Citi Bank | Chatsworth

Highlights:

• Annual NOI of $183,395
• CAP rate of 4.75%
• Parking Desc 3/1,000
• Traffic Count 25,280

Description:

We are pleased to offer the opportunity to purchase a unique and prominent Citibank branch in the attractive community of Chatsworth, CA.
Citibank (NYSE: C, S&P: A+ Investment Grade) has a long history of operations at the Chatsworth site. the current lease is NNN with zero landlord responsibilities. The building has been very well maintained with Citibank paying all of the maintenance, utilities, taxes and insurance for the site. There are currently two years left on the Lease term, renewable for additional 5 year period. Annual Escalator of CPI differential, capped at 3%. Annual 2019 Lease payment (NOI) is $183,394.92.

Area Description
The location on Devonshire Street is a hub for major commercial activities in the immediate area.

Chatsworth is a neighborhood in the northwestern San Fernando Valley region of Los Angeles, California, United States.

Overall, Chatsworth has one of the lowest densities of any neighborhood in the city, and a relatively high income level.

This region experiences hot and dry summers, with average daily high temperatures of 90–100 °F. According to the Köppen Climate Classification system, Chatsworth has a warm-summer Mediterranean climate, abbreviated "Csb" on climate maps.

The Chatsworth Transportation Center, a major transportation hub for the town and west valley, is served by 20 daily trains on the Metrolink Ventura County Line from Ventura to Union Station in Downtown Los Angeles.