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Office

5315 Laurel Canyon Blvd

5315 Laurel Canyon Blvd, Los Angeles, CA 91607

Listing Price: $4,250,000

Cap Rate
2.53%
Gross SF
10,050
Rentable SF
10,050
Price/Gross SF
$422.89
Lot Size
0.30 acres
Year Built
1961

Investment Overview

A 10,050 square foot two-story low-rise office building situated on 13,137 square feet of land located one block south of the signalized corner of Laurel Canyon Blvd and Chandler Blvd. The property is located one block north of the corner of Magnolia Blvd and Laurel Canyon Blvd. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 52. 5315 Laurel Canyon will be delivered with two vacant suites. The occupied spaces are long-time tenants operating under short term leases. Lease expiration dates are staggered in the upcoming years, with one of the longest leases coming due in 2023, providing for tremendous upside. With an average rent per square foot of $2.00, this asset provides an investor huge value-add potential when looking at the current average rent in this asset, creating potential for rental upside at lease roll-over. With short-term tenants, many of them being month-to-month, this is an ideal opportunity for an owner use to occupy a portion or all of the building. The subject property is centrally located in the high-end densely populated east San Fernando Valley sub-market of North Hollywood, just blocks south of the new NoHo West Development. The centralized location allows easy access to interstates 101, 170, and 405 and is ideally located less than a mile from the CBS Studio Center, one of the largest employers in the Valley. The site is in close proximity to Westfield Fashion Square, the Studio City Strip, and NoHo West containing over 200k new square feet of retail space. Laurel Canyon is also within close proximity to the job hubs of Glendale & Burbank.

Investment Highlights

  • A 10,050 square foot two-story low-rise office building situated on 13,137 square feet of land
  • Lease expiration dates are staggered in the upcoming years, with the longest leases coming due in 2023, providing for huge upside with two units delivered vacant and four tenants on month-to-months
  • With an average rent per square foot of $2.00, this asset provides an investor huge value-add potential when looking at the current average rent in this asset
  • Based on the [Q]C2-1VL zoning and density increase benefits the development potential for Laurel Canyon is multi-family and mixed use with increased density based on the Tier 3 TOC benefits
  • Build up to 32 units by-right and 57 units utilizing the Tier 3 TOC benefits, there are no residential replacement units

Exclusively Listed By

Listing Price: $4,250,000

Cap Rate
2.53%
Gross SF
10,050
Rentable SF
10,050
Price/Gross SF
$422.89
Lot Size
0.30 acres
Year Built
1961

Investment Highlights

  • A 10,050 square foot two-story low-rise office building situated on 13,137 square feet of land
  • Lease expiration dates are staggered in the upcoming years, with the longest leases coming due in 2023, providing for huge upside with two units delivered vacant and four tenants on month-to-months
  • With an average rent per square foot of $2.00, this asset provides an investor huge value-add potential when looking at the current average rent in this asset
  • Based on the [Q]C2-1VL zoning and density increase benefits the development potential for Laurel Canyon is multi-family and mixed use with increased density based on the Tier 3 TOC benefits
  • Build up to 32 units by-right and 57 units utilizing the Tier 3 TOC benefits, there are no residential replacement units

Investment Overview

A 10,050 square foot two-story low-rise office building situated on 13,137 square feet of land located one block south of the signalized corner of Laurel Canyon Blvd and Chandler Blvd. The property is located one block north of the corner of Magnolia Blvd and Laurel Canyon Blvd. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 52. 5315 Laurel Canyon will be delivered with two vacant suites. The occupied spaces are long-time tenants operating under short term leases. Lease expiration dates are staggered in the upcoming years, with one of the longest leases coming due in 2023, providing for tremendous upside. With an average rent per square foot of $2.00, this asset provides an investor huge value-add potential when looking at the current average rent in this asset, creating potential for rental upside at lease roll-over. With short-term tenants, many of them being month-to-month, this is an ideal opportunity for an owner use to occupy a portion or all of the building. The subject property is centrally located in the high-end densely populated east San Fernando Valley sub-market of North Hollywood, just blocks south of the new NoHo West Development. The centralized location allows easy access to interstates 101, 170, and 405 and is ideally located less than a mile from the CBS Studio Center, one of the largest employers in the Valley. The site is in close proximity to Westfield Fashion Square, the Studio City Strip, and NoHo West containing over 200k new square feet of retail space. Laurel Canyon is also within close proximity to the job hubs of Glendale & Burbank.

Exclusively Listed By

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