MEDICAL OFFICE BUILDING IN THE SAN FERNANDO VALLEY
Updated: May 20
NON PERFORMING NOTE SALE FOR A MEDICAL OFFICE BUILDING & IT IS DISCOUNTED $280K..... THIS IS A CLASS B DEFAULTED MEDICAL OFFICE BUILDING IN THE SAN FERNANDO VALLEY.
DISCOUNTED CALIFORNIA NON PERFORMING COMMERCIAL NOTE IN THE LOS ANGELES SUBURBS
NICELY DISCOUNTED L.A. OFFICE BUILDING, FIRM PRICE PER THE LENDER AT $4,550,000 (UPB) + 5% BUYER PAID COMMISSION (LENDER IS NOT PAYING ANY REAL ESTATE COMMISSION) - NON PERFORMING NOTE SALE - Defaulted Class B Medical Office Building in Great Location of the San Fernando Valley
DISCOUNTED OVER $280,000
Once the PSA is executed, close of escrow to be within 10 calendar days 27,000+ SF Class B Medical Office Building Located on Ventura Blvd in Tarzana 35,867 SF Lot 3 Stories Built 1962 163 Surface Parking Spaces
Major disclosure: Before this became a non performing note (NPN) this was listed by CBRE..........This is now an NPN not a CBRE listing
*********** PROPERTY DETAILS Subject is located on busy Ventura Blvd with excellent street presence and average regional and local access. Property is in walking distance to many retail amenities with Whole Foods right nearby and is located 1/4 mile from a regional hospital center.
The HVAC system, restrooms, common areas of the building, and the interiors of the medical office suites were recently renovated.
Cross Streets Ventura and Burbank Blvd
Great 85 Walk Score Neighborhood
Bus-lines Available Area
Easy Access to 101 Freeway
************ PROPERTY INCOME DETAILS 23 Office Suites Currently 4 Vacant Suites 82% Occupancy Monthly Income $66,098 Potential Income $78,741
************ NOTE DETAIL Original Loan Amount $4,550,000 at 4.5% Original Loan Matured April 2017 Borrower given several extensions and rate increased to 7% Final extension due date was March 3, 2020 Default Rate now applied is 12% CURRENT UNPAID BALANCE WAS $4,834,321 LENDER DISCOUNTED PRICE NOW
Purchase Price: $4,550,000
plus buyer pays 5% real estate commission THIS PORTFOLIO SALE IS OFF THE MARKET MUST STAY OFF THE MARKET, PLEASE DO NOT LET THIS PORTFOLIO GO VIRAL
DEAR BUYER, THIS IS AN OFF THE MARKET (NOW) AND THIS IS A PRE-DUE DILIGENCE PACKAGE AND NOT A FORMAL DUE DILIGENCE PACKAGE. PLEASE NOTE: THE SELLER MAY HAVE PROVIDED HISTORICAL FINANCIALS UPFRONT. THE SELLER "IS NOT" ASKING THE POTENTIAL BUYER TO PROVIDE A PSA AND ESCROW DEPOSIT UPON THE RECEIPT OF THIS OFFERING MEMORANDUM, JUST AN LOI SHOWING THE BUYER'S INTEREST, BUYER'S INVESTMENT BIO, BUYER SIGNED MASTER FEE AGREEMENT AND THE FACT THAT THE BUYER IS FINANCIALLY CAPABLE. GIVEN THAT IF THE BUYER CHOOSES TO DO THE PREVIOUS PROTOCOL AND PROOF UP ATTORNEY TO ATTORNEY, THAT IS THE BUYER'S OPTION. ONCE PROOFED UP, THE SELLER WILL PROVIDE SOME OF THE UPDATED AND THEN THE SELLER WILL PROVIDE ABSOLUTELY EVERYTHING IN FORMAL DUE DILIGENCE. BUYER & SELLER PARTICIPATION MUST BE A TWO STREET. TO MOVE FORWARD, THE BUYER AND OR THE SELLER TO SIGN THE ASSET SPECIFIC MASTER FEE AGREEMENT (DEPENDING ON THE EXECUTED PURCHASE PRICE), THE BUYER TO PROVIDE AN ASSET SPECIFIC LETTER OF INTENT TO INCLUDE THE PURCHASE PRICE, DUE DILIGENCE PERIOD, CLOSE OF ESCROW OF DATE AND THE AMOUNT OF THE EARNEST MONEY DEPOSIT THAT WILL BE ESCROWED ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT. THE BUYER TO PROVIDE A BUYER'S COMMERCIAL BIO OF COMMERCIAL ASSET HELD IN THEIR INVESTMENT PORTFOLIO. THE BUYER TO PROVIDE A BUYER'S VERIFIABLE PROOF OF FUNDS IN THE FORM OF A BANK OR FUND STATEMENT OF ACCOUNT.
PLEASE NO TRANSACTIONAL FUNDING
OM and details <<<---Click Here!