Description

Welcome to your next best investment. This is a very special opportunity to acquire a well-maintained industrial asset in North Hollywood!  

 

Dana Coronado of KW Commercial is pleased to present for sale an exciting opportunity to acquire a nine (9) unit multi-tenant industrial property in North Hollywood.  This is a stable investment asset with one tenant that just exercised their 3-year lease option occupying approximately 80% of the total SF.  Built in 1978, the property features nine (9) units spanning 20,165 SF sitting on a sizable 50,181 SF lot.  Additionally, there is significant rental upside (approximately 34%) and one unit (approximately 1,920 SF) will be delivered vacant at the close of escrow.  There are eighty-three (83) gated, open parking spaces located on both sides of the property.  This is a prime investment opportunity that is already operating at a 4.74% existing Cap Rate, with room to grow to a 7.16% Cap Rate at market rents.  The subject property is located in an industrial area of North Hollywood (north of Sherman Way and east of Woodman Ave).

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Location

Prime North Hollywood industrial location.  The subject property sits less than two miles from the CA-170 freeway which connects to the US-101, I-5, and 134, 118 and 405 Freeways.  In turn, from the subject property, it is an easy commute to all of the San Fernando Valley, Burbank, Santa Clarita Valley, and Los Angeles.  More specifically, this location provides seamless access to many of the San Fernando Valley's main thoroughfares including Woodman Ave, Saticoy St, Coldwater Canyon Ave, Laurel Canyon Blvd, Roscoe Blvd, Van Nuys Blvd, Sherman Way, and Victory Blvd.