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5942 Rugby Ave, Huntington Park, CA 90255
0 Beds |
0 Baths |
Sold: $6,000,000
This rare investment property is located at an irreplaceable, high density, infill location with more than 1.2M people within 5 miles from the property. Near the corner of Pacific Boulevard and Slauson Avenue, the area is one of the highest gross retail districts in Los Angeles County, with dense population, convenient public transportions and many medical services to the local community, and minutes to Downtown L.A. A national leader in medical dialysis and related services, DaVita Dialysis, a New York Stock Exchange traded Fortune 500 company, is the single tenant with a long-term NNN lease since 2009 when the builiding was constructed. The tenant has invested heavily into the state-of-art facility and has just exercised the option to extend the lease term to 2026. There is no landlord responsibilities except minimum shared responsiblity on structural.
Marty Clouser represented the buyer on its downleg of 1031 tax deferred exchange. The motivation for the buyer was stable cash flow with no landlord responsibility. NOI at the time of the sale was $339,536 and cap rate was 5.66%. The buyer paid all cash and it closed in 59 days. There was no deferred maintenance or concessions.
Sold: $6,000,000
This rare investment property is located at an irreplaceable, high density, infill location with more than 1.2M people within 5 miles from the property. Near the corner of Pacific Boulevard and Slauson Avenue, the area is one of the highest gross retail districts in Los Angeles County, with dense population, convenient public transportions and many medical services to the local community, and minutes to Downtown L.A. A national leader in medical dialysis and related services, DaVita Dialysis, a New York Stock Exchange traded Fortune 500 company, is the single tenant with a long-term NNN lease since 2009 when the builiding was constructed. The tenant has invested heavily into the state-of-art facility and has just exercised the option to extend the lease term to 2026. There is no landlord responsibilities except minimum shared responsiblity on structural.
Marty Clouser represented the buyer on its downleg of 1031 tax deferred exchange. The motivation for the buyer was stable cash flow with no landlord responsibility. NOI at the time of the sale was $339,536 and cap rate was 5.66%. The buyer paid all cash and it closed in 59 days. There was no deferred maintenance or concessions.