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Office Medical

9535 Reseda Blvd

9535 Reseda Blvd, Los Angeles, CA 91324

Listing Price: $14,000,000

Cap Rate
5.59%
Gross SF
39,849
Rentable SF
39,849
Price/Gross SF
$351.33
Occupancy
92.4%
Year Built
1966
Lot Size
1.69 acres

Investment Overview

Marcus & Millichap has been selected to exclusively to present for sale Northridge Medical & Professional Plaza, a three-story 39,849 square foot medical office building located in the prestigious Los Angeles suburb of Northridge, California. Located at 9535 Reseda Boulevard, one of the San Fernando Valley’s primary north-south arterials, the property is situated on a 73,616 square foot corner parcel of land. The property has maintained a historical occupancy north of 90% over the past decade and is currently 92.44% occupied. The average in-place monthly rent is $2.71/SF, representing an approximate 10% discount to market. Offered at $14,000,000, this investment opportunity provides investors with a year-1 proforma net operating income of $782,865 equating to 5.59% cap rate with future upside. . The property is occupied by a mix of medical and dental tenants, as well as general professional tenants; many of whom have been located here for over a decade. A major benefit of long-term tenancies is the reduced vacancy and turnover, leasing costs, and new tenant improvement expenses. Built in 1966 and substantially renovated in 2000 and again in 2011, the property is exceptionally maintained and provides mature landscaping. There is ample surface parking for 162 vehicles (4:1,000 parking ratio) and easy pedestrian access to the building through one of the three entrances. Along with the regular rental income there are 19 storage units situated on the roof of the building that could bring in additional income. A few of the second and third floor suites have private balconies. The property is located within a qualified Opportunity Zone; see page 8 for additional information. The property’s location is further enhanced by its immediate proximity to a multitude of quick service and casual sit-down restaurants, apartment communities, retail services, and the beautiful campus of California State University Northridge with has an enrollment of more than 35,000 students. Along with CSUN and the immediate service amenities in the area, 9535 Reseda Blvd is just two miles north of the Northridge Hospital and Medical Center managed by Dignity Health. This hospital is ranked Nationally as one of America’s Top 50 Hospitals and has been consecutively for the last 7 years. This well-maintained medical & professional office asset presents experienced investors with a quality acquisition opportunity in a prestigious suburb of Los Angeles, California.

Investment Highlights

  • Synergetic Mix of Dental and Medical Tenants
  • Located in a Qualified Opportunity Zone
  • 90% Historical Occupancy Over the Past Decade
  • Signalized Intersection with Traffic Counts of more than 45,000 VPD
  • Located Two Miles North of Dignity Health Northridge Hospital Medical Center
  • Ample Parking for Tenants and Visitors | 4/1,000 SF

Exclusively Listed By

Financing By

Office Medical

9535 Reseda Blvd

Listing Price: $14,000,000

Cap Rate
5.59%
Gross SF
39,849
Rentable SF
39,849
Price/Gross SF
$351.33
Occupancy
92.4%
Year Built
1966
Lot Size
1.69 acres

Investment Highlights

  • Synergetic Mix of Dental and Medical Tenants
  • Located in a Qualified Opportunity Zone
  • 90% Historical Occupancy Over the Past Decade
  • Signalized Intersection with Traffic Counts of more than 45,000 VPD
  • Located Two Miles North of Dignity Health Northridge Hospital Medical Center
  • Ample Parking for Tenants and Visitors | 4/1,000 SF

Investment Overview

Marcus & Millichap has been selected to exclusively to present for sale Northridge Medical & Professional Plaza, a three-story 39,849 square foot medical office building located in the prestigious Los Angeles suburb of Northridge, California. Located at 9535 Reseda Boulevard, one of the San Fernando Valley’s primary north-south arterials, the property is situated on a 73,616 square foot corner parcel of land. The property has maintained a historical occupancy north of 90% over the past decade and is currently 92.44% occupied. The average in-place monthly rent is $2.71/SF, representing an approximate 10% discount to market. Offered at $14,000,000, this investment opportunity provides investors with a year-1 proforma net operating income of $782,865 equating to 5.59% cap rate with future upside. . The property is occupied by a mix of medical and dental tenants, as well as general professional tenants; many of whom have been located here for over a decade. A major benefit of long-term tenancies is the reduced vacancy and turnover, leasing costs, and new tenant improvement expenses. Built in 1966 and substantially renovated in 2000 and again in 2011, the property is exceptionally maintained and provides mature landscaping. There is ample surface parking for 162 vehicles (4:1,000 parking ratio) and easy pedestrian access to the building through one of the three entrances. Along with the regular rental income there are 19 storage units situated on the roof of the building that could bring in additional income. A few of the second and third floor suites have private balconies. The property is located within a qualified Opportunity Zone; see page 8 for additional information. The property’s location is further enhanced by its immediate proximity to a multitude of quick service and casual sit-down restaurants, apartment communities, retail services, and the beautiful campus of California State University Northridge with has an enrollment of more than 35,000 students. Along with CSUN and the immediate service amenities in the area, 9535 Reseda Blvd is just two miles north of the Northridge Hospital and Medical Center managed by Dignity Health. This hospital is ranked Nationally as one of America’s Top 50 Hospitals and has been consecutively for the last 7 years. This well-maintained medical & professional office asset presents experienced investors with a quality acquisition opportunity in a prestigious suburb of Los Angeles, California.

Exclusively Listed By

Financing By

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