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17835 Ventura Boulevard
Encino, CA 91316

Price: $14,500,000 Zoning: C4-1VL and RA-1
Bldg SF: 48,590 SF Price/SF: $298
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: 17835 Ventura Boulevard
Bldg SF: 48,590SF
Land SF: 53,590 SF
Year Built: 1972
Current Cap Rate: 5.19%
Price/SF: $298
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 MEDICAL OFFICE BUILDING

 

  • 48,590 square foot medical office building of which 40,000 square feet (82%) is 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 $2.26 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 an investor or 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