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$2,000,000
Est. payment /mo
8,398 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,398 sqft
Price per Sqft $238
MLS Listing ID CL25553143
HOA Y/N No
Year Built 1968
Lot Size 7,214 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
Situated at the highly visible corner of Sherman Way and Vanalden Avenue, the property allows tenants convenient access to the revitalized Warner Center and Woodland Hills neighborhoods, including several new and proposed development projects. The new Topanga Village and recently opened Topanga Social are a short drive southwest of the building. The entitled Promenade 2035 mixed-use campus, which could span 35 acres and may include a new sports and entertainment complex for the Los Angeles Rams to use as a practice facility, in addition to 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units, could be developed nearby via a $1.5 billion infusion of capital into the local area. The subject property features full copper plumbing, while the new roof was installed in 2021. That same year, all required seismic retrofit repairs were also completed (Buyer to verify), allowing a new owner to benefit from significantly reduced deferred maintenance expenses. A new investor can add substantial value to the asset and also improve cash flow dramatically by recapturing the approximate 49% in rent upside. In addition to this rent upside, there are three units that are currently non-conforming, producing an extra $3,044 in monthly revenue. Yet another in
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2104032001
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
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