3171 Los feliz blvd
ATWATER VILLAGE, CA 90039
PRICE
$7,000,000
BUILDING SIZE
25,980 SF
LOT SIZE
21,224 SF
CAP RATE
PRICE/SF (BLDG)
PRICE/SF
(LAND)
3.51%
$269
$330
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 3171 Los Feliz Boulevard, a 25,980 square foot three story multitenant office building situated on 0.48 acres of land (21,224 SF) in the affluent and trendy Los Angeles submarket of Atwater Village, CA.
3171 Los Feliz Boulevard is currently 62% occupied. The property’s immediate vacancy and existing short-term tenancy provides an owner-user the ability to occupy a variety of space in the building with the opportunity to expand as business operations grow.
The subject property benefits from gate secured and covered onsite parking below its two floors of office space. The site is equipped with sixty (60) parking spaces, a parking ratio of 2.31 spaces per 1,000 SF. A buyer can elect to convert the parking to a paid system, adding an additional revenue stream to the existing income.
The property is occupied by a mix of general and medical office uses ranging from lawyers, medical doctors, therapists, and home health care and hospice. The property’s in place tenancy pays $45,152.25 per month ($2.89/SF) or $541,827 annually, a rent below market.