Bancap Self Storage Group, Inc. is pleased to present this first generation, single-story self storage investment opportunity in Santa Clarita, California. This property offers the investor a combination of all single-story drive-up units, high physical occupancy, below market rates, highway location near a new community college and significant upside potential.
The property has a gross potential income of $467,880 plus miscellaneous income sources. Physical occupancy is currently about 99% by square footage and unit count. 2016 rental income economic occupancy is approximately 60% of gross potential income, providing the buyer with significant upside potential in income and value over time.
A-1 Sierra Storage is a first generation, single-story self storage facility located in the Canyon Country area of the City of Santa Clarita. The property has approximately 37,260 net rentable square feet of inside storage space demised into 393 self-storage units plus five outdoor storage spaces for a total of 398 units.
Family owned and operated since it first opened in 1982, the property consists of all metal custom converted storage containers.
The facility is located on Sierra Highway across the street from a new community college. The area is growing with new residential and commercial developments nearby. The immediate vicinity should see significant growth and redevelopment in the coming years.
The City of Santa Clarita is located in northern Los Angeles County approximately 35 miles from downtown Los Angeles. It is the third largest city in the county. CNN Money Magazine refers to it as one of the best places to live in California. The Santa Clarita Valley is one of Southern California' s fastest growing areas with over 250,000 people living in the City and surrounding unincorporated areas.
