15831 Imperial Hwy La Mirada, CA 90638-2513

Property Details for 15831 Imperial Hwy

Year built

1961

Construction

WOOD

Lot size

1.38 lot acres

Property size

9,555 SF

Zone code

LMC4*

Property type

Community centers

APN

8035-018-027

APU

8035018027

Description

This exceptional value-add opportunity presents a 9,547 square foot, multi-tenant shopping center in La Mirada, CA. Located at 15831 Imperial Hwy, this 100% occupied property boasts seven tenants, generating a current NOI of $150,360 and a projected NOI of $195,156, representing a 5.17% cap rate and a pro-forma cap rate of 6.71%. The property sits on a 1.38-acre lot (60,255 sq ft) in the heart of La Mirada Towne Center, shadow-anchored by Savers, and benefits from a high-traffic location at the signalized intersection of Imperial Highway and Santa Gertrudes Ave, with over 55,514 cars passing daily. Built in 1961, this single-story building features efficiently sized suites ideal for high occupancy and low tenant improvement costs. The strong tenant mix caters to the daily needs of the affluent surrounding community, with an average household income exceeding $137,442 within a three-mile radius, encompassing 193,000 residents. Current rents are significantly below market, offering substantial upside potential for increased cash flow. The property's net lease structure includes rent increases for all tenants. This presents a perfect opportunity for a 1031 exchange and potential future development, given the oversized lot and location within the Imperial Highway Specific Plan. The asking price is $2,910,000 ($304.81/sq ft).

Location Insight

City

La Mirada

County

Los Angeles

State

California

Longitude

-117.993

Latitude

33.918

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments