13001 Lambert Road,  Whittier CA, 90602 (Commercial)

Status: Active
MLS#: GD16101803
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Last Updated: 12/8/2016 6:17 PM
Description for 13001 Lambert Road Whittier, CA 90602
**PLEASE DO NOT DISTURB TENANTS** The subject property is an approximately 5,500± square foot 6-unit strip center on the signalized north east corner of Lambert Road and Greenleaf Avenue in the City of Whittier. The property is situated on nearly 27,000 square feet of land and boasts a rare 10-to-1 parking ratio. The parcel is zoned C2 (general commercial) and all tenants are on month to month lease or have short term expiration dates. The property currently hosts a variety of tenants including an upholstery shop, an automotive repair facility, a beauty salon, a print shop and a large flower store. The flower shop can be vacated upon the close of escrow. On average, the tenants pay $1.87/SF (monthly) on a pure gross lease. Landlord is paying all utilities for the tenants. Considering the large parking allocation, our opinion is that the asset should be able to support rents at about $2.25 / SF plus utilities. That adjustment alone has the potential of improving the property cap rate to a 6% on proforma estimates.
Price
$1,645,000
Los Angeles
GD16101803
Active
Description
**PLEASE DO NOT DISTURB TENANTS** The subject property is an approximately 5,500± square foot 6-unit strip center on the signalized north east corner of Lambert Road and Greenleaf Avenue in the City of Whittier. The property is situated on nearly 27,000 square feet of land and boasts a rare 10-to-1 parking ratio. The parcel is zoned C2 (general commercial) and all tenants are on month to month lease or have short term expiration dates. The property currently hosts a variety of tenants including an upholstery shop, an automotive repair facility, a beauty salon, a print shop and a large flower store. The flower shop can be vacated upon the close of escrow. On average, the tenants pay $1.87/SF (monthly) on a pure gross lease. Landlord is paying all utilities for the tenants. Considering the large parking allocation, our opinion is that the asset should be able to support rents at about $2.25 / SF plus utilities. That adjustment alone has the potential of improving the property cap rate to a 6% on proforma estimates.
Listing Information
Property Type: General Commercial, Other
1955
Neighborhood
Room Information
Exterior / Lot Features
None
C2
Driving Directions
Property is located on the North East signalized corner of Greenleaf Ave & Lambert Road. Cross Streets: Greenleaf Ave
Financial Considerations
8165019021
Listing Price History

Whittier Real Estate

Whittier is located in California. Whittier, California 90602 has a population of 85,423.

The median household income in Whittier, California 90602 is $67,417. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Whittier 90602 is 34.9 years.

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Courtesy: Keller Williams R. E. Services Krikor Garabedian
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