13279 Van Nuys BlvdLos Angeles, CA 91331

Property Details for 13279 Van Nuys Blvd

Year built

1966

Property size (Sq ft)

3,095 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional three-unit retail property, located at 13279 Van Nuys Blvd in Los Angeles, CA 91331, presents a compelling investment opportunity. The 3,095 square foot building, constructed in 1966 and extensively renovated in 2020, boasts a modern facade and excellent curb appeal. Currently operating at 100% occupancy with three tenants, the property generates a Net Operating Income (NOI) of $55,197, representing a 4.70% cap rate. However, a pro-forma NOI of $82,234 projects a significantly higher 7.00% cap rate, indicating substantial rental upside potential. Each unit is individually sized (510, 1488, and 1097 sq ft), offering flexibility for various retail uses. The property includes 10 parking spaces and benefits from its location on a major thoroughfare in a rapidly redeveloping area of Pacoima, with high traffic counts and excellent pedestrian access. Its proximity to the 118 and 5 freeways ensures convenient freeway and transit access, further enhanced by the planned Metro light rail line. The property is zoned LAC2 and features a land value of $219.38 per square foot. The current leases are modified, with a one-year remaining term expiring January 31, 2025, and the possibility of owner-occupancy and SBA financing. This property is an ideal investment for first-time buyers or owner-users seeking a strong return and significant growth potential. The APN is 2619-017-031.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.2658

Longitude

-118.423

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