$2,300,018
$2,000,000
15.0%For more information regarding the value of a property, please contact us for a free consultation.
6,246 Sqft Lot
SOLD DATE : 02/10/2022
Key Details
Sold Price $2,300,018
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 21102687
Sold Date 02/10/22
HOA Y/N No
Year Built 1964
Lot Size 6,246 Sqft
Property Description
The subject property is situated just a few parcels off the corner of Riverside Drive and Laurel Canyon Boulevard. 12125-12127 Riverside Drive is in a traffic-generating location, bordering Studio City, with many national tenants neighboring the property such as Gelson's, Starbucks, UPS, Jack in the Box, Subway, and Citibank just to name a few. The asset itself is a well maintained 4,834 SF multi-tenant mixed-use retail and office building situated on a 6,247 SF lot with approximately eleven (11) parking spaces in the rear. The subject property consists of six (6) office suites and two (2) retail storefronts two of which are owner-occupied and others on leases that expire December 31, 2021. With all leases being on short term, this opportunity is ideal for an owner/user looking to take advantage of SBA financing with as little as 10% down, with historic low interest rates, while owning a retail/office building in one of the most desired submarkets of Valley Village! Additionally, an owner/user can also occupy a majority of the building while using the other units as passive income while running their business on the sought-after street of Riverside Drive. With a high demand for multi-tenant buildings in Valley Village and minimal supply, this opportunity is also ideal for an investor looking to add value once the leases expire by negotiating current leases to fair market value, allowing an investor to make shy of a 7.67% return!
Location
State CA
County Los Angeles
Area Vvl - Valley Village
Zoning LAC2
Interior
Fireplace No
Exterior
Total Parking Spaces 11
Building
Lot Description Near Public Transit
Story 2
Others
Tax ID 2356008013
Special Listing Condition Standard
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Bought with Daniel Hirth • KW Advisors
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "