Multi-Tenant Industrial For Sale
Market Price
15922 Strathern Street & 15909-15923 Blythe Street, Van Nuys, CA 91406
22,764 sqft
Building Size
42,253 sqft
Lot Area
Details:
Description:
For the first time on the market in 60 years, illi Commercial Real Estate is pleased to present for sale 15922 Strathern Street, a multi-tenant industrial property in the heart of the Van Nuys Industrial district and a Qualified Opportunity Zone, between the 405 Freeway and Van Nuys Airport. Built in 1959 by San Fernando Valley based developer, Harry Marks, with continuous family ownership, the property benefits from long-term tenancy and historically high occupancy. With most tenants previously on month-to-month leases, management has recently executed new, market rate leases with many long-term tenants, and new tenants alike. Each new lease includes landlord termination rights, affording buyers the flexibility to maintain stable cash flow through current tenancy or to explore alternate plans for the property over time. Also available are the two adjacent properties located at 15904 Strathern Street and 7933 Gloria Avenue. The combined land measures roughly 1.75 Acres, offering the possibility of a large-scale redevelopment of the parcels
Documents:
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Investment Flyer
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Location
Gallery
