian
Principal, Lee & Associates Los Angeles – Long Beach
562-354-2537
CalDRE# 01902882
We specialize in industrial real estate from the greater Los Angeles to the Inland Empire markets, including: Long Beach, Carson, Torrance, Gardena, Compton, Rancho Dominguez, Wilmington, Paramount, Santa Fe Springs, Huntington Beach, Garden Grove, Irwindale, Signal Hill, Pomona, City of Industry, and Ontario, serving surrounding submarkets including LA South Bay, LA Central, Mid-Counties, San Gabriel Valley, Orange County and the Inland Empire.
