Connected Office Courtyard
For Sale
Contact for pricing
Pending
515 S 2nd Ave, Covina, CA 91723
Three free-standing, connected office buildings offer separately metered utilities and modified gross leases.
Property Size3,639 SF
Days on Market134
Property Features for 515 S 2nd Ave
General Information
Standard status
Pending
Size
3,639 SF
Property subtype
Office
Building Details
Tenancy
Multi
Listing Agency:
NAI Capital - Pasadena
(626) 204-1528
Listed By:
Robert Stover · License #CA 00688318
Source:
Crexi
Added: Apr 12
Changed: Aug 14
Last Checked: Aug 21 at 3:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Capital - Pasadena
Investment Insights
Based on property information with market context.
The Courtyard consists of three free-standing, yet connected, commercial and office buildings, with unit sizes ranging from 719 sf to 3,639 sf. The project is currently occupied by four tenants, including a non-profit organization that has been in place since 1996. All units are separately metered for utilities, supporting independent building management. Leases are structured as modified gross leases, with the landlord paying building operating costs in year one and the tenant paying its pro-rata share of any increases in subsequent years.
Parking is provided at 6.4 spaces per 1,000 sf leased, which the seller notes creates flexibility for medical users. The property offers a stable in-place tenant base, with tenancy durations varying across the current occupants.
Overall, the configuration combines multiple connected office structures with independently metered utilities and a lease structure designed to address year-one operating cost coverage while allocating increases after that point.
Parking is provided at 6.4 spaces per 1,000 sf leased, which the seller notes creates flexibility for medical users. The property offers a stable in-place tenant base, with tenancy durations varying across the current occupants.
Overall, the configuration combines multiple connected office structures with independently metered utilities and a lease structure designed to address year-one operating cost coverage while allocating increases after that point.
Key Highlights
- Courtyard includes three free‑standing, connected commercial/office buildings totaling 719 sf to 3,639 sf each
- Occupied by four tenants, including a tenant since 1996 (Mentor Network, a non‑profit adult day care training and rehabilitation provider)
- Modified gross leases: landlord pays building operating costs in year one; tenants pay their pro‑rata share of increases in later years
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,898
Businesses Nearby
Explore this area
Business Placement
Demographics for 91723, CA
19,653
Population
6,516
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
8,545
Density / Sq Mi
$87,363
Median Household Income
$44,154
Median Earnings
$1,711
Median Rent
$663,800
Median Home Value
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Three free-standing, connected office buildings offer separately metered utilities and modified gross leases.
Where is this office units located?
The property is located at 515 S 2nd Ave Covina, CA.
What are key features of this property?
This property features: Courtyard includes three free‑standing, connected commercial/office buildings totaling 719 sf to 3,639 sf each; Occupied by four tenants, including a tenant since 1996 (Mentor Network, a non‑profit adult day care training and rehabilitation provider); Modified gross leases: landlord pays building operating costs in year one; tenants pay their pro‑rata share of increases in later years
