FOR SALE: Fully Occupied Covina Strip Mall w/ Great Parking on 18,650 SF of Land 530-540 N Azusa Ave Covina, CA 91722 PRICE: $1,995,000 TOTAL BUILING.

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Presentation transcript:

FOR SALE: Fully Occupied Covina Strip Mall w/ Great Parking on 18,650 SF of Land 530-540 N Azusa Ave Covina, CA 91722 PRICE: $1,995,000 TOTAL BUILING SIZE: 7,670 sq. ft. (7,540 sq. ft. Per Title) TOTAL LOT SIZE: 18,650 sq. ft.) PRICE PER SQ. FT.: $265 (bldg) $107 (land) CURRENT CAP RATE: 5.65% ACTUAL Strong Cap Rate currently at 5.65% -Approx. (#) Parking Spaces Low Average rent of $1.66 GROSS per sq. ft. Middle Corner Location Zoning: WCNC* For More Information: Chris Comfort President 424-293-8085 x 101 ccomfort@gowithapex.com BRE# 01407997 11040 Santa Monica Blvd. Ste. 210 Los Angeles, CA 90025 Although taken from sources deemed reliable, the information contained herein is neither warranted nor guaranteed by Chris Comfort or Apex Properties.

PROJECT DESCRIPTION: For More Information: The subject property consists of close to 8,000 sq. ft building size with 5 seasoned retail tenants at 100% occupancy. The property is located on a busy middle corner and enjoys ample back lot parking. Neighboring retail strip centers include popular named tenants Big Lots, Food 4 Less, CVS and Stater Bros Markets. The Subject Property also benefits from excellent visibility, adjacent residential housing and moderate to high traffic intersection, and strong historical occupancy rates. Currently tenant rents are at an average rent per sq. ft. of only $1.66 per sq. ft. GROSS. With the potential to increase rents to market levels, the investor will realize current stability and substantial upside in this investment. For More Information: Chris Comfort President 424-293-8085 x 101 ccomfort@gowithapex.com Although taken from sources deemed reliable, the information contained herein is neither warranted nor guaranteed by Chris Comfort or Apex Properties.

RENT ROLL AND FINANCIAL ANALYSIS: Unit Tenant Size Gross Rent Gross Rent per sq. ft. Lease Exp 532 Friar Tux 1,950 $3,388 $1.74 6/20/20 534 Ty Nails 1,400 $2,057 $1.47 5/31/21 536 Star Salon 1,500 $2,259 $1.51 12/31/20 538 Chaba Massage 1,200 $1,935 $1.61 1/31/22 540 Pay Day Express 1,620 $3,172 $1.96 12/31/19 Total: 7,670 $12,811 * Title records indicate the building as 7,540 sq. ft. Expenses Property Tax: $25,000 Annual Gross: $153,732 Insurance: $5,000 Less Expenses: $(40,928) Water: $2,300 NOI: $112,804 Trash: $4,728 Edison: $1,200 Gardener: $1,500 Cap Rate: 5.65% Repairs: Price: $1,995,000 $40,928 Price psf (bldg): $265 Although taken from sources deemed reliable, the information contained herein is neither warranted nor guaranteed by Chris Comfort or Apex Properties.

AREA MAP: Although taken from sources deemed reliable, the information contained herein is neither warranted nor guaranteed by Chris Comfort or Apex Properties.

ADDITIONAL PHOTOS: For More Information: Chris Comfort President 424-293-8085 x 101 ccomfort@gowithapex.com BRE# 01407997 Although taken from sources deemed reliable, the information contained herein is neither warranted nor guaranteed by Chris Comfort or Apex Properties.