This two-story office building is located in the Park Center Submarket of Orange County and is currently 100% leased to the Consulate of The United Mexican States, one of the busiest locations for the Mexican Consulate. Built in 1975, the Property is situated on 1 parcel totaling ±1.27 acres and is located directly between the 5 and 55 Freeways, within an area that many multifamily developers have identified for their next development grounds.
This is the opportunity to purchase a single tenant building with a very stable government tenant. Rental rates are below market, but purchasing this property provides an opportunity to (a) bring the tenant to market rates upon expiration for a 46.62% 2yr IRR or 15.48% 10yr IRR, (b) identify a new tenant willing to pay market rents, or (c) explore the redevelopment opportunities for multifamily or senior housing in this area