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17835 Ventura Boulevard
Encino, CA 91316

Price: $13,675,000 Zoning: C4-1VL and RA-1
Bldg SF: 48,590 SF Price/SF: $281
Land SF: 53,590 SF Occupancy: 81%
Year Built:  1972 Property Type: Medical/Office
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Price: $13,675,000
Bldg SF: 48,590 SF
Land SF: 53,590 SF
Year Built: 1972
Price/SF: $281
Occupancy: 81%
Property Type: Medical/Office
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Investment Highlights

EXCELLENT ENCINO, CA LOCATION

 

  •  Ideally located just west of White Oak Avenue along prestigious Ventura Boulevard

  •  130 feet of linear frontage along Ventura Boulevard

  •  Amenity rich submarket with multiple restaurants, retailers, office, and hotels in the immediate area

  •  Close proximity to the 101 Ventura Freeway

  •  Centralized San Fernando Valley location with easy access to Downtown Los Angeles, the Westside of Los Angeles, Warner Center, and all major airports

 

HIGH-END OFFICE BUILDING UNDERGOING A MEDICAL CONVERSION


  • 48,590 square foot office building of which 40,000 square feet (82%) will be designated for medical use

  • 53,008 square feet of land

  • Memorable brick façade with excellent window lines

  • Upgraded lobby and corridors

  • Significant improvements and upgrades create a positive business environment

  • Excellent Ingress and egress

  • Secured parking with easy access

 

VALUE-ADD OPPORTUNITY WITH A MULTITUDE OF OPTIONS


  • Current office rents average $2.28 per square foot

  • Medical rents in the immediate area average $3.44 per square foot

  • 93% of the existing leases expire by 2022

  • 81% current occupancy and flexibility in lease expiration creates a unique opportunity for a value-add investor or an owner-user buyer

 

AFFLUENT AND DENSE LOS ANGELES COUNTY SUB-MARKET

 

  •  Average household income over $103,000

  •  Dense immediate population with over 468,000 people within a five mile radius

  •  Over 163,000 households within five miles, 10% with household incomes north of $200,000

  •  Over 26,000 businesses and 212,000 employees within a five-mile radius, further encapsulating the strength of the location