31225 La Baya Drive
Westlake Village, CA 91362

Price: | $7,975,000 | Zoning: | WVM1 |
Bldg SF: | 46,724 SF | Price/SF: | $171 |
Land SF: | 70,305 SF | Occupancy: | 48% |
Year Built: | 1977 | Property Type: | Office |
Click to View Offering MemorandumClick to Print Offering Memorandum
Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Address: 31225 La Baya Drive, Westlake Village, CA 91362
Price: $7,975,000
Bldg SF: 46,724 SF
Land SF: 70,305 SF
Price/SF: $171
Property Type: 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 Westlake Village, CA Location
- Ideally located in the upscale, affluent Conejo Valley sub-market of Westlake Village, CA
- Close proximity to the Interstate 101 Ventura Freeway
- Amenity rich sub-market within close proximity to world-class hotels, restaurants, retailers, hospitals, and banks
- Average household income north of $150,000 with a median income of $134,411
Ideal Value-Add or Owner-User Opportunity
- The building has undergone significant improvements and renovations creating a unique value-add opportunity with minimal capital requirements
- 48% current occupancy
- Current rents are below market rents
- Current occupancy in conjunction with lease flexibility create an ideal Owner-User opportunity
- Priced significantly below replacement costs
North Business Park Specific Plan set to Be Completed will Create Significant Growth in the Immediate Area
- Centrally located within the proposed boundaries of the North Business Park Specific Plan
- North Business Park Plan creates incentive for property owners to re-develop by providing economic incentives
- Potential change of use and increase in FAR will create significant growth potential
- Development concepts have been approved by the city and the environmental review is largely completed
Strong Immediate Demographics Creates a Business-Friendly Environment
- Approximately 850 commercial and light industrial business firms are located in the immediate area
- Westlake Village is a well-managed city home to several large companies
- Average household income over $151,000 within one-mile
- Plethora of multi-million dollar homes in the immediate area with median home values north of $800,000