OWNER-USER OFFICE BUI

2428 Foothill Blvd

La Crescenta, CA 91214

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OFFERING METRICS

LISTING PRICE

$3,500,00

BUILDING SF

±13,080 SF

LAND SF

±18,251 SF

PRICE PER SF

$268

OCCUPANCY

28%

PROPERTY OVERVIEW

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.

 

OPPORTUNITY HIGHLIGHTS

  • Projected cap rate of 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 and 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.

 

LOCATION MAP

 

CONTACTS

CASEY PICARD
Managing Partner

626.376.9224

Casey.Picard@AggregateIP.com

Cal DRE #01921866

KEVIN HURLEY
Director, Keller Williams Realty

626.484.1897

khurley@kwcommercial.com

Cal DRE #01237798