Under Contract
1743 W La Palma Avenue
Anaheim CA, 92801
$1,890,000
$420.00 per sqft
Under Contract
4,500 sqft
Commercial
Built in 1962
Listed by Robert Tran with HPT Realty 714-775-7100
VALUE ADD OPPORTUNITY or BUSINESS OWNER DREAM!
Two below-market rent tenants lease expired, next to each other, and one more will expire by end of 2024. Increase to market rent, or combine all 3 units to open your dream business.
1741- 1749 W La Palma Introducing a prime commercial property opportunity: a meticulously maintained strip center spanning 4,500 square feet on a generous 13,032 square foot lot. Comprising five fully leased units, this property stands as a lucrative investment on a bustling high-traffic street, promising exceptional visibility and accessibility.
Situated in a prime location, this strip center offers a remarkable value-add potential. With most tenant leases transitioning to a month-to-month basis, there is a unique opportunity to optimize returns by adjusting rental rates. Projected to achieve a potential yield of 5.3%, this property is poised for increased profitability.
The strategic positioning of this commercial gem not only ensures immediate returns but also holds promising prospects for long-term appreciation. Boasting a new roof and scheduled parking lot repairs in April, the property is poised for enhanced durability and reduced maintenance costs.
The property features 14 parking spaces in the front and an additional 10 at the rear, ensuring ample convenience for both tenants and customers.
Whether you are an astute investor seeking a steady income stream or someone keen on capitalizing on the potential appreciation of a prime location, this commercial property offers a well-rounded investment opportunity. Don't miss out on the chance to be part of a thriving community with this turnkey strip center that combines immediate stability with future growth potential.
OC24045104
MLSⓇ ID
March 1, 2024
Listed
April 30, 2024
Updated
Map
1743 W La Palma Avenue
Anaheim CA, 92801
Interior Features
Total Stories
1
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.3 Acres
Lot Features
2-5 Units/Acre
Other Property Details
Area Name
79 - Anaheim West of Harbor
Days on Market
56
Garage
No
View
No
County
Orange
Water Source
Public
Pool
No
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
---|---|---|
4/30/2024 | Under Contract | — |
4/15/2024 | Price Change | $1,890,000 -6% |
4/9/2024 | Price Change | $1,990,000 -6% |
Listing Contact: 714-775-7100
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/30/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 4/30/2024 at 4:10 PM UTC