True Value Add Opportunity For Investors And Owner Users

21615 Devonshire Street, Los Angeles, CA

$2,699,000

Price

7.36%

Pro Forma Cap Rate

12,000 sqft

Building Size

Overview
Pro Forma Cap Rate
7.36%
Building Size
12,000 sqft
Lot Area
32,996 sqft
Occupancy
17%
Year Built
1956
Price Per Sqft
$224.92
Zoning
LAC2
Tenancy
Multiple
Description

Property Type: Retail
Sub Type: Neighborhood Retail Center
Investment Type: Value Add
Lease Type: NNN
Units: 6
Year Built: 1956/1959

A true value-add opportunity for investors and owner-users located at 21615 – 21625 Devonshire Street, Chatsworth in the heart of the San Fernando Valley region of Los Angeles.

The property is strategically located immediately adjacent to a Ralphs grocery anchored shopping center and other major retailers.

The property is positioned just east of the signalized intersection of Devonshire Street and Owensmouth Avenue. Devonshire Street is one of the main retail corridors through the City of Chatsworth with an average daily car count exceeding 22,000.
The property consists of a 12,000 square foot multi-tenant retail building on a 32,996 square foot lot. The property benefits from a dense infill location with 93,350 residents and an average household income of $114,482 within a 3-mile radius.

Highlights
  • Dense Infill Neighborhood Retail Center
  • Value Add or Owner User Opportunity
  • Vacancy and Month to Month Tenancy Creates a Variety of Different Value Add Scenarios
  • Upfront Abundant and Rear Parking 5:1,000 parking ratio with 60 total spaces
  • Strong Retail Corridor over 22,000 Daily Car Count
  • Property Adjacent to Ralphs Anchored Shopping Center and Chatsworth Park Elementary School.
  • Previous Tenant Mix included Food, Liquor Store (M2M) and Night Club

Location
Gallery