19500-19510 Ventura BlvdLos Angeles, CA 91356

  • Healthcare properties
  • 1.48 AC
For Sale
$29,000,000 View listing

Property Details for 19500-19510 Ventura Blvd

Year built
1982
Lot size
1.48 AC
Property type
Healthcare properties
Property subtype
Other office properties

Description

This exceptional Class A, 44,686 square foot medical office building in Tarzana, CA, presents a compelling investment opportunity. Located at 19500-19510 Ventura Blvd, 91356, this two-story building, situated on a 1.48-acre lot, boasts 139 parking spaces and underwent a $5 million renovation in 2021, featuring a redesigned façade, new windows, green walls, an atrium, updated restrooms, sprinklers, power, roof, and HVAC. The property benefits from a ground lease with a purchase option at a below-market rate, expiring March 30, 2065. Currently 68% occupied, it offers a 3.77% cap rate and a pro-forma cap rate of 8.09%. The building is zoned C2 and features a multi-tenant occupancy with a weighted average lease term of 12 years, providing stable cash flow. The recent renovations offer significant tax advantages. This property is ideally situated near the new Providence Cedars-Sinai Tarzana Medical Center, in a high-demand medical submarket. The asking price is $29,000,000. This is a rare opportunity to acquire a beautifully designed, modern medical office building with strong potential for appreciation and significant tax benefits. The building was originally constructed in 1982. The property's unique design, prime location, and strong financial performance make it an attractive investment for both medical groups and investors seeking a stable, high-return asset.

19500-19510 Ventura Blvd, Los Angeles, California

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.1724
Longitude
-118.558

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