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3171 Los Feliz Blvd OFFERING MEMORANDUM ` 3171 LOS FELIZ BOULEVARD LOS FELIZ, CA 90039 CONFIDENTIALITY AND DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Monteleone Real Estate, Inc. and it should not be made available to any other person or entity without the written consent of Monteleone Real Estate, Inc.. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the Offering Memorandum. If you have no interest in the subject property at this time, please return this Offering Memorandum to Monteleone Real Estate, Inc.. This Offering Memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a MIKE MONTELEONE, BROKER, CCIM, CRS Monteleone Real Estate, Inc. substitute for a thorough due diligence investigation. Monteleone Real Estate, Inc. has 818-917-1789 Cell not made any investigation, and makes no warranty or representation with respect to the CalBRE#00404713 income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the [email protected] presence or absence of contaminating substances, PCBs or asbestos, the compliance www.TheMonteleoneGroup.com with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Monteleone Real Estate, Inc. has not verified, and will not verify, any of the information contained herein, nor has Monteleone Real Estate, Inc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property BROKER OF RECORD 6355 TOPANGA CANYON BLVD #100, WOODLAND HILLS, CA 91367 CAL BRE ##01220309 New on the Market! Very Desirable Professional Office Building in OFFERING PRICE $16,800,000 Excellent Los Feliz location offers a ADDRESS 3171 LOS FELIZ BOULEVARD great opportunity for Investors CITY STATE LOS FELIZ, CA 90039 UNITS 63 YEAR BUILT 1982 GROSS SF 27,986 LAND SIZE 21,224 PARCEL # 5594-019-013 ZONING QC4-1-1XL-RIO-POD CONSTRUCTION Masonry Wood ROOF TYPE Flat Built-up Composition STORIES 3 PARKING 60 Tuck-Under Spaces 63- U N I T M U L T I - TENANT OFFICE BUILDING :: LOS FELIZ, CA 90039 4 This Attractive Contemporary Style Professional Office Building is approximately 27,986 sf on approximately 21,224 sf of land. The property is in particularly good condition and currently has 63 Small New on the Market! Very Desirable Professional Office Private Offices to better utilize space. Most offices are 100sf to 900sf Building in Excellent Los Feliz location offers a great and a few at 1,100sf to 2,250sf which provides an Ideal layout with opportunity for Investors. Excellent Demographics, Frontage private office design during this Covid-19 period. and Visibility. Currently 82% occupied during COVID-19 with many long-term tenants. This property has upside potential in rents plus many possibilities for future development. (Buyers There are also Major Wireless tenants with rooftop facilities. Many to rely solely on their own experts and professionals to long-term tenants are now month to month and only a few with 2 years perform their due diligence, inspections and evaluations remaining. This 3-Story Professional Building has 60 parking spaces at regarding zoning and use). Flexible Zoning: Q C-4 1XL -RIO- ground level with access from Los Feliz Blvd and the alley. There are 3- POD and located within the Enterprise Zone and Atwater electric iron gates plus an additional parking lot at the rear for 10 cars. Village District. Valet services are provided. All offices are on 2nd and 3rd floors and there is a 3-stop passenger elevator at the lobby entry. The common areas include interior corridors, stairways, storage rooms, electrical & telephone rooms as well as public rest rooms for men and women. Additional amenities include 8-surveillance cameras, 2 outdoor patios, private balconies, kitchen facilities and guest lobby areas. Easy access to the 5 and 134 freeways plus close to Glendale, Hollywood and downtown Los Angeles. Griffith Park, Los Angeles Zoo, Botanical Gardens and the Greek Theatre are also nearby. Seller has located his up leg and buyer to cooperate with seller in a 1031 Tax Deferred Exchange. 63- U N I T M U L T I - TENANT OFFICE BUILDING :: LOS FELIZ, CA 90039 5 N DARLA’S DOG WASH KAILYN’S HAIR SALON ACUPUNCTURE ADRIAN’S CLEANERS I NEED TICKETS THE MORRISON GIAMELA’S POTTED LOS FELIZ ANIMAL HOSPITAL BIGFOOT LODGE Companies Headquartered in Downtown Glendale Avery Dennison CBRE N Color Me Mine Disney Consumer Products DreamWorks Studios KABC7 Public Storage LegalZoom Univision Walt Disney Animation Whole Foods Market DineEquity/IHOP THE ROOST INDIA SPICES LOS FELIZ ANIMAL HOSPITAL BIGFOOT LODGE GIAMELA’S Unit # Type Usable SF Rentable SF Current Rent Current Rent/SF Lease Base Lease Terms Comments 200 Shared Suite 1,200 1,369 $3.21 F.S. 200-A Available - - $450 F.S. 200-B Available - - $800 F.S. 200-C Therapist, Jose Guerra - - $825 F.S. Month-to-month 200-D Therapist, Liz Cristiansen - - $955 F.S. Month-to-month 200-E Silver Star Home Health Inc. - - $1,375 F.S. 200-F Silver Star Home Health Inc. - - Included F.S. Month-to-month 201 Mikes Delivery 150 171 $1,000 $5.85 F.S. Month-to-month 202 Glenfeliz Chiropractic 2,200 2,510 $6,890 $2.75 F.S. 8/1/18 - 7/31/24 Sprint Sprint 300 342 $1,983 $2.89 - Lease Possible 15% Increase Nextel Nextel 300 342 Included $2.89 - 203 Medical Transportation Services 150 171 $1,100 $6.43 F.S. Month-to-month 204 Language Translation 300 342 $1,290 $3.77 F.S. Month-to-month $50 Increase per year 205 Alta Boy, Alen/Jude 1,500 1,711 $4,900 $2.86 F.S. 5/1/18 - 6/30/23 Fixed Rent 206 Natural Supplements 400 456 $2,000 $4.39 F.S. Month-to-month 207 Universal Hospice Care Inc. 900 1,027 $1,500 $1.46 F.S. 8/1/18 - 07/31/21 Fixed Rent 208 Cymbeline Smith 100 114 $500 $4.39 F.S. Month-to-month 208-A Available 100 114 $550 $4.82 F.S. 208-B Anna Yarlyani 100 114 $550 $4.82 F.S. Month-to-month 208-C Alan Gordon 100 114 $550 $4.82 F.S. Month-to-month 208-D Available 100 114 $500 $4.39 F.S. 208-E Kim Carlson 150 171 $800 $4.68 F.S. 11/1/18 - 10/30/21 Fixed Rent 208-F Guest Lobby 100 114 - - 209 Alyson Roux, Nutrition Inc. 100 114 $600 $5.26 F.S. Month-to-month 210 Susannah Cobb 100 114 $700 $6.14 F.S. Month-to-month 211 Acupuncture 100 114 $680 $5.96 F.S. Month-to-month 212-A Westside Home Health/Daisy 1,200 1,369 $4,950 $3.62 F.S. Month-to-month 212 Garen Vardani 200 228 $835 $3.66 F.S. Month-to-month 213 True Choice Home Health 200 228 $800 $3.51 F.S. 214 Los Feliz Home Health 100 114 $1,575 $2.76 F.S. 215 Los Feliz Home Health 100 114 Included $2.76 - 216 Los Feliz Home Health 300 342 Included $2.76 F.S. 10/1/19 - 10/31/24 Fixed Rent with 305 217 Sunwood Chiropractic 200 228 $1,300 $2.85 F.S. Month-to-month 218 Sunwood Chiropractic 200 228 Included $2.85 - Vacant 219 Health Body 150 171 $300 $1.75 F.S. Month-to-month 220 Available 200 228 $1,500 $6.58 F.S. Month-to-month 300 Shared Suite 1,500 1,670 - $3.26 F.S. Month-to-month 300-B Available - - $800 F.S. 300-C Paul Hodgdon - - $900 F.S. Month-to-month 10 Unit # Type Usable SF Rentable SF Current Rent Current Rent/SF Lease Base Lease Terms Comments 300-D Colleen - - $1,000 F.S. Month-to-month 300-E Armineh Amy Gourgian - - $750 F.S. Month-to-month 300-F Available - - $900 F.S. 300-G Florence - - $1,100 F.S. Month-to-month 301 Alfred & Armondo 600 668 $1,500 $2.25 F.S. Month-to-month 302 EZ Trans 600 668 $1,350 $2.02 F.S. Month-to-month 303 Shared Suite 1,650 1,837 - $2.91 - 303-A Storage-Owner - - - - 303-B Jason Kohn - - $1,200 F.S. Month-to-month 303-C Jason Kohn - - Included F.S. Month-to-month 303-D Hospice - - $1,250 F.S. Month-to-month 303-E Home Health Care - - $800 F.S. Month-to-month 303-F Home Health Care - - Included F.S. Month-to-month 303-G Production Co. - - $1,100 F.S. Month-to-month 303-1 Marabou Productions - - $1,000 F.S. Month-to-month 312 Encompass Hospice 900 1,002 $1,750 $1.75 F.S.
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