Sherman Oaks (los Angeles), CA 91423,13242 Riverside Drive
Listed by Raymond Rodriguez • Equity Union
Bought with Michael Pesci • Keller Williams Studio City

$775,000

Est. payment /mo

$800,000

3.1%
Est.Price: ?

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13242 Riverside Drive Sherman Oaks (los Angeles), CA 91423

1,225 SqFt

SOLD DATE : 10/09/2024

Key Details

Sold Price $775,000

Property Type Commercial

Sub Type Retail

Listing Status Sold

Purchase Type For Sale

Square Footage 1,225 sqft

Price per Sqft $632

MLS Listing ID CRSR24140169

Sold Date 10/09/24

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1949

Lot Size 3,000 Sqft

Property Description

We are proud to present, a value-add, single-tenant retail opportunity located at 13424 & 13242 ½ Riverside Drive in the highly desirable City of Sherman Oaks, California. Potential for interest-only Seller financing. The property consists of 2 individually metered spaces, currently leased on a month-to-month basis to one tenant, offering an owner-user the ability to occupy part of the space, while leasing out the other, off-setting the mortgage, or for an astute investor looking to reposition the property and bring the rents up to market. The space is currently occupied by Nail Fetish, a long-term tenant that is operating at a rental rate of $1.98 p/sf, far below the market average of ±$3.36 p/sf. The property encompasses roughly ±1,225 square feet and is situated on a ±3,000 square foot lot, offering a zoning of LAC1.5. Per city records, the building was constructed in 1949 of wood frame with a flat roof and stucco exterior, and recently ownership installed a new 200-amp commercial main panel, as well as one sub-panel, and new Siemens meters. Sherman Oaks is a vibrant neighborhood located in the San Fernando Valley region of Los Angeles, California. Known for its tree-lined streets, upscale residential areas, and bustling commercial districts, Sherman Oaks offers a blend of

Location

State CA

County Los Angeles

Interior

Fireplace No

Building

Water Public

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Alessandra Imanabadi

Broker/ Realtor | License ID: 01390368 NMLS Lic.# 328245

+1(510) 504-2528

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