8621 Wilshire Blvd, Beverly Hills, CA

Retail for Sale - $13,500,000 - 7,200 Sq. Ft. on 0.27 acres


Agent Info

Seymour | Weinberger Real Estate Group
KW Commercial

Property Info

CIMLS#1162064
Location
  8621 Wilshire Blvd
  Beverly Hills CA 90211
UpdatedJuly 10th, 2024
TypeRetail
Price$13,500,000
Building7,200 Sq. Ft.
Land0.27 acres

Attached Documents


Property Description

The offering presents a rare opportunity to acquire 8619-8621 Wilshire Blvd. - An iconic two-story retail building, constructed in 1948, in the heart of the highly coveted Beverly Hills. The property offers five suites, totaling 7,200 SF, with 6,750 SF of RBA and 14 parking spaces on an expansive 11,581 SF lot spanning two parcels.

The offering presents investors and developers the opportunity to acquire one of the few development opportunities available for sale in Beverly Hills. The BHC3 zoned site presents a multitude of possibilities for the new owner, including the potential to develop up to 42 residential units (utilizing a 100% density bonus) along with a ground level commercial component. Providing the option to operate as an owner/user or investor, or the ability to make strategic improvements to capitalize on the premium rental rates synonymous with Beverly Hills.

Alternatively, the property may qualify for the City of Beverly Hills Medical Conversion Use Ordinance 22-0-2864, providing tremendous value to any medical professionals, including doctors and dentists.

Surrounded by a vibrant mix of commercial properties, single-family residences, restaurants, retail establishments, and medical offices, this location benefits from the robust infrastructure and high-earning residents that support businesses and new developments in Beverly Hills.

Site Assessment Summary can be found in Offering Memorandum: wilshire-blvd.com

Call David for more information - 818.970.0915.

The property is to be sold "AS IS" "WHERE IS" condition with all faults known and unknown with absolutely no representations or warranties expressed or implied by Seller to Buyer. Buyer to verify with appropriate entities and satisfy self. Sale is subject to Court Confirmation and may be subject to overbid.


Financials



Similar Listings