Listed by Commercial Asset Group, Inc.
$6,500,000
8115-8117 W. 3rd st
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 9,376
Units 3
Cap Rate 7.00%
NOI $455,289
Occupancy 90%
Tenancy Multi
Lease Type Modified
Lot Size (SqFt) 5,499
Retail | 7.00% CAP | 9,376 SqFt
Marketing description
Stand Alone Building on W. 3rd Street for Sale
Investment highlights
- Unbelievable West 3rd location surrounded by some of LA’s best tenants in a densely populated area where single family homes start at $1.5 Million and luxury apartments start at $2,500 per month
- Building is roughly 90% occupied by Youth Academy of Dramatic Arts (Yada), a tenant that has been in the property for almost 25 years, starting with one space and expanding over the years (see page 6 for more tenant info)
- An LA Institution, Yada recently extended their lease for another 5 years and their likelihood of extending thereafter is extremely high based on their specific Tenant improvements as well as the grandfathered use of the property
- One small vacancy in the building exists, but once leased, property will perform at an approximate 7 CAP with a mixture of 3% and 4% annual increases
- Within walking distance to The World Famous Grove Shopping Center
- Gross Income: 481,289.40
- 1st Floor Video Tour: https://vimeo.com/1028887671
- 2nd Floor Video Tour:https://vimeo.com/1028888135
Listing Contacts
Listed by Commercial Asset Group, Inc.
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$455,289.40
$37,940.78/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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