For Sale
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711-717 Mills AveClaremont, CA 91711

High-Occupancy Self Storage Facility in CA

Overview

Added:
Dec 11, 2024
Days on market:
115
This fully stabilized self-storage facility, located at 711-717 S Mills Ave, Claremont, CA 91711, presents a compelling investment opportunity. Built in 1987, the property boasts 63,170 net rentable square feet across 669 units within three buildings situated on two parcels. Currently operating at a 95.4% occupancy rate, the facility generates a substantial net operating income (NOI) of $63,170. The weighted average rental rate stands at $1.57 per square foot, while market rents in the area are reported at $1.90 per square foot for non-climate-controlled units, indicating significant upside potential through rental rate adjustments and occupancy improvements. The property is owner-managed and will be delivered as-is, where-is. A CMBS loan with an approximate balance of $3,600,000 is in place and may be assumable, or will require yield maintenance. This is a rare opportunity to acquire a well-established, high-performing self-storage asset in a desirable Los Angeles County location. Prospective buyers are responsible for conducting their own due diligence and property condition assessments. The property is offered for sale for the first time.

Highlights

  • Fully stabilized self-storage facility in Claremont, CA.
  • 63,170 net rentable square feet across 669 units in three buildings on two parcels.
  • 95.4% occupancy, generating $63,170 NOI.
  • $1.57 weighted average rental rate, with market rents at $1.90/SF, offering upside potential.
  • Owner-managed, delivered as-is; CMBS loan of approximately $3,600,000, potentially assumable.
  • First-time offering of a well-established, high-performing asset in a desirable Los Angeles County location.

Property Details for 711-717 Mills Ave

Property type
Self storage facilities
Square Feet
63,170 SF
Year Built
1987

Location Insight

City
Claremont
County
Los Angeles
State
California
Latitude
34.0828991
Longitude
-117.7101443
711-717 Mills Ave, Claremont, California

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711-717 Mills Ave
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