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$1,860,000
Est. payment /mo
7,018 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,018 sqft
Price per Sqft $265
MLS Listing ID CL25482855
HOA Y/N No
Year Built 1963
Lot Size 9,612 Sqft
Acres 0.22
Property Sub-Type Other
Property Description
Available for only $155,000 per unit, the property allows a new investor to capitalize on approximately 66% rent upside. Energy costs are reduced by the tankless water heaters that have been installed at the building. The current owner has also already completed all seismic retrofit repairs, benefitting a new investor by bringing the property into compliance and saving them from an otherwise costly capital expense. Situated across from Forest Lawn, near the intersection of Fletcher Drive and San Fernando Road, the building allows tenants convenient access to trendy and emerging areas such as Los Feliz, Glendale, Atwater Village, Mount Washington, and Highland Park. The high-end Americana at Brand shopping center and the recently revitalized Glendale Galleria are both within two miles, as are Griffith Park and Occidental College. The multimillion dollar North Atwater East Bank Riverway Project, which would provide a 2.2-mile pathway and connect to the Los Angeles River bike path, is just west of the property.
Location
State CA
County Los Angeles
Zoning LARD
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5459009018
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
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