2221 – 2225 W. Olive Street, located on the corner of W. Olive Avenue and Lincoln Street, is PRICED TO SELL at $2,999,000 with a current 5.42% cap rate and only $401 per SF. The subject property consists of two (2) adjacent parcels and is a well maintained ±7,478 SF multi-tenant mixed use building situated on a ±10,100 SF lot. 2221 – 2225 W. Olive Avenue is 100% occupied consisting of ten (10) office suites and five (5) retail storefronts, all on NNN leases and two (2) apartments. All tenants are on M2M or short-term leases well below market. The property is strategically located within close proximity to the 134 Ventura Freeway, which provides easy access throughout the entire San Fernando Valley. With a high demand of multi-tenant buildings in Burbank and very minimal supply, this opportunity is ideal for an investor looking to add value by repositioning the tenants and/or by increasing the rents to fair market value, allowing an investor to conservatively yield a 7.36% return.
This property is nestled in the heart of the highly desired submarket of Burbank. Known as being the “Media Capital of the World” Burbank is home to many well-established media and entertainment companies such as The Walt Disney Company, Warner Brothers Entertainment/Music Group, Cartoon Network, Nickelodeon, Warner Music Group, NBC Universal, ABC, Arri Cameras, Cinelease, Entertainment Partners, JL Fisher and Matthews Studio equipment just to name a few. Surrounded by the 134 and 5 freeway makes Burbank very accessible to neighboring cities such as Glendale, Toluca Lake, North Hollywood and Hollywood.
Price: $2,999,000
