19500-19510 Ventura Blvd Los Angeles, CA 91356
- Office Properties & Spaces
- 1.48 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 19500-19510 Ventura Blvd
- Year built
- 1982
- Lot size
- 1.48 lot acres
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional Class A, 44,686 square foot medical office building in Tarzana, CA, presents a compelling investment opportunity. Located at 19500-19510 Ventura Blvd, 91356, this two-story building, situated on a 1.48-acre lot, boasts 139 parking spaces and underwent a $5 million renovation in 2021, featuring a redesigned façade, new windows, green walls, an atrium, updated restrooms, sprinklers, power, roof, and HVAC. The property benefits from a ground lease with a purchase option at a below-market rate, expiring March 30, 2065. Currently 68% occupied, it offers a 3.77% cap rate and a pro-forma cap rate of 8.09%. The building is zoned C2 and features a multi-tenant occupancy with a weighted average lease term of 12 years, providing stable cash flow. The recent renovations offer significant tax advantages. This property is ideally situated near the new Providence Cedars-Sinai Tarzana Medical Center, in a high-demand medical submarket. The asking price is $29,000,000. This is a rare opportunity to acquire a beautifully designed, modern medical office building with strong potential for appreciation and significant tax benefits. The building was originally constructed in 1982. The property's unique design, prime location, and strong financial performance make it an attractive investment for both medical groups and investors seeking a stable, high-return asset.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.558
- Latitude
- 34.1724
