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  • DESCRIPTION

    HIGHLIGHTS; Competitive Offering Actual CAP Rate of 4.00%. / ProForma CAP Rate of 6.64% at market rents. Possible SBA Financing May be Available for Well Qualified Buyers. This Spanish colonial office building, located in Altadena, CA, was built in 1927 and will take you back in time. The 8,897 Sq. Ft. property has been completely restored to its original splendor with an emphasis on the craftsmanship and woodwork throughout. From the beautiful coffered ceilings to the woodwork on the walls, to the arched doorways, to the original wood floors, this rare, one of a kind building showcases all the class and refinement of the 20’s architecture without lacking any modern amenities. The property has had extensive updates which include; new commercial grade roof ($17,000), new flooring ($20,000), new windows throughout ($33,000), new window covering ($4,500), updated kitchen / bathroom ($25,000). The interior and exterior of the building were also completely professional painted ($40,000). The updates bring convenience and a modern twist to this timeless design. The space can be laid out in various ways to accommodate the needs of multiple tenants. The current configuration consists of; 1st floor- 4 offices plus two conference rooms, Two Secretary or assistant built in work stations, and a built in front reception desk area, 2nd floor- 10 offices plus (2) secretary of assistant built in work stations, 3rd floor- 8 offices plus a large conference room

    KEY DETAILS
    • Price:
    • $3,100,000
    • Bedrooms:
    • 0
    • Full Baths:
    • 0
    • Square Footage:
    • n/a
    • Acreage:
    • 0.10
    • Year Built:
    • 1927
    • MLS #:
    • IV21056406
    • Street Address:
    • 2472 Lake Ave
    • City:
    • Altadena
    • State:
    • CA
    • Postal Code:
    • 91001
    • County:
    • Los Angeles
    • Area:
    • Altadena
    • Listing Status:
    • For Sale - Active

    Building

    • Total # Of Buildings:
    • 1
    • Year Built:
    • 1927

    Business

    • Annual Electric Expenses:
    • 2500
    • Annual Insurance Expenses:
    • 2917
    • Annual Maintenance Expenses:
    • 2400
    • Annual Trash Expenses:
    • 2500
    • Annual Water/Sewer Expenses:
    • 2500
    • Net Operating Income:
    • 205756
    • Operating Expense:
    • 66046

    Land

    • Approximate Lot Size Range Source:
    • Assessor
    • Lot Features:
    • Corner Lot
    • Lot Size:
    • 4383
    • Lot Square Footage:
    • 4383

    Listing

    • On Market Date:
    • 2021-03-17
    • Originating Mls:
    • Crmls
    • Terms:
    • Submit

    Location

    • Street Type:
    • Avenue

    Systems

    • Existing Water:
    • Public

    Source

    • Listing Provided By Albert Le of Le Investment Group

      CACRMLS
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    SCHOOL RATINGS

    No school information available.

    NOTES

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