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Warehouse

Aetna Industrial Buildings

14641 - 14679 Aetna St, Los Angeles, CA 91411

Listing Price: $3,750,000

Cap Rate
2.94%
Lot Size
0.46 acres
Year Built
1969
Rentable SF
13,188

Investment Overview

Marcus and Millichap is pleased to present the following opportunity for an owner-user or investor to acquire this highly sought after and difficult to find multi-tenant light industrial buildings located in Van Nuys. The subject property is well located along the industrial corridor in the city of Van Nuys. The property line borders the Metro G- Line busway and is centrally located with convenient access to the 101, 134 and 405 freeways. The property consists of four contiguous single-story CMU buildings constructed in 1970. The 19,000+ square foot parcel is situated on the northeast corner of Aetna Street and Cedros Avenue. Each building is on a separate lot which are now associated with one assessor parcel number. There is the possibility of subdividing the lots which could then in turn be sold off individually. Each building consists of five units with various approximate sizes ranging from 511 to 757 Square Feet. Combined building square footage is 13,188. The individual units lend itself to contiguous use for an owner/user or tenant requiring additional space. The buildings are 100% occupied on month-to-month leases with the majority of tenants long term. Many of the existing tenants are involved in the music recording industry with the remaining tenants typical industrial usage. There is significant demand in the immediate area for recording studios and creative office spaces. Recent property improvements include new roofing and exterior painting. The buildings are of concrete masonry construction with chain link fencing. Individual units feature a restroom and garage style 10x12 pivot doors with conventional door access. Individual units are sub metered for electric and paid by tenants. The owner is currently responsible for water/sewer, property tax, building insurance and maintenance. A new investor can negotiate lease extensions with existing tenants, or find replacement tenants. The strong demographics of the area provide a steady customer base and demand by small business owners. There is tremendous upside for an investor to bring rents to market and capitalize on the strong demand and hard to find smaller space. As an owner occupant the property provides the flexibility of occupying all or a portion of the property. A buyer looking to purchase a smaller property with future plans to expand into the space can take advantage of this offering as the multi tenant component allows for rental income prior to the expansion. There is an under supply of small incubator/warehouse space in the area to meet the strong demand. This is a great opportunity for an investor to capitalize on the below market rents or eventually occupy space as an owner/user. The future potential to subdivide into four separate lots will allow an investor added upside to sell off the buildings individually

Investment Highlights

  • 90% SBA Financing Availalbe
  • Month-to-Month Leases
  • 100% Occupied

Exclusively Listed By

Listing Price: $3,750,000

Cap Rate
2.94%
Lot Size
0.46 acres
Year Built
1969
Rentable SF
13,188

Investment Highlights

  • 90% SBA Financing Availalbe
  • Month-to-Month Leases
  • 100% Occupied

Investment Overview

Marcus and Millichap is pleased to present the following opportunity for an owner-user or investor to acquire this highly sought after and difficult to find multi-tenant light industrial buildings located in Van Nuys. The subject property is well located along the industrial corridor in the city of Van Nuys. The property line borders the Metro G- Line busway and is centrally located with convenient access to the 101, 134 and 405 freeways. The property consists of four contiguous single-story CMU buildings constructed in 1970. The 19,000+ square foot parcel is situated on the northeast corner of Aetna Street and Cedros Avenue. Each building is on a separate lot which are now associated with one assessor parcel number. There is the possibility of subdividing the lots which could then in turn be sold off individually. Each building consists of five units with various approximate sizes ranging from 511 to 757 Square Feet. Combined building square footage is 13,188. The individual units lend itself to contiguous use for an owner/user or tenant requiring additional space. The buildings are 100% occupied on month-to-month leases with the majority of tenants long term. Many of the existing tenants are involved in the music recording industry with the remaining tenants typical industrial usage. There is significant demand in the immediate area for recording studios and creative office spaces. Recent property improvements include new roofing and exterior painting. The buildings are of concrete masonry construction with chain link fencing. Individual units feature a restroom and garage style 10x12 pivot doors with conventional door access. Individual units are sub metered for electric and paid by tenants. The owner is currently responsible for water/sewer, property tax, building insurance and maintenance. A new investor can negotiate lease extensions with existing tenants, or find replacement tenants. The strong demographics of the area provide a steady customer base and demand by small business owners. There is tremendous upside for an investor to bring rents to market and capitalize on the strong demand and hard to find smaller space. As an owner occupant the property provides the flexibility of occupying all or a portion of the property. A buyer looking to purchase a smaller property with future plans to expand into the space can take advantage of this offering as the multi tenant component allows for rental income prior to the expansion. There is an under supply of small incubator/warehouse space in the area to meet the strong demand. This is a great opportunity for an investor to capitalize on the below market rents or eventually occupy space as an owner/user. The future potential to subdivide into four separate lots will allow an investor added upside to sell off the buildings individually

Exclusively Listed By

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