Recent bank owned industrial units

Here are examples of small industrial units that were recently taken back by their lenders. They show exceptional value for either an owner/user or an investor looking to acquire small industrial units.

This photo is of 2 adjacent condo units on Dupont Circle, Ventura. Each are about 1,200 square feet, have anĀ  office in front with warehouse in back. Currently, the front offices are open to each other but could easily be put back into individual offices. The opening bid for the pair at auction was $240,000 but there were no bidders so the units reverted back to the lender. Comparable units in the area have been selling for $170,000.

This free standing 1,800 square foot building last sold for almost $600,000. It is located off Ventura Avenue in Ventura. It would be a great facility for a small owner/user who needs some storage or work space (with office rooms and bath with shower), or an investor who could get a substantially higher rate of return than what a CD is paying! The minimum bid was $291,000, but the amount paid by the lender (as shown on the Trustee’s Deed) was $202,331.

Commercial, industrial, office, hospitality and other asset classes have reverted back to their respective lenders this year and provide the astute buyer opportunities to invest in a down market. Call me if you’re interested in opportunities like this.

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