Skip to main content

Single-Tenant Office

12429 S Avalon Blvd

12429 S Avalon Blvd, Los Angeles, CA 90061

Listing Price: $6,200,000

Cap Rate
5.51%
Gross SF
16,600
Rentable SF
16,600
Price/Gross SF
$373.49
Lot Size
0.81 acres
Year Built
2001

Investment Overview

Marcus & Millichap has been selected to exclusively represent 12429 Avalon Boulevard, a single-tenant, 16,600 square foot office facility leased to the Los Angeles Social Security Administration Branch Office. The Social Security Administration Branch offers AAA credit, and is guaranteed by the U.S. Government. 12429 Avalon Boulevard is centrally located in the heart of Los Angeles, CA, directly across from Magic Johnson Park, a 104-acre recreation area ideal for outdoor activities featuring beautiful fishing lakes, open green space and a popular walking path. The subject property is located on the northwest signalized corner of E. 126th Street and S. Avalon Boulevard, just south of East 120th Street and just north of West El Segundo Boulevard, with direct freeway access to Interstate 105 and 110 Freeways. The subject property has 42 surface parking spaces, a parking ratio of 2.53 per 1,000 square feet. The site benefits from strong daily traffic counts totaling more than 21,000 vehicles per day. 12429 S. Avalon was built- to-suit for the Social Security Administration in 2001 and leased to the US Federal Government via the General Services Administration. GSA has executed a lease renewal for a new 10-year term commencing in March 2017, which expires on 2/28/2027 with no additional options. The lease is guaranteed by the United States of America, which has a credit rating of AAA from Moody’s Investor Services. Social Security Administration has almost 64,000 employees and 1,500 offices. The United States Social Security Administration (SSA) is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant’s benefits are based on the wage earner’s contributions. Otherwise benefits such as Supplemental Security Income (SSI) are given based on need. Formed in 1935, SSA has an annual operating budget of approximately $1.06 trillion. The immediate sub-market benefits from dense immediate population, with over 29,000 people within one mile of the subject property, over 333,000 people within three miles, and over 954,000 people within five miles. The sub-market has an average household income of over $71,000 within one mile of the subject property. There are over 7,500 households within one mile and over 85,000 households within three miles.

Investment Highlights

  • AAA CREDIT TENANT BACKED BY THE U.S. GOVERNMENT
  • SINGLE TENANT ASSET LEASED TO THE SOCIAL SECURITY ADMINISTRATION
  • CENTRALIZED LOS ANGELES LOCATION

Exclusively Listed By

Single-Tenant Office

12429 S Avalon Blvd

Listing Price: $6,200,000

Cap Rate
5.51%
Gross SF
16,600
Rentable SF
16,600
Price/Gross SF
$373.49
Lot Size
0.81 acres
Year Built
2001

Investment Highlights

  • AAA CREDIT TENANT BACKED BY THE U.S. GOVERNMENT
  • SINGLE TENANT ASSET LEASED TO THE SOCIAL SECURITY ADMINISTRATION
  • CENTRALIZED LOS ANGELES LOCATION

Investment Overview

Marcus & Millichap has been selected to exclusively represent 12429 Avalon Boulevard, a single-tenant, 16,600 square foot office facility leased to the Los Angeles Social Security Administration Branch Office. The Social Security Administration Branch offers AAA credit, and is guaranteed by the U.S. Government. 12429 Avalon Boulevard is centrally located in the heart of Los Angeles, CA, directly across from Magic Johnson Park, a 104-acre recreation area ideal for outdoor activities featuring beautiful fishing lakes, open green space and a popular walking path. The subject property is located on the northwest signalized corner of E. 126th Street and S. Avalon Boulevard, just south of East 120th Street and just north of West El Segundo Boulevard, with direct freeway access to Interstate 105 and 110 Freeways. The subject property has 42 surface parking spaces, a parking ratio of 2.53 per 1,000 square feet. The site benefits from strong daily traffic counts totaling more than 21,000 vehicles per day. 12429 S. Avalon was built- to-suit for the Social Security Administration in 2001 and leased to the US Federal Government via the General Services Administration. GSA has executed a lease renewal for a new 10-year term commencing in March 2017, which expires on 2/28/2027 with no additional options. The lease is guaranteed by the United States of America, which has a credit rating of AAA from Moody’s Investor Services. Social Security Administration has almost 64,000 employees and 1,500 offices. The United States Social Security Administration (SSA) is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant’s benefits are based on the wage earner’s contributions. Otherwise benefits such as Supplemental Security Income (SSI) are given based on need. Formed in 1935, SSA has an annual operating budget of approximately $1.06 trillion. The immediate sub-market benefits from dense immediate population, with over 29,000 people within one mile of the subject property, over 333,000 people within three miles, and over 954,000 people within five miles. The sub-market has an average household income of over $71,000 within one mile of the subject property. There are over 7,500 households within one mile and over 85,000 households within three miles.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower