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17020 Chatsworth Street
Granada Hills, CA 91344

$9,650,000 
  • -- Beds
  • -- Baths
  • 43,017 sqft
  • Commercial | Retail
  • Active
17020 Chatsworth Street, Granada Hills - 576118340
17020 Chatsworth Street, Granada Hills - 576118341
17020 Chatsworth Street, Granada Hills - 576118342
17020 Chatsworth Street, Granada Hills - 576118343
17020 Chatsworth Street, Granada Hills - 576118344
17020 Chatsworth Street, Granada Hills - 576118345
17020 Chatsworth Street, Granada Hills - 576118346
17020 Chatsworth Street, Granada Hills - 576118347
17020 Chatsworth Street, Granada Hills - 576118348
17020 Chatsworth Street, Granada Hills - 576118349
17020 Chatsworth Street, Granada Hills - 576118350
17020 Chatsworth Street, Granada Hills - 576118351
17020 Chatsworth Street, Granada Hills - 576118352
17020 Chatsworth Street, Granada Hills - 576118353
17020 Chatsworth Street, Granada Hills - 576118354
17020 Chatsworth Street, Granada Hills - 576118355
17020 Chatsworth Street, Granada Hills - 576118356
17020 Chatsworth Street, Granada Hills - 576118357

Property Description for 17020 Chatsworth Street, Granada Hills CA 91344

The property consists of a single story 99 Cent Only Store along with a two story multi-tenant retail / office building. 99 Cent Only has recently exercised their fifth option to extend their lease. That option period begins in February 2019. They have one remaining 5 year option beginning in February 2024. 99 Cent Only has been at this location for over 20 years and although they do not report sales for this location, the store is always busy and 99 Cent Only is reporting expected 2018 company revenue of $2.25 Billion and 8%-8.5% increase in same store sales. The office and retail shop space portion of this offering is where investors will find the value add component. There are currently 6 retail shop units and 34 office suite units. The office portion is equipped with HVAC and an elevator. All of the office suites are currently on month to month lease terms and the average rent is only $1.18 gross per sq. ft. The rents on these units should be increased to market levels of $2.00 gross per sq. ft., delivering a pro forma cap rate of 8%. The property sits on a massive 1.8 acre lot with approximately 125 parking stalls. The property also has strong future development potential of commercial or residential units with C 1- 1VL zoning. The property is part of a larger project on the corner of Chatsworth St and Balboa Blvd. Although not part of this offering, the larger project includes Walgreens, Staples, and El Pollo Loco.

  • Property Class: Commercial Sale
  • Listing Status: Active
  • City: Granada Hills
  • State: CA
  • Zip: 91344
  • Area: GH - Granada Hills
  • County: Los Angeles
  • Class: Commercial
  • Property Subtype: Retail
  • Stories: 2
  • Baths (F/H): -- / --
  • Baths Partial: 0
  • Living Area (SqFt): 43,017 sqft
  • Lot Sq Ft Apx: 79118.00
  • Year Built: 1962
  • Listing#: DW18199130
  • Parcel Number: 2695001012
  • List Date: 8/15/2018
  • Last updated on: 3/22/2019

Property Features for 17020 Chatsworth Street, Granada Hills CA 91344

  • Heating: Forced Air
  • Year Built: 1962
  • Zoning: C 1- 1VL
  • Lot Desc: Corner Lot, Level With Street, Paved

Additional Information for 17020 Chatsworth Street, Granada Hills CA 91344

  • Development Status: Existing
  • Expenses: 255594.00
  • Gross Building Area: 43017.00
  • Net Income: 565938.00
Courtesy of Chris Comfort, Apex Properties
Copyright 2019, California Regional Multiple Listing Service, Inc.. All Rights Reserved.
Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.