Description
The subject property consists of 3 retail units in the front building and 1 automotive unit in the rear building. The 4 total units are occupied by 3 tenants (the trophy tenant occupies 2 units). All tenants have been there longer than 10 years. All leases are NNN. All tenants are established and pay rent in a timely manner. Tenants have separate meters and the property is very easy to manage. Although there has been no vacancy at this location for over a decade, because of the small unit sizes (420 sf for the retail) the units are easy to keep rented. The property is well located on a corner in the desirable neighborhood of Monterey Park, CA. One of the tenants has a 8.5% rental increase coming up later this year. The property could also be a good fit for an owner user because 65% of the building will be on a month to month term by the end of 2018. Parking in the rear of the lot as well.
Presented by:
Chris Comfort
President
424-293-8085 x 101
Email: [email protected]
Address
- Country: United States
- Province / State: California
- City / Town: Monterey Park
- Postal code / ZIP: 91755
- Property ID 3113
- Price $960,000
- Property Type Retail
- Property status Sold
- Size 2460 SqFt
- Land area 6098 SqFt