13001 Lambert Road, Whittier, CA 90602

$1,645,000 Approx. USD 0 beds, 0 baths
5,548 sqft

Agent Remarks

**PLEASE DO NOT DISTURB TENANTS** The subject property is an approximately 5,500┬▒ square foot 6-unit strip center on the signalized north east corner of Lambert Road and Greenleaf Avenue in the City of Whittier. The property is situated on nearly 27,000 square feet of land and boasts a rare 10-to-1 parking ratio. The parcel is zoned C2 (general commercial) and all tenants are on month to month lease or have short term expiration dates. The property currently hosts a variety of tenants including an upholstery shop, an automotive repair facility, a beauty salon, a print shop and a large flower store. The flower shop can be vacated upon the close of escrow. On average, the tenants pay $1.87/SF (monthly) on a pure gross lease. Landlord is paying all utilities for the tenants. Considering the large parking allocation, our opinion is that the asset should be able to support rents at about $2.25 / SF plus utilities. That adjustment alone has the potential of improving the property cap rate to a 6% on proforma estimates.

Listing Details

Property type: RET (Commercial)
Status: Active
MLS# GD16101803
List price is $1,645,000 Reduced by $54,000 on 10/4/2016
Beds: 0
Baths: 0
Built in 1955
5,548 sqft
0.61 acres
Lot size: 26951.000
County: Los Angeles
Zoning: C2
MLS area: 670 - Whittier

Last Updated: 10/14/2016

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This listing belongs to the 670 - Whittier MLS area

The listing is zoned C2.
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Lat/Long: 33.961044, -118.041313.
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Broker: Courtesy of Keller Williams R. E. Services
Listing Agent: Krikor Garabedian

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