$5,000,000
$5,500,000
9.1%For more information regarding the value of a property, please contact us for a free consultation.
1.42 Acres Lot
SOLD DATE : 02/03/2020
Key Details
Sold Price $5,000,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR19226621
Sold Date 02/03/20
HOA Y/N No
Year Built 1981
Lot Size 1.420 Acres
Property Description
This fully leased investment property has many value-add opportunities. An investor could instantly realize a higher return by converting current month-to-month tenants to longer term leases. Also converting certain modified gross leases to traditional retail triple net leases will allow for additional opportunity for higher returns. In the longer term, there is tremendous upside to bring the tenants to market rates.
On a longer-term basis, this property is also a potential development site. By right, with an FAR of 1:1, a mixed use building of up to 55 units can be built and developed on this site.
Location
State CA
County Los Angeles
Area 619 - El Monte
Interior
Heating Forced Air
Fireplace No
Laundry None
Building
Lot Description 36-40 Units/Acre, Corner Lot, Lot Over 40000 Sqft
Story 1
Water Public
Others
Tax ID 8570028022
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with MICHAEL CHAN • COLDWELL BANKER GEORGE REALTY
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
880 Roosevelt Suite 250, Irvine, California, 92620, United States