Jonathan Rego - Commercial Real Estate Showcase

Jonathan Rego Property Listings
Marcus & Millichap Inc
515 S Flower St
Suite 500
Los Angeles, CA 90071-2201
(213) 943-1870
(213) 688-7757

1975 - 1989 Riverside Drive

Los Angeles, CA 90039-3704 - Greater Downtown Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:1973
Stories:1 Typical Floor:12,521 SF Building Size:12,521 SF
For Sale Price:$4,350,000 Price/SF:$347.42
Cap Rate:-
Parking:12 Surface spaces are available; 15 Covered spaces are available; Ratio of 2.84/1,000 SF
12,521 SF is available to occupy upon purchase.

2/04: Isaias & Linda Saldana purchased the property from Owen Living Trust. Stevenson Real Estate represented the seller and Re/Max of Glendale represented the buyer. Please reference Comps # LNC-28288-03-0420 for more information.

Situated on 0.53 acres, 1975-1989 Riverside Drive is located in Los
Angeles, California. The property is located adjacent to the 2, 3, and 110
freeways, which is great for visibility purposes. There are two (2) office
buildings on the property, both leased by the same tenant. Built in 1973,
the 8,800-square-foot office buildings are in good condition and have been
maintained extremely well. The two (2) garden style office buildings are
perfect for investors because it is a low maintenance property. The property features underground parking, as well as a kitchenette.

Sale Notes:
Asking Price: $4,600,000

Marcus & Millichap is pleased to present the opportunity to acquire an office asset located in Los Angeles, California. This offering is located at 1975-1989 Riverside Drive and consists of two single-story office structures built on one parcel. The total building area is approximately 12,560 square feet, sitting on a parcel of land measuring approximately 22,594 square feet. The property is currently zoned LAC1.

The asset features two separate structures both built in 1973. The front building (1975 Riverside Drive) measures approximately 5,588 square feet and features an outdoor gated parking lot that has 18 spaces. It is currently rented to Soundbite Studios on a month-to-month basis and is grossing $4,000 per month. The back building (1989 Riverside Drive) measures approximately 6,972 square feet and features a subterranean parking lot with 18 spaces. It is home to Los Angeles City of Sleep and Meridian Health Products; however, this building will be delivered vacant at the close of escrow.

Marcus & Millichap Inc
Jonathan Rego
(213) 943-1870

Michael Malick

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