1480 Colorado Blvd - Medical FOR SALE


Los Angeles, CA 90041- Eagle Rock
$4,950,000 USD
818-319-2900
1480 Colorado Blvd, Los Angeles, CA for Sale
$4,950,000 USD
Medical - FOR SALE
1/11
null | Request Cap Rate

NEW


1480 Colorado Blvd
Los Angeles, CA 90041
Eagle Rock


HIGHLIGHTS

  • Occupy 7,400 SF
  • $269K In Place Income
  • 23 On Site Spaces
  • Prime Eagle Rock Location
  • Pasadena Glendale Adjacent
  • Immediate 134 Access

OVERVIEW

Encore Realty Group is pleased to present 1480 Colorado Boulevard, a 14,090 square foot multi-tenant office and medical building on a 15,364 square foot lot in the heart of Eagle Rock's Colorado Boulevard corridor. The property sits on one of Northeast Los Angeles's strongest commercial thoroughfares, minutes from Pasadena, Glendale, and the 134 Freeway, in a submarket anchored by medical, professional, and creative users. The offering is built for an owner-user. Roughly half of the building's suites are occupied on month to month holdover, giving a buyer the ability to occupy approximately 7,400 square feet at the close of escrow, in excess of the 51% owner occupancy required for SBA 504 financing, while the remaining suites stay leased and generate offsetting income. With SBA 504 financing, a qualified owner-user can control the building with as little as 10% down. The in-place rent roll bills approximately $269,000 per year at a blended rate of $1.59 per square foot per month, well below prevailing rates for office and medical space on this corridor, leaving meaningful mark-to-market upside for an investor as leases roll. The property also carries long-term optionality: LAC4 is among the City of Los Angeles's highest-intensity commercial zones, permitting significant mixed-use density on the 15,364 square foot parcel. With on-site parking for approximately 23 vehicles, established medical and health-services tenancy, and pricing at $351 per square foot, 1480 Colorado Boulevard offers a rare combination of immediate occupancy, current income, and long-term land value on a premier Northeast LA corridor.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$351 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

C4-2D

APN/PARCEL ID

5690-004-023

ASK ABOUT THIS PROPERTY

Andy KozanianEncore Realty LAMore Info
818-319-2900

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Andy KozanianEncore Realty LAMore Info
818-319-2900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.