14645 Ventura Boulevard

Description

THIS IS A PORTFOLIO SALE OF 5 APN's on Ventura Blvd and on Moorpark Street directly behind. (2265-005-018; 2265-005-017; 2265-005-016; 2265-005-003; 2265-005-002). PLEASE SEE AND DOWNLOAD Operating Memorandum Included In a nutshell, the commercial properties on Ventura Blvd. consists of approximately 11,300 square feet of retail space sitting on a 19,117 sq foot lot with a market rental value of $3.50 per square foot ($39,550 per month).The two residential units comprising 1,312 sq feet above that retail space at 14643 and 14641 are 1 bed 1 bath units getting $1,030 per month in rent each with market rental rates of $1,600 per month each. That offers the recipient $42,750 per month of gross rent, or $513,000 per year (NNN). The 4-Unit apartment on Moorpark have closed comps averaging $554 per sq. foot for 4-units in Sherman oaks over the last year. 14620 Moorpark is 2,640 square feet. Selling at $600 per sq. foot gives a $1,580,000 value.The two adjacent vacant lots can be developed or demo and combine all 3 parcels on the 19,140 square feet and build 30-40 units. Buyer to verify with city unit volume. Generational Property in Iconic location in Sherman Oaks, On Prime central location on Ventura Boulevard. *For sale offered at $12,000,000 *The subject properties have been in a family trust for 3 decades. *The master lease and ALL leases expire on 12/31/2022. * The master leaseholder will irrevocably retain all rental income through lease expiration. * The first time on the market in 3 decades. * The average current retail comparable value for these assets closed at $866 per square foot. * 3 Prime contiguous lots on Moorpark Street, Zoned Multifamily for Development