La Paz Plaza 2 Retail Properties Offered at $5,125,277 CAD in North Hollywood, CA

6724 Lankershim Boulevard is a 13,450-square-foot multi-tenant neighborhood retail center situated on a 26,998-square-foot parcel in North Hollywood, California. Comprised of nine suites, the Property provides investors with stable in-place income supported by a diversified service-oriented tenant base while offering multiple opportunities to increase future cash flow.
The Property benefits from an established tenant base with an average tenancy of approximately 9.84 years, reflecting long-term occupancy stability and predictable in-place income. Current average base rents of approximately $1.83 per square foot NNN remain below recent comparable lease transactions within the surrounding market, creating meaningful embedded rental upside as leases renew over time.
Additional value creation is supported by the lease-up of the existing 2,200-square-foot vacant suite, representing approximately 16% of the Property’s gross leasable area. An additional three tenants currently operating on a month-to-month basis provides future leasing flexibility, allowing new ownership to further optimize the rent roll as market conditions permit.
.Offered at approximately $275 per square foot, the Property may be acquired at a basis below replacement cost and below the average pricing achieved by comparable neighborhood retail transactions. Combined with stable in-place income, below-market rents, and clearly identifiable value-creation opportunities, the Property presents investors with an attractive opportunity to increase income through lease-up and future rental growth.