Large Multi-Tenant Office Space For Sale
Market Price
15904 Strathern Street, Los Angeles, CA 91406
11,114 sqft
Building Size
12,798 sqft
Lot Area
Details:
Description:
For the first time on the market in nearly 60 years, illi Commercial Real Estate is pleased to present for sale 15904 Strathern Street, a multi-tenant office building in the heart of the Van Nuys Industrial district, the property is situated in a State Enterprise Zone and Conveniently located near the 170 & 5 Freeways and Hollywood Burbank Airport. Built in 1960 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 15922 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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Location
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