Description
Built in 1978 this property is an ideal investment, owner/user, or redevelopment opportunity and is located directly off the 405 freeway with easy access from the Avalon Boulevard exit. The subject property consists of a 5,382 SF office building, currently subdivided into 3 units, and is located on a large 20,138 SF lot zoned CACR&D*.This offering presents the investor an opportunity to acquire an asset with an in-place cash-flow of 4.89% with the upside potential to achieve a 6.32% pro forma CAP rate when market rents are achieved. The property is currently 100% occupied with one short term lease expiring 6/30/2021 (1,660 SF), one month-to-month lease (2,350 SF) and one tenant who just exercised their five year option to extend. This presents an owner/user the ability to occupy over 50% of the building immediately. The landlord will have minimal operating expenses as the current tenants pay approximately $0.43 per SF monthly in CAM reimbursement.
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0BEDS
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0.46ACRES
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0BATHS
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01/2 BATHS
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5,382SQFT
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$465$/SQFT
School Ratings & Info
Description
Built in 1978 this property is an ideal investment, owner/user, or redevelopment opportunity and is located directly off the 405 freeway with easy access from the Avalon Boulevard exit. The subject property consists of a 5,382 SF office building, currently subdivided into 3 units, and is located on a large 20,138 SF lot zoned CACR&D*.This offering presents the investor an opportunity to acquire an asset with an in-place cash-flow of 4.89% with the upside potential to achieve a 6.32% pro forma CAP rate when market rents are achieved. The property is currently 100% occupied with one short term lease expiring 6/30/2021 (1,660 SF), one month-to-month lease (2,350 SF) and one tenant who just exercised their five year option to extend. This presents an owner/user the ability to occupy over 50% of the building immediately. The landlord will have minimal operating expenses as the current tenants pay approximately $0.43 per SF monthly in CAM reimbursement.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-10T15:42:46.057. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.