$3,800,000
$4,695,000
19.1%For more information regarding the value of a property, please contact us for a free consultation.
15,619 SqFt
SOLD DATE : 02/23/2022
Key Details
Sold Price $3,800,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 15,619 sqft
Price per Sqft $243
MLS Listing ID DW21105232
Sold Date 02/23/22
HOA Y/N No
Year Built 1998
Lot Size 0.583 Acres
Acres 0.5829
Property Description
Great for Owner User or Investor! 2 unit retail property located in Reseda, CA - in the heart of the San Fernando Valley. The property consists of a regional discount dollar store which occupies 12,619 sq. ft. The second tenant is a coin laundry mat which occupies 3,000 sq. ft. The dollar store's lease expires in November 2021. The dollar store is rented far below market at only $1.03 GROSS per sq. ft. The coin laundry lease expires in 2028 + options. With the dollar store lease expiring soon, this investment provides a unique opportunity for an owner user or savvy investor looking to add value by increasing the rent on that unit. In addition to the 20 onsite parking stalls within the property itself, there is also a public parking lot directly behind which is utilized by the subject property's customer base. The public parking lot has over 60 parking stalls. The property also has one ground level loading door. Additional Income from Billboard as well. Please see supplement for additional information and rent roll.
Location
State CA
County Los Angeles
Area Res - Reseda
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Building
Lot Description Rectangular Lot
Water Public
Others
Tax ID 2125001024
Financing Conventional
Special Listing Condition Standard
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Bought with Khosrow Armand • Foresight Rlty & Inv.
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CEO | DRE# SA695240000 | DRE# 02100184