Rosemead, CA 91770,9016 Mission DR

$2,720,000

$2,800,000

2.9%
Est.Price: ?

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Est. payment /mo

2,023 SqFt


SOLD DATE : 10/11/2016

Key Details

Sold Price $2,720,000

Property Type Commercial

Sub Type Retail

Listing Status Sold

Purchase Type For Sale

Square Footage 2,023 sqft

Price per Sqft $1,344

MLS Listing ID AR16703757

Sold Date 10/11/16

HOA Y/N No

Year Built 1990

Annual Tax Amount $2,015

Tax Year 2015

Property Description

The Retail Center offers investor a stabilized and easy to manage investment with excellent current and historical occupancy, consisting of approximately 5,200 square feet of GLA on a combine two parcel of approximately 21,000 square feet of land. Strategically located at the signalized intersection of Rosemead Blvd. and Mission Drive (which has estimated traffic counts of 40,000 cars per day), the center benefits from multi points of ingress and egress and offers tenants and customer ample parking. This offering provides investors with an in-place cap rate of over 5.32% with upside potential through renewing leases at today's market rent which are markedly higher than 3-4 year ago. The retail center has two long term tenant who are on NNN leases, providing investors a stabilized current income stream with very little management. This Retail Center is adjacent to In-N-Out Burger. The Retail Center will be delivered free and clear of debt, allowing an investor the ability to obtain new financing at historically low interest rates. Listing Price is for combine two parcel located on 4226 Rosemead Blvd. & 9016 Mission Drive. APN. 5391016005 & 5391016002

Location

State CA

County Los Angeles

Area 651 - Rosemead/S. San Gabriel

Zoning R2

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Heating Central

Cooling CentralAir

Fireplace No

Laundry None

Exterior

Fence Block

Utilities Available CableAvailable, CableConnected, ElectricityAvailable, ElectricityConnected, NaturalGasAvailable, NaturalGasConnected, PhoneAvailable, PhoneConnected, SewerAvailable, SewerConnected, WaterAvailable, WaterConnected

Roof Type Clay,SpanishTile

Building

Lot Description Item01UnitAcre

Story 1

Water Public

Others

Tax ID 5391016002

Acceptable Financing Cash, CashtoNewLoan, Conventional, Item1031Exchange

Listing Terms Cash, CashtoNewLoan, Conventional, Item1031Exchange

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Thomas Theung • Coldwell Banker New Century
Bought with Katherine Quach • Treelane Realty Group
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