Six-Story Multi-Tenant Office
For Sale
Contact for pricing
15720 Ventura Boulevard, Encino, CA 91436
Multi-tenant office property with medical services and ground-floor retail.
Property Size85,650 SF
Price / SF$233.50
Days on Market68
Property Features for 15720 Ventura Boulevard
General Information
Standard status
Active
Size
85,650 SF
Class
B
Total Parking Spaces
231
Property subtype
Office, Retail
Zoning
C4 & R3
Occupancy
75%
Investment Type
Owner/User
Net Operating Income
$927,000
Additional Details
Highway Access
Yes
Building Details
Year Built
1964
Buildings
1
Stories
6
Units
122
Tenancy
Multi
Listing Agency:
Tamarack Real Estate Services
Listed By:
David Kaufman · License #CA 01217537
(310) 877-8600
Source:
Crexi
Added: Aug 10
Changed: Oct 15
Last Checked: Oct 16 at 7:27AM
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 Tamarack Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-story office and retail building was constructed in 1964 and contains 122 tenant spaces, primarily serving medical office users, with retail space on the ground floor. Twenty vacant suites comprise 17,937 square feet, representing 22.5% of rentable square footage. Building income also includes billboard, cell tower, and parking revenue.
The property includes a two-story parking structure and a separate open parking lot at the rear, with excess parking serving the building. Zoning is C4 & R3, and the site falls within the Ventura/Cahuenga Boulevard Corridor Specific Plan in the City of Los Angeles. The property has access to the 101 and 405 freeways and is located a short distance from Tarzana Medical Center.
The property includes a two-story parking structure and a separate open parking lot at the rear, with excess parking serving the building. Zoning is C4 & R3, and the site falls within the Ventura/Cahuenga Boulevard Corridor Specific Plan in the City of Los Angeles. The property has access to the 101 and 405 freeways and is located a short distance from Tarzana Medical Center.
Key Highlights
- Six‑story office and retail building constructed in 1964
- 122 tenant spaces, primarily occupied by medical office services
- 20 vacant suites totaling 17,937 sq. ft., or 22.5% of rentable sq. ft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,624,261
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$32,485,220
$32.5M
Cap Rate 7%
$23,203,729
$23.2M
Cap Rate 9%
$18,047,344
$18.0M
Market Conditions
NOI Build-Up for 85,650 SF
Gross rent
$2.90M $33.84/SF
− Vacancy
−$191.3K −$2.23/SF
EGI
$2.71M $31.61/SF
− OpEx
−$1.08M −$12.64/SF
NOI
$1.62M $18.96/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$32,485,220
Cap Rate 7%
$23,203,729
Cap Rate 9%
$18,047,344
Alternative Uses
Best Use
Retail
$27.07M
$23.69M – $31.58M
NOI $1,894,971 @ 7.0% cap · market cap 9.48%
Second Best
Office B
$26.75M
$23.40M – $31.20M
NOI $1,872,240 @ 7.0% cap · market cap 9.36%
Theoretical Best
Office A
$45.86M
$40.12M – $53.50M
NOI $3,209,967 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,756
Businesses Nearby
Explore this area
Business Placement
Demographics for 91436, CA
15,189
Population
6,288
Households
2.4
Avg Household Size
46
Median Age
71%
College-Educated
95%
High-School Grad
5.2 sq mi
ZIP Area
2,921
Density / Sq Mi
$174,803
Median Household Income
$87,821
Median Earnings
$2,813
Median Rent
$1,894,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office property with medical services and ground-floor retail.
Where is this office building located?
The property is located at 15720 Ventura Boulevard Encino, CA.
What is the asking price?
The asking price for this property is $19,999,000.
What are key features of this property?
This property features: Six‑story office and retail building constructed in 1964; 122 tenant spaces, primarily occupied by medical office services; 20 vacant suites totaling 17,937 sq. ft., or 22.5% of rentable sq. ft.
