L.A. Care Net Lease Investment

4801 Whittier Boulevard, East Los Angeles, CA

$3,304,224

Price

5%

Cap Rate

8,458 sqft

Building Size

Overview
Cap Rate
5%
Building Size
8,458 sqft
Lot Area
12,395 sqft
Occupancy
100%
Class
A
Lease Type
Single Net
Year Built
1938
Price Per Sqft
$390.66
Zoning
LCM1
Tenancy
Single
Year Last Renovated
2018
Gross Leaseable Area
8458
Construction Status
Existing
Lease Expire Year
8/31/2028
Description

L.A. CARE NET LEASED INVESTMENT - NATION'S LARGEST PUBLICLY OPERATED HEALTH PLAN - NEW 10 YEAR LEASE

Property Type - Retail, Medical Office
Sub Type - Retail
Investment Type - Net Lease
Lease Type - Net
Tenancy - Single
Lease Term - 10 years
Lease Commencement - 09/01/2018
Lease Expiration - 08/31/2028
Rent Bumps - 2% Annually
Lease Options - 2, five year
Ownership - Fee Simple

L.A. Care Website: http://www.lacare.org/2017annualreport/#page-pricing-plans

Investment Highlights

20 YEARS & TWO MILLION MEMBERS STRONG
Established in 1997, L.A. Care Health Plan is an independent public agency created by the state of California to provide health coverage to low-income Los Angeles County residents. L.A Care Health Plan is the nation’s largest publicly operated health plan. Serving more than two (2) million members in five health plans.

MISSION
L.A. Care’s mission is to provide access to quality health care for Los Angeles County’s vulnerable and low-income communities and residents and to support the safety net required to achieve that purpose.

EAST LOS ANGELES - ONE OF THE NATION’S MOST CULTURALLY RICH COMMUNITIES
Generally encompassing the land east of the Los Angeles River, “East Los Angeles” is a populous area which for many years has been anchored by communities such as Boyle Heights and Lincoln Heights. Home to the Gabrielino Indians for more than two thousand years, the area fell into the hands of the Spanish in the late eighteenth century, with Mexican and American ranchers taking control of the land for much of the nineteenth century. Farmers eventually used portions to grow vegetables and fruit and raise dairy cattle, but agriculture took up only temporary residence, ultimately pushed aside as urban society rapidly expanded.

At the beginning of the twentieth century, East Los Angeles became a popular immigrant destination. In the early 1900s, Russians, Jews, Japanese, and Mexicans all had a significant presence in the area. Living east of the river and working in nearby factories, or traveling by electric rail into downtown Los Angeles, immigrants and their children helped fuel the prosperity of the growing metropolis. By the onset of World War II, East Los Angeles was a nearly exclusively Latino community, soon reinforced by Mexican workers who arrived to man the machines in the area’s burgeoning war industries. Although the face of the city of Los Angeles and its surrounding communities has changed considerably, East Los Angeles has maintained this basic character throughout the last sixty years. As a result of its history as a long-standing Mexican American community, the area of East Los Angeles continues to be studied and documented by scholars from around the world.

Highlights
  • Nation's Largest Publicly Operated Health Plan
  • Twenty (20) Years and Two Million Members Strong
  • New Ten (10) Year Corporate Guaranteed Lease
  • Fully Renovated Building in 2018
  • Net Lease with Minimal Landlord Responsibilities
  • New roof with 10 Year Warranty
  • One of Six L.A. Care's Family Resource Centers
  • Ranked #1 Insurer in L.A. County by the Los Angeles Business Journal 2016 & 2017
  • 2017 Gross Operating Revenues over $8.7B
  • 2.1M L.A. CARE MEMBERS (2,129,601 Total Members )
  • 22.5K NETWORK PROVIDERS (23,309 Total Providers)
  • 1.8K L.A. CARE EMPLOYEES (1,883 Total Employees)

Location
Gallery