8619-8621 Wilshire Blvd | 8619-8621 Wilshire Blvd
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8619-8621 Wilshire Blvd 8619-8621 Wilshire Blvd
6,750 SF Retail Building Beverly Hills, CA 90211 £10,574,550 (£1,567/SF) 1.20% Net Initial Yield
Investment Highlights
- Rare development opportunity in the heart of Beverly Hills
- Property may qualify for the City of Beverly Hills Medical Conversion Use Ordinance 22-0-2864, providing value to medical professionals
- Situated on an expansive 11,581 SF lot spanning two parcels
- BHC3 zoned site with potential to develop up to 42 residential units (utilizing a 100% density bonus) and ground level commercial space
- Ability to operate as an owner-user, investor, or make strategic improvements to capitalize on premium rental rates
Executive Summary
Call David Weinberger for More Information: 818.970.0915.
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.
Call David for more information - 818.970.0915. Site Assessment Summary can be found in Offering Memorandum: wilshire-blvd.com
Sale is subject to Court Confirmation and may be subject to overbid.
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.
Call David for more information - 818.970.0915. Site Assessment Summary can be found in Offering Memorandum: wilshire-blvd.com
Sale is subject to Court Confirmation and may be subject to overbid.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,750 SF
Building Class
C
Year Built
1948
Price
£10,574,550
Price Per SF
£1,567
Net Initial Yield
1.20%
NOI
£126,895
Tenancy
Multiple
Number of Floors
2
Building FAR
0.58
Lot Size
0.27 AC
Zoning
BHC3 - General Commercial
Parking
14 Spaces (2.07 Spaces per 1,000 SF Leased)
Frontage
1 ft on Wilshire Blvd
Amenities
- Bus Route
- Signage
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (74)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £2,066,939 (2024) | |
| Land Assessment | £1,573,583 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £493,356 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£1,573,583 (2024)
Improvements Assessment
£493,356 (2024)
Total Assessment
£2,066,939 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
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8619-8621 Wilshire Blvd | 8619-8621 Wilshire Blvd
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