14241 Firestone Blvd, La Mirada, CA 90638

Geoff DeWolf

PRO

CA 01319312

Matt Economos

CA #02243077

Steve Economos

CA 01159994

David Economos

CA#02251034

Listed by Economos Dewolf

$10,740,000

905 days on market

Updated 63 days ago

14241 E Firestone Blvd

Details

APN

7001013129

Property Type

Office

Sub Type

Traditional Office, Executive Office

Square Footage

53,953

Occupancy

72%

Tenancy

Multi

Price per SqFt

$199

Class

Year Built

1982

Stories

Acreage

2.200

Zoning

C-F

Parking Spaces

181 spaces

Parking Per SqFt

3.35

Investment Type

Owner/User

Office | 53,953 SqFt

Marketing description

For Sale

Investment highlights

This building can be purchased by an owner-user, occupying the entire premier top floor along with portions of space on each of the other three floors. A user occupying ±50% of the building can qualify for an SBA loan with only a 10% down payment.
For a user, lock in your cost of occupancy with a 25-year fully-amortized 90% SBA loan, protecting against runaway lease rates. Loan illustration available upon request.
If a buyer were to occupy ±59% of the building, the existing income on the ±41% of the building currently occupied produces ±$55,684 per month (±$668,209 annually). Rent roll is available upon request to qualified buyers.
Potential future site plan shows convenient surface parking totaling 181 stalls. The owner will finish this work prior to close of escrow.
Restaurants and amenities are within the immediate vicinity of this building as can be seen on the amenities map (Page 6), and the building enjoys prominent 5 Freeway signage and exposure.
Priced to sell, at $199/sf this offering is a clear value compared to sale comps described on Page 11.
Replacement cost detailed on Page 12 is estimated at $485/sf, making the asking price of $199/sf a clear value.
Parking: There is a future site plan with 181 parking stalls exclusive to this building for a ratio of ±3.35 stalls per 1,000 square feet. The plan will be completed by the seller prior to close of escrow, so a new buyer can expect all-new landscaping and parking lot.
Existing Loan: There is an approximate $5,475,000 loan in-place with nearly 20- years left that resets every three years. The adjustment will be in March 2026, and the interest rate will be 6.25%. An assumption by a new buyer is possible.
Condition: The HVAC and roof are older, but they have been regularly maintained.
Square Footage An Owner-User Buyer Can Occupy: Top Floor: ±13,877 SF – MTM tenant, currently built out as executive suites. 3rd Floor: ±6,605 SF – MTM tenants - two office suites 2nd Floor: ±5,842 SF – Vacancy and nearing term expirations - four office suites Ground Floor: ±5,766 SF – MTM tenant and vacancy – two office suites An owner-user can occupy a total of ±32,090 SF in the near term (±59% of the office building, which qualifies for an SBA loan)