38 UNIT DEVELOPMENT OPPORTUNITY BY RIGHT
875 E Los Angeles Avenue is a multi-tenant shopping center located on the main thoroughfare of Simi Valley. The subject property consists of approximately 8,400 SF of building on a 30,409 SF lot. The property boasts a great tenant mix that consists of; Dentist, Hair Salon, Race Prep Hobbies and a Bicycle store. Tenants are all long-term tenants; the longest tenant has been there since 1975 with the newest lease being executed in 2012.
875 E Los Angeles Avenue is a tremendous value add opportunity for a savvy investor. Current tenants are currently paying approximately $1.00 per SF NNN. All tenants are on a month to month basis which will allow a new owner to raise rents immediately by either signing new leases with the current tenants, or finding new tenants. Asking rents in the immediate area range from $1.35 on the low end to $2.75 NNN (or more) on the high end.
Value Add Retail Deal
All Tenants on Month to Month Leases
Long Term Tenants
Huge Lot Size - 30,409 SF
License CA 01515796