6315 Van Nuys Boulevard is strategically located on Van Nuys Boulevard, the most coveted street in the city of Van Nuys, providing easy access to and around neighboring cities. This part of Van Nuys, a block away from City Hall, is surrounded by a quickly changing neighborhood that is prime for redevelopment and new businesses.
The asset itself is a well maintained ±9,500 SF multi-tenant mixed-use retail and office building situated on a ±7,754 SF lot with approximately twelve (12) parking spaces in the rear. The subject property consists of twelve (12) office suites and three (3) retail storefronts – two of which are currently vacant and others on M2M leases. With approximately ±1,837 SF of vacant retail space an investor can immediately add value by renting the units. Furthermore, an investor can push additional value due to all the tenants being on M2M or on short-term leases well below fair market value and are current on their rents. With a high demand for multi-tenant buildings in Van Nuys and minimal supply, this opportunity is ideal for an investor looking to add value by negotiating current leases and filling up vacancies to fair market value, allowing an investor to make just shy of a 7% return!
Additionally, an owner user can also occupy 51% of the building while using the other units as passive income while running their business on high traffic street of Van Nuys Boulevard. With SBA financing, an owner user can take advantage of owning the real estate with only 10% down, with an estimated cost of $1.63 per SF. Due to the phenomenal location of the property this opportunity is beneficial for all types of businesses.
Van Nuys is in the central San Fernando Valley region of Los Angeles and is strategically located near pockets of economic and development activity. It is home to the Van Nuys Airport and the Valley Municipal Building and is the only neighborhood in the San Fernando Valley with a population exceeding 100,000 residents. Downtown Van Nuys is growing daily with many jobs opening back up and plenty of Rapid Transit options, including a very-likely-to-happen Metro Light Rail Project down the center of Van Nuys Boulevard. that is meant to run from the Orange Bus Line to the south and to the City of San Fernando to the north and with a possible connection to the Sepulveda Pass Transit Corridor.