Commercial Sale Details
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.
|Price Per SqFt||$404.47|
|Area||641 - Monterey Park|
|Status||Active Under Contract|
|Number Of Units||4|
|Number Of Buildings||1|
|Listing Brokerage||Apex Properties|
|Listing Agent||Chris Comfort|
|Listing Agent BRE #||01407997|
Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, June 5, 2018.
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