8344 Beverly Blvd Los Angeles, CA 90048

We are pleased to present the opportunity to acquire 8344-8348 Beverly Boulevard (the second APN: 5511-010-023), a two-story retail and office building located in Los Angeles's premium Beverly Grove neighborhood, an epicenter for dining, shopping, and retail amenities. The property is blocks from the world-renowned Beverly Center, Cedars-Sinai Medical Center, The Grove and Original Farmers Market. 8344-8348 Beverly Boulevard is a storefront retail building providing its tenants with approximately 5,951 rentable square feet on a 5,993 square foot lot. The property is currently occupied by two tenants, both of which are operating on below market leases. The first tenant is King's Road Beads, which is a jewelry store on a lease expiring on December 18, 2022, and the second tenant, Design in Retail is a furniture/design business that is operating on a lease that expired April 30,2021 and is now operating month to month. The current tenants are both paying below market rates, and there is a strong chance for an owner user to occupy one if not both spaces in the building. The property is zoned LAC2-1VL-0 with Transit Oriented Communities (TOC) Tier2 overlay eligibility. There is significant development in the immediate area with thousands of new residential units that creates additional density which should result in rent appreciation in this prime location. The property offers excellent frontage along Beverly Boulevard, which gives users and tenants ideal visibility and creates a unique signage opportunity along one of the most highly traveled boulevards in the city. The daily traffic count is over 48,000 cars per day. The property is well located in the Beverly Grove neighborhood of Los Angeles, iconic for its vast amount of national and regional retail, entertainment, and luxury amenities, including the world-renowned Beverly Center, The Grove, and Melrose Avenue Shopping District. This prime location also benefits from the dense, high-earning demographic that resides in the area, and offers easy access to the highly affluent neighborhoods of Beverly Hills, West Hollywood, Century City and Westwood.