For Sale
$5,500,000

1161 Park View Dr Covina, CA 91724

14,112 SF, Newly Renovated, Multi-Tenant

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional 14,112 square foot, two-story medical office building in Covina, California, presents a unique investment opportunity. Located in the Village Oaks Office Park, this Class C property boasts a prime location directly off Interstate 10, offering excellent freeway access, high visibility, and convenient proximity to local amenities. Completely renovated in 2023, the building features two contiguous suites: a first-floor suite of approximately 5,009 square feet and a second-floor suite of approximately 7,333 square feet. Currently housing two tenants, the property offers the potential for lease-up or owner-occupancy. Significant recent improvements, totaling nearly $1 million, include renovated lobbies and restrooms, enhanced building security, exterior finishing and paint, and new landscaping. A newly finalized long-term lease with Dish Wireless for rooftop antennas will generate an additional $36,000 in annual income. The property sits on a 0.73-acre lot and offers ample surface parking (4 spaces per 1,000 square feet). The permitted zoning is CVE5 & PCD. Built in 1983, this building represents a rare opportunity for a high-quality office investment in the heart of the San Gabriel Valley. The asking price is $5,500,000. APN: 8448-019-050.

Highlights

  • Two existing tenants in place; potential for lease-up or owner-occupancy.
  • Over $1 million invested in recent capital improvements, encompassing lobbies, restrooms, security systems, exterior finishes, landscaping, and more.
  • Securing a long-term lease with Dish Wireless for rooftop antennas, generating an additional $36,000 annual income.
  • Exceptional office investment opportunity in the San Gabriel Valley.

Property Details for 1161 Park View Dr

Property type
Office properties, Medical offices
Square Feet
14,112 SF
Class
C
Year Built/Renovated
1983/2023
Buildings
1
Stories
2
Lot Size (sq. ft)
31,799 SF

Location Insight

City
Covina
County
Los Angeles
State
California
Latitude
34.0688549
Longitude
-117.8604308

FAQs

What type of property is this?
Office property - 14,112 SF, Newly Renovated, Multi-Tenant
Where is the office property located?
The property is located at 1161 Park View Dr Covina, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Two existing tenants in place; potential for lease-up or owner-occupancy.; Over $1 million invested in recent capital improvements, encompassing lobbies, restrooms, security systems, exterior finishes, landscaping, and more.; Securing a long-term lease with Dish Wireless for rooftop antennas, generating an additional $36,000 annual income.
How can I contact the broker?
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1161 Park View Dr
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