Medical Building

4418 Vineland Ave.
Toluca Lake, CA
Offered at: $7,945,000

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Year Built: 1947
Property Type: Office Building
Property Status: Active
Description:

The subject property is an approximately 25,335 gross square foot multi-tenant medical office building located in the prestigious & affluent

neighborhood of Toluca Lake, between Studio City, Burbank, in the city of North Hollywood, CA. The property is occupied by long-term, extremely
stable tenants. The majority of the tenants have been located at the property for over 10 years, with several tenants having occupied the building for
over 30+ years. Additionally, the property has a Pharmacy and a retail Eye Glass Store that are both thriving and generate a tremendous amount of foot
traffic to the property.
The property can be sold with a separate buildable RD1.5-1 lot located at 10943 Landale Street. The lot is also for sale at $699,000 (see agent for
details). The building has a parking attendant for both parking lots which monitors and patrols the premises to maintain the proper use of the parking
spaces for clients and tenants of the building.

Investment Highlights

„• Fantastic Multi-Tenant Medical Building: 5.0% Cap and 6.8 % Total
• Return on Current Income and 10% on market (pro forma) income
„„• Prime Toluca Lake/North Hollywood Location
„• 100% Occupied
„„• Stable Tenants, some over 30+ years, majority over 10 + years
„„• Medical office buildings are recession proof and easy to manage
„„• Owner has a TTM for commercial condo conversion approval
„„• Great future development potential up to 69 units or more
„„• Potential to be used by owner/user