711-717 Mills AveClaremont, CA 91711

Property Details for 711-717 Mills Ave

Year built

1987

Property size (Sq ft)

63,170 SF

Property type

Industrial properties

Property subtype

Self storage facilities

Description

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.

Location Insight

City

Claremont

County

Los Angeles

State

California

Latitude

34.0829

Longitude

-117.71

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