VALUE ADD OPPORTUNITY or BUSINESS OWNER DREAM! Two below-market rent tenants lease expired, next to each other, and one more will expire by end of 2024. Increase to market rent, or combine all 3 units to open your dream business. 1741- 1749 W La Palma Introducing a prime commercial property opportunity: a meticulously maintained strip center spanning 4,500 square feet on a generous 13,032 square foot lot. Comprising five fully leased units, this property stands as a lucrative investment on a bustling high-traffic street, promising exceptional visibility and accessibility. Situated in a prime location, this strip center offers a remarkable value-add potential. With most tenant leases transitioning to a month-to-month basis, there is a unique opportunity to optimize returns by adjusting rental rates. Projected to achieve a potential yield of 5.3%, this property is poised for increased profitability. The strategic positioning of this commercial gem not only ensures immediate returns but also holds promising prospects for long-term appreciation. Boasting a new roof and scheduled parking lot repairs in April, the property is poised for enhanced durability and reduced maintenance costs. The property features 14 parking spaces in the front and an additional 10 at the rear, ensuring ample convenience for both tenants and customers. Whether you are an astute investor seeking a steady income stream or someone keen on capitalizing on the potential appreciation of a prime location, this commercial property offers a well-rounded investment opportunity. Don't miss out on the chance to be part of a thriving community with this turnkey strip center that combines immediate stability with future growth potential.
| Date | Details | Change |
|---|---|---|
| Price Reduced from $1,990,000 to $1,890,000 | $100,000 (5.03%) | |
| Price Reduced from $2,099,000 to $1,990,000 | $109,000 (5.19%) |
Based on information from California Regional Multiple Listing Service, Inc. as of April 28th, 2024 at 12:55pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
