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725 S Glendale AVE Glendale, CA 91205
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Key Details
Sold Price $4,165,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 9,648 sqft
Price per Sqft $431
MLS Listing ID GD22233047
Sold Date 02/16/23
HOA Y/N No
Year Built 1981
Lot Size 0.345 Acres
Acres 0.3453
Property Sub-Type Retail
Property Description
We are pleased to exclusively present this prime investment multi-tenant retail/office center located at 725 S Glendale Ave in Glendale CA 91205. 100% occupied with NNN leases with rarely any vacancies in last few years. All units are on lease except one unit which are currently on month to month basis. Low rents with upside potential compare to going rates in nearby commercial properties. Originally 13 rentable spaces but currently unit A & B are combined and leased out to a single tenant. The property is located on a main and high traffic Glendale Ave which connects north Glendale to the south side. The subject property is within mostly single family residential and apartment buildings, lots of foot traffic and also minutes away from Americana at the Brand and Glendale Galleria. Built in 1981 on 2 parcels totaling approximately 15,000+ sqft lot, 19 parking spaces reserved for customers only, The new investor can also take over the management operations, reduce its management expenses and increase the net operating income after close of escrow.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Interior
Laundry None
Building
Lot Description Level with Street, Lot 10000-19999 Sqft, Rectangular Lot
Story 2
Water Public
Others
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 1.75
LIST AGRMT Exclusive Right To Sell
SHOW CONTACT TYPE See Remarks
SHOW INSTRUCTIONS PLEASE DO NOT DISTRUB TENANTS. Interior showings/inspection with accepted offer only.
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Bought with eXp Realty of California Inc