SAN FERNANDO, CA
651 ARROYO STREET
SAN FERNANDO, CA 91340
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CHRISTIAN DESNOES
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DANNY MURRAY
651 Arroyo Street, San Fernando, CA 91340
Address:
Property Type:
Multi-Tenant
Price:
$6,000,000
Building Square Feet:
23,660 SF
Cap Rate:
6.66%
Lot Size:
0.79 Acres
Price Per Square Foot:
$253.59
Year Built/Renovated:
1947/2022
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About the Property
23,660-Square-Foot Fully Occupied Two-Tenant Warehouse Situated on 0.79 Acres
Metal and Stucco Construction Featuring 22’ Clear Height, Five (5) Ground-Level Doors, and 1,200 Amps
Fully Concrete Paved and Gated Yard
100% Occupied with FMV Options to Extend | Newly Executed Leases with 4.3 Years Remaining WALT
About the Location
Located in the City of San Fernando, Exempt from Measure ULA (Outside the City of LA & Free from the Mansion Tax)
Great Industrial Pocket of Los Angeles within the East San Fernando Valley Submarket that Features Over 55.1 Million Square Feet of Industrial Product
Strategically Situated Within 50 Miles of Long Beach and Los Angeles Port, Burbank and Los Angeles Airports, and Downtown Los Angeles
Immediate Access to State Route 118 and Interstate 210
Tight Barrier-to-Entry Submarket with 3.6% Vacancy Rate (CoStar)
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 651 Arroyo Street in San Fernando, California. The subject property consists of approximately 23,660 square feet of warehouse space and is situated on 0.79 acres of M2 land. The multi-tenant asset features a clear height of 22’, five grade-level doors, three-phase power with 1200 amps, and a fully concrete paved and gated yard. Both units are fully leased at competitive rates through 2027, making it an ideal fit for investors seeking stability and strong returns with immediate cash flow and minimal operational hassle.
Located in the City of San Fernando, the property resides outside of the City of Los Angeles Municipality and zoning restrictions and this is exempt from Measure ULA (Los Angeles Mansion Tax). Positioned outside the City of Los Angeles, the property resides in the East San Fernando Valley submarket, one of the region’s largest industrial hubs, encompassing 55.1 million square feet of space. As of Q4 2024, the submarket boasts an impressively low vacancy rate of 3.6%, significantly outperforming the 6.1% vacancy rate in the Greater Los Angeles market. While annual rent growth has slowed to 1.3% over the trailing 12 months, rents in the area remain aligned with the long-term growth trends, supported by staggering double-digit growth over the past five years. Industrial rents in this submarket, particularly for smaller industrial spaces, can reach up to $30/SF, with older, larger spaces typically ranging from the high teens to $20/SF. The submarket has experienced modest industrial development, ensuring that vacancies and rents remain stable due to the limited new supply (CoStar).
Investment Overview
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved.