$2,720,000
$2,800,000
2.9%For more information regarding the value of a property, please contact us for a free consultation.
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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Bought with Katherine Quach • Treelane Realty Group
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "