Marcus & Millichap is pleased to present the opportunity to acquire the property located at 651 Arroyo Street in San Fernando, California. The subject property consists of approximately 23,660 square feet of warehouse space and is situated on 0.79 acres of M2-zoned land. The multi-tenant asset features a clear height of 22’, five grade-level doors, three-phase power with 1200 amps, and a fully paved and gated concrete yard. At close of escrow, the front unit (14,540 SF) will be delivered with a brand-new three-year leaseback, while the rear unit (9,120 SF) is fully leased through 2027. This offering presents an attractive opportunity for investors seeking immediate, stabilized income with minimal management responsibilities. The property is located in the North Valley region of the East San Fernando Valley, a tightly held submarket with over 55 million square feet of industrial space. Due to limited land availability and modest development activity, the submarket’s inventory has remained relatively unchanged, with just 265,000 square feet delivered in the past 12 months and only 440,000 square feet under construction as of Q2 2025. As a result, leasing activity is competitive, particularly among smaller occupiers seeking sub-25,000 square foot spaces. Although vacancy has risen from sub-1% levels in 2021 to 4.7% in Q2 2025—largely due to a handful of large move-outs and demolitions—rents remain elevated. Asking rents average approximately $19.60/SF, nearly 10% higher than the broader Los Angeles market, with smaller suites commanding as much as $30/SF. With median lease-up times below three months and development constrained by zoning and infill barriers, demand is expected to continue driving rental growth and maintaining low availability for the foreseeable future (CoStar).