560 S. St. Louis St.
Los Angeles, CA 90033 ·
10,500 SF · Office For Sale
7% CAP! - Single Tenant Net Leased Investment
|Building Size||10,500 SF||Building Class||B|
|Property Use Type||Net Lease Investment with 9 years left on lease||Lot Size||12,981 SF|
|Cap Rate||7%||APN / Parcel ID||5183-019-032|
|Listing ID: 18317990||Date Created: 08/19/2013||Last Updated: 02/24/2014|
An ideal hands-off investment for the passive investor. A perfect 1031 exchange upleg for an apartment investor looking to scale back on management hassles while continuing their strong, consistent cash-flow.
Tenant is ENKI Health & Research Systems. Established in 1978, ENKI provides multicultural & multilingual behavioral health services to SED children and adolescents and severely and persistently mentally ill adults throughout Los Angeles. With eight locations, this Boyle Heights location concentrates specifically on outpatient mental health services for children.
Current lease term runs through June 2021 with annual CPI increases and two 5-year options at market rate.
Parking is secured and consists of 42 total spaces (24 outdoor spaces, mostly tandem and 18 underground spaces, mix of single and tandem).
Located across the street from Hollenbeck Park and the $40m redevelopment of the Linda Vista Hospital into a 116 unit senior housing community in the neighborhood of Boyle Heights. The initial phase of 23 units was recently completed with the completion of the remaining 93 unit structure planned for summer 2015.
- Net Lease Providing a Strong, Stable Investment with No Landlord Responsibility
- Ideal 1031 Exchange Property
- Strong Tenant with 9 Years Remaining on Initial Term and Annual CPI Increases (2% Min)
- Located Directly Across from the $40m Redevelopment of Linda Vista Hospital
- Approved former Medical Use
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