Details - Information last confirmed on September 9, 2020
Income-producing property with rent upside for this one-story stand-alone building with 7,318 square feet comprising 10 suites.
All 10 suites are rented. All tenants pay their rent and are on a month-to-month basis.
*4 Recording Studios:
One of the 4 recording studios is a 1,700 SF High Tech Professional Audio Recording Studio compound, which is value-add since the build-out cost of $650K is NOT added to the building ask price. This 1,700 SF Professional Audio Recording Studio will be delivered vacant at the close of escrow
* 4 Creative Spaces/offices
* 2 Flex/creative-spaces/warehouses (1,600 SF & 1,450 SF) suitable for Film/TV/videos production &/or post production.
It is a stable and strong investment considering the i. 5% CAP RATE, ii. the building recently being updated, iii. the value-add from the solar system, iv. the value-add for the 1,700 SF professional audio recording studio build-out cost of about $650K., v. and the rent upside.
Current CAP 5.00%
Cash-flowing office/flex investment opportunity with income stream and rent upside
Value-add: Includes a 1,700 sf Professional Audio Recording Studio, built-out cost over $600K -
Value-add: Solar System/Panels on Roof
Building recently renovated
Secure, security building
Clean, Quiet, Business Atmosphere
Low maintenance building,
The 1,700 square feet professional recording studio will be delivered vacant at close of escrow.
Proof of Funds will be required for all prospects before visiting property
All suites will be open to visit with an accepted LOI or an accepted offer.
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