1635 Pontius Ave - Medical FOR SALE


Los Angeles, CA 90025- Westwood
$4,695,000 USD
310-658-3375
1635 Pontius Ave, Los Angeles, CA for Sale
$4,695,000 USD
Medical - FOR SALE
1/24
null | Request Cap Rate

1635 Pontius Ave
Los Angeles, CA 90025
Westwood


HIGHLIGHTS

  • Medical Conversation Opportunity - AB 2097 Location Qualifies for Parking Exemption For Medical/Dental Users
  • Irreplaceable Trophy Location - Adjacent to 405 Fwy On-ramp & Starbucks/Santa Monica Blvd
  • 4 Car Garage + 6 Surface Spaces + Available Neighboring Parkings Options
  • Month-to-Month & End of Year Tenants - $1M Interior Renovations Law Firm 2nd Floor Tenant Improvements
  • Single or Multi-Tenant Use - Flexible Layout Conducive to Variety of Users
  • Law Firm & Architectural Firm - MTM {Over $1M in Tenant Improvements 2nd Floor Law Firm}

OVERVIEW

Kidder Mathews has been exclusive retained to market the sale of this office building with an irreplaceable Westside location. The property is next to the corner of Santa Monica Blvd, adjacent to the 405 Freeway on-ramp. The first floor is currently a well-known Architectural firm, who has been a seasoned tenant in the ground-floor space and just had their long-term tenancy rolled over into a month-to-month situation. They are currently paying $4.21psf modified gross and would remain as a tenant, if new owner did not intend to occupy the first floor. Architectural Firm has a modern open space layout with a couple perimeter offices and conference room, plus exposed 10-foot ceilings. The second floor which is greater than 51% of the rentable square footage, is currently occupied by a Law Firm, with a 5-year lease expiring at the end of this year, with no options to renew. This space has approximately $1M of tenant improvements with high-end modern finishes, ideal for a corporate headquarter location. The property features up to 10 parking spaces and there are several options for additional parking spaces, across the street has massive parking structure and competitive monthly rates. There is also a 10-foot alley between Tesla and Starbucks building, which gives generous access to the side ground-level door (18W’ X 10’5”H) garage which accommodates up to 4 cars and has a permitted wine cellar. AB2097 recently passed at the State Level allows the location of this property with its proximity to transit to convert into a medical and dental uses. An Owner-User could occupy either floor or the entire premises, several Conventional Lenders now offering interest rates in the high 5% range, with less than the traditional 51% SBA occupancy requirements and as low as 15% to 20% down payment to acquire this West LA gem.

FOR SALE DETAILS

PRICE

$4,695,000 USD

PRICE/SF

$860 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Law Firm Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,598 SF

ZONING

LAM1

APN/PARCEL ID

4324-035-008

ASK ABOUT THIS PROPERTY

Jay MartinezKidder MathewsMore Info
310-658-3375

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Jay MartinezKidder MathewsMore Info
310-658-3375

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