Investment Overview

Marcus & Millichap, as Exclusive Advisor, is pleased to present 19709 Ventura Boulevard, a 5,818 square foot mixed-use retail and office property situated on 0.15 acres of land (6,603 SF) in the affluent West San Fernando Valley submarket of Woodland Hills, CA 19709 Ventura Boulevard is currently 41.12% occupied by a mix of ground floor retail tenants and second floor office tenants. The ground floor is made up of four (4) retail units and one additional unit in a separate structure in the rear totaling 3,091 square feet (an average 618 square foot per unit). On average, the ground floor tenants are paying $3.08/SF per month (or $5,122.00 monthly) on gross leases. The ground floor tenants are on short-term leases, with an average remaining lease term of 0.24 years, with the longest lease expiring on 4/30/2025. The second floor is made up of five (5) office units, of which only one unit is occupied on a month-to-month basis. The office units average 438 square feet per unit. The building brings in a total of $6,533.00 monthly, or $3.01/SF, gross. Because of its short-term tenancy and strategic location, this mixed-use asset is a promising value-add investment or owner-user opportunity. A value-add investor will have the ability to reposition a majority of the units immediately, and an owner-user has the flexibility to occupy the entire building, or just the first or second floor. The subject property benefits from excellent visibility and frontage, ideally located one parcel west of the NW signalized corner of Corbin Ave & Ventura Blvd, with approximately 50 feet of linear frontage along Ventura Boulevard. The property is served by 8 surface parking spaces, a parking ratio of 1.38 spaces per 1,000 SF, accessible via an alley in the rear.