Property Description

Lucrum Real Estate Group is proud to present, a value-add, single-tenant retail opportunity located at 13424 & 13242 ½ Riverside Drive in the highly desirable City of Sherman Oaks, California. Potential for interest-only Seller financing.

The property consists of 2 individually metered spaces, currently leased on a month-to-month basis to one tenant, offering an owner-user the ability to occupy part of the space, while leasing out the other, off-setting the mortgage, or for an astute investor looking to reposition the property and bring the rents up to market.

The space is currently occupied by Nail Fetish, a long-term tenant that is operating at a rental rate of $1.98 p/sf, far below the market average of ±$3.36 p/sf.

The property encompasses roughly ±1,225 square feet and is situated on a ±3,000 square foot lot, offering a zoning of LAC1.5. Per city records, the building was constructed in 1949 of wood frame with a flat roof and stucco exterior, and recently ownership installed a new 200-amp commercial main panel, as well as one sub-panel, and new Siemens meters.

In addition, the property provides a parking lot containing (5) spaces, accessible from the rear alley, between Longridge Ave and Fulton Ave.

Sherman Oaks is a vibrant neighborhood located in the San Fernando Valley region of Los Angeles, California. Known for its tree-lined streets, upscale residential areas, and bustling commercial districts, Sherman Oaks offers a blend of suburban charm and urban convenience. The neighborhood is bordered by Studio City to the east, Van Nuys to the north, Bel-Air and Beverly Hills to the south, and Encino to the west.

As of the latest available data, Sherman Oaks has a population of approximately 65,000 residents. The neighborhood is known for its diverse demographic makeup, with residents representing a wide range of ethnicities, cultures, and backgrounds. Families, professionals, and young adults are drawn to Sherman Oaks for its quality of life, excellent schools, and proximity to employment centers.

Sherman Oaks has experienced steady economic growth over the years, driven by its thriving business community and proximity to major employment centers. The neighborhood is home to a diverse array of businesses, including corporate offices, professional services, retail establishments, restaurants, and entertainment venues. Additionally, Sherman Oaks benefits from its location along Ventura Boulevard, a prominent commercial corridor in the San Fernando Valley.

Sherman Oaks offers a variety of job opportunities across multiple industries, including healthcare, finance, technology, entertainment, and retail. The neighborhood is home to numerous businesses, medical offices, law firms, and creative agencies, providing employment options for residents with diverse skill sets and backgrounds. Additionally, Sherman Oaks’ proximity to major employment hubs such as downtown Los Angeles, Burbank, and Hollywood further enhances job opportunities for local residents.

Sherman Oaks is characterized by a mix of housing options, including single-family homes, condominiums, townhouses, and apartment buildings. The neighborhood’s residential real estate market is robust, with properties ranging from charming mid-century homes to modern luxury estates. Sherman Oaks’ desirable location, excellent schools, and neighborhood amenities contribute to its appeal among homebuyers and renters alike.

In addition to its thriving economy, Sherman Oaks offers a wide range of community amenities and recreational opportunities. The neighborhood is home to beautiful parks, hiking trails, recreational facilities, and cultural attractions. Residents can enjoy outdoor activities at parks such as Van Nuys-Sherman Oaks Park and Dixie Canyon Park, or explore nearby attractions like the Sherman Oaks Galleria and the Skirball Cultural Center.

Sherman Oaks is a dynamic and desirable community in the heart of the San Fernando Valley, offering a high quality of life, a strong job market, and a diverse range of amenities. With its thriving economy, diverse population, and convenient location, Sherman Oaks continues to attract residents and businesses seeking a vibrant and welcoming place to live, work, and play.

Property Highlights

+ Potential for interest-only Seller financing
+ Significant value-add opportunity with ±76% upside in rental income
+ Newly installed 200-amp commercial main panel and sub-panel
+ Opportunity to subdivide the space into a 2-tenant retail property
+ 2 Individual electric meters & hot water heaters
+ The property includes a 5-car parking lot
+ Potential to be vacated after the close of escrow