Property Overview
Price/Rent PSF $ 4,200,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 13,106
Date Available 12/20/2018
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Floors 2
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Notably known as the “Balcony of Southern California”, La Crescenta is a residential community offering night-time rest, seclusion and quiet for families who make their living in the roar of one of America’s greatest cities. Geographically, the Crescenta Valley extends eastward from the Los Angeles City communities of Sunland and Tujunga through a portion of the City of Glendale and the County territories of La Crescenta and Montrose to the incorporated city of La Cañada Flintridge. The median income housing within a 1-mile radius is nearly $88,000 and the average home price extends north of $750,000.

Rare Offering of a Multi-Tenant Office Building in La Crescenta. La Crescenta is a quiet and affluent neighborhood nestled in the foothills of Los Angeles County; residents in La Crescenta take pride in their Blue-Ribbon school district and small town feel. This is an supply constrained market with extremely high barriers of entry.

Currently 100% Occupied. The asset is fully leased with a seasoned and diversified mix of seven tenants. The occupancy ranges in space from 842 square feet to 4,648 square feet units, with the largest unit being occupied by a regional healthcare provider.
Opportunity for Partial Owner User of 1,300 SF. One of the units is occupied by the ownership and while the ownership would like to continue to rent space at fair market rents, plans can be arranged to make that unit available to a Buyer who would prefer to occupy after the close of escrow.

Well Maintained & Modern Interiors. Chic modern upgrades and high end finishes adorn the interior space including the lobby, which is artfully simplistic and clean. The parking lot and most major operational functions of the asset are well maintained appear well attended.

Convenient 210 Off-Ramp Location. The asset is located less than 100 feet from the Pennsylvania Street off-ramp from the 210 West freeway. Pennsylvania Avenue is a well trafficked off-ramp as it drops commuters into the middle of La Crecenta and provides easy access to either Montrose or Foothill Boulevard.