Shopping Strip

859 E Los Angeles

859 E Los Angeles Ave, Simi Valley, CA 93065

Listing Price: $2,050,000

Cap Rate
7.62%
Gross SF
8,445
Rentable SF
8,445
Price/Gross SF
$242.75
Lot Size
0.70 acres
Year Built
1962

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the East Los Angeles & 3rd Center, an 8,445 square foot strip center situated on 30,492 square feet of land located at 859-895 East Los Angeles Street in Simi Valley, CA. Built in 1961, the East Los Angeles & 3rd Center benefits from excellent frontage and visibility along East Los Angeles Avenue, strategically located between Third Street and Fourth Street within one of Simi Valley's most active corridors. The immediate area is filled with restaurants and a strong mix of local and national retailers, making this one of the most desirable areas in Ventura County. The subject property is currently 33% occupied at below market rents, creating an opportunity for an investor to stabilize a well-located strip center or allowing an owner-user Buyer to occupy a portion of the property for their own business use. The current tenants, Hound and Eagle, LLC and My Playful Puppy, have leases ending in November 2024, and December 2021 respectively. The immediate sub-market is surrounded by single family homes and multiple schools, including Royal High School, Grace Brethren High School, Sinaloa Middle School, Hollow Hills Elementary, Hillside Middle School, Park View Elementary School, and Berylwood Elementary. The copious amount of commercial property in this vicinity is supported by the dense surrounding population of over 125,000 people within a five-mile radius coupled with an average household income north of $100,000 within one mile of the subject property.

Investment Highlights

  • • Excellent visibility and frontage (194 feet) along a main east-west thoroughfare through Simi Valley • Medical use currently at the property • Daily traffic counts exceeding 30,000 vehicles per year
  • • Average household income north of $100,000 with a one-mile radius of the subject property • Median income north of $85,000 within one mile of the subject property
  • • 33% current occupancy • Short term leases allow for a unique value-add or owner-user opportunity • Current rents are below market • 48 parking spaces in the rear of the property

Exclusively Listed By

Listing Price: $2,050,000

Cap Rate
7.62%
Gross SF
8,445
Rentable SF
8,445
Price/Gross SF
$242.75
Lot Size
0.70 acres
Year Built
1962

Investment Highlights

  • • Excellent visibility and frontage (194 feet) along a main east-west thoroughfare through Simi Valley • Medical use currently at the property • Daily traffic counts exceeding 30,000 vehicles per year
  • • Average household income north of $100,000 with a one-mile radius of the subject property • Median income north of $85,000 within one mile of the subject property
  • • 33% current occupancy • Short term leases allow for a unique value-add or owner-user opportunity • Current rents are below market • 48 parking spaces in the rear of the property

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the East Los Angeles & 3rd Center, an 8,445 square foot strip center situated on 30,492 square feet of land located at 859-895 East Los Angeles Street in Simi Valley, CA. Built in 1961, the East Los Angeles & 3rd Center benefits from excellent frontage and visibility along East Los Angeles Avenue, strategically located between Third Street and Fourth Street within one of Simi Valley's most active corridors. The immediate area is filled with restaurants and a strong mix of local and national retailers, making this one of the most desirable areas in Ventura County. The subject property is currently 33% occupied at below market rents, creating an opportunity for an investor to stabilize a well-located strip center or allowing an owner-user Buyer to occupy a portion of the property for their own business use. The current tenants, Hound and Eagle, LLC and My Playful Puppy, have leases ending in November 2024, and December 2021 respectively. The immediate sub-market is surrounded by single family homes and multiple schools, including Royal High School, Grace Brethren High School, Sinaloa Middle School, Hollow Hills Elementary, Hillside Middle School, Park View Elementary School, and Berylwood Elementary. The copious amount of commercial property in this vicinity is supported by the dense surrounding population of over 125,000 people within a five-mile radius coupled with an average household income north of $100,000 within one mile of the subject property.

Exclusively Listed By

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