Investment Overview

Marcus & Millichap, as Exclusive Advisor, is pleased to present 3171 Los Feliz Boulevard, a 25,980 square foot three story multitenant office building situated on 0.48 acres of land (21,224 SF) in the affluent and trendy Los Angeles submarket of Atwater Village, CA. 3171 Los Feliz Boulevard is currently 62% occupied. The property’s immediate vacancy and existing short-term tenancy provides an owner-user the ability to occupy a variety of space in the building with the opportunity to expand as business operations grow. Alternatively, a value-add investor can elect to reposition the building immediately to raise the below market rents. The building is configured as groups of executive style office suites, averaging 416 square feet however a new owner can elect to com-bine adjacent units to form larger suites to accommodate a variety of office uses. The property is occupied by a mix of general and medical office uses ranging from law-yers, medical doctors, therapists, and home health care and hospice. The property’s in place tenancy pays $45,752.25 per month ($2.86/SF) or $549,027 annually, a rent below market. The subject property benefits from gate secured and covered onsite parking below its two floors of office space. The site is equipped with sixty (60) parking spaces, a parking ratio of 2.31 spaces per 1,000 SF. A buyer can elect to convert the parking to a paid system, adding an additional revenue stream to the existing income. 3171 Los Feliz Boulevard’s high identity is maintained by its large street frontage of approximately 100 feet along Los Feliz Boulevard. It is uniquely positioned as the primary office building serving this area Los Feliz Blvd attracting tenants that desire being in an amenity rich area with a plethora of available dining options and after-work activities with conven-ient access to the 5 Freeway.