Description:

Located on Foothill Boulevard in La Crescenta, CA, this two-story office building is ideally suited for an owner-user looking for an aesthetically pleasing investment on a main thoroughfare near many of LA County’s best offerings. Built in 1982, the building offers a gross area of ±13,081 square feet on a ±18,231 square foot lot. In addition, the property offers modest parking with 21 surface spaces or a ratio of 1.61 per 1,000 SF.
The first floor of the building, currently utilized by ownership, is slated to be delivered vacant upon the Close of Escrow leaving a new buyer to either divide for lease and/or occupy the vacant ±7,225 square foot space.
The second floor is currently leased by multiple tenants that are on a month-to-month lease with significant upside in rental potential.
Furthermore, the second-floor terrace offers flexibility in offering tenancy an opportunity to improve the open space to offer the building with top-of-market amenities including outdoor dining, gardens, and other activities to service the tenant base.
Projected cap rate at 5.46%
Great multi-tenant office building with availability for investment and/or owner-user operator
Currently ±28% occupied with all tenants on month-to-month leases upon the close of the Escrow
Two story wood frame construction with second story terrace that is ideal for lunch area / restful common area
Four electric & gas meters along with one water meter
Opportunity for competitive financing utilizing an SBA loan
Rare opportunity in a highly sought out sub-market of Los Angeles County
21 parking spaces equating to a parking ratio of 1.61 / 1,000
Located on main thoroughfare with easy access to Starbucks, Ralphs, Big Lots, Ross Dress for Less, Joann Fabrics, 210 Freeway, and CA Highway 2

Presented by:

Adriana  West

Managing Director

(678) 534-2718

(678) 907-7034

Click here to email

Listed by:

Keller Williams Realty

Pasadena