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IVPC HOUSING CONVERSION FOR FEDERAL EMPLOYEES 495 W Main St 30,000 SF Office Building El Centro, CA 92243 $950,000 ($31.67/SF)
Investment Highlights
- Rehab / Development Opportunity
- Substantial vacant spaces for more possible income (verify with the city for all details)
- Closest Best Western Inn's booking rate is 120% (verify with the city for all details)
- First floor retail, Second floor office | live/work studio apartment
- El Centro apartment occupancy rate is 99.9%
Executive Summary
Excellent Rehab/Development Opportunity
Mixed-use potential with first-floor retail(COIN LAUNDRY, CONVENIENT STORE, BARBER SHOP, DONUT SHOP, SMOKE SHOP),
2nd floor currently offices, CAN BE CONVERTED INTO live/work studio apartment(40 to 46 UNITS) option.
Offers substantial vacant space for additional income (buyer to verify with city). Located in a high-demand area with a 99.9% apartment occupancy rate in El Centro and nearby hotel booking rates exceeding 120%.
AFTER REMODEL/CONVERSION MONTHLY PROJECTED INCOME WILL BE $25,000 TO $30,000 per month for residential Units for the 2nd Floor
MAKING THIS PROPERTY VALUE TO BE $4,000,000.00 to $6,000,000 +(after 1st floor renovation) at CAP 6%
REMODEL ESTIMATES CAME IN AT $900,000.
LOCAL MANAGEMENT AVAILABLE.
SECURING GOVERMENT CONTRACT TALKS WITH FEDERAL LEVEL.
CONSULTATION IN PERSON, PLEASE TEXT TO MAX LEE 213-434-2433
Mixed-use potential with first-floor retail(COIN LAUNDRY, CONVENIENT STORE, BARBER SHOP, DONUT SHOP, SMOKE SHOP),
2nd floor currently offices, CAN BE CONVERTED INTO live/work studio apartment(40 to 46 UNITS) option.
Offers substantial vacant space for additional income (buyer to verify with city). Located in a high-demand area with a 99.9% apartment occupancy rate in El Centro and nearby hotel booking rates exceeding 120%.
AFTER REMODEL/CONVERSION MONTHLY PROJECTED INCOME WILL BE $25,000 TO $30,000 per month for residential Units for the 2nd Floor
MAKING THIS PROPERTY VALUE TO BE $4,000,000.00 to $6,000,000 +(after 1st floor renovation) at CAP 6%
REMODEL ESTIMATES CAME IN AT $900,000.
LOCAL MANAGEMENT AVAILABLE.
SECURING GOVERMENT CONTRACT TALKS WITH FEDERAL LEVEL.
CONSULTATION IN PERSON, PLEASE TEXT TO MAX LEE 213-434-2433
Data Room Click Here to Access
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Office/Residential
Building Size
30,000 SF
Building Class
C
Year Built
1990
Price
$950,000
Price Per SF
$31.67
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
15,000 SF
Building FAR
2.13
Lot Size
0.32 AC
Zoning
Commercial - Commercial - Please verify with City of El Centro
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Walk Score®
Very Walkable (78)
Property Taxes
| Parcel Numbers | Improvements Assessment | $372,000 | |
| Land Assessment | $56,000 | Total Assessment | $428,000 |
Property Taxes
Parcel Numbers
Land Assessment
$56,000
Improvements Assessment
$372,000
Total Assessment
$428,000
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IVPC HOUSING CONVERSION FOR FEDERAL EMPLOYEES | 495 W Main St
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