A 10,050 square foot two-story low-rise office building situated on 13,137 square feet of land located one block south of the signalized corner of Laurel Canyon Blvd and Chandler Blvd in Valley Village. The property is located one block north of the corner of Magnolia Blvd and Laurel Canyon Blvd. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 52.5315 Laurel Canyon will be delivered with two vacant suites. The occupied spaces are long-time tenants operating under short term leases. Lease expiration dates are staggered in the upcoming years, with one of the longest leases coming due in 2023, providing for tremendous upside. With an average rent per square foot of $1.73, this asset provides an investor huge value-add potential when looking at the current average rent in this asset, creating potential for rental upside at lease roll-over. With short-term tenants, many of them being month-to-month, this is an ideal opportunity for an owner use to occupy a portion or all of the building. The subject property is centrally located in the high-end densely populated east San Fernando Valley sub-market of North Hollywood, just blocks south of the new NoHo West Development.
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