8619-8621 Wilshire Boulevard, Beverly Hills

$15,000,000

Beverly Hills, CA

Property Type

Retail

Size

7,200 SQ FT.

Year Built

1948

Type of Sale

Referee Sale Subject to Court Confirmation

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.

Contact Broker Offering Memorandum

 

 

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