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.
Listing courtesy of Neema Ahadian from Marcus & Millichap
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