For Sale
$2,600,000

3251 Beverly BlvdLos Angeles, CA 90057

Prime LA location, high NOI, redevelopment potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Los Angeles retail property, located at 3251 Beverly Boulevard, presents a compelling investment opportunity. The 5,251 square foot building, constructed in 1980, sits on a 11,132 square foot lot zoned C2, offering significant redevelopment potential. Currently operating at 100% occupancy with a strong pro-forma NOI of $185,508 and a 7.13% pro-forma cap rate, the property features a fully equipped restaurant and a coin laundry facility, both currently leased under a triple net (NNN) lease with a remaining term of approximately 2.1 years (expiring 12/31/2026). The asking price is $2,600,000, translating to $495.14 per square foot. The single-tenant building boasts 13 parking spaces and benefits from a convenient location with a bus stop directly in front, ensuring easy access for customers. The property's C2 zoning allows for the construction of 27 units as of right, with the potential to build up to 41 units utilizing the TOC density bonus. This presents a unique opportunity for immediate income generation and long-term value appreciation through redevelopment. The property includes three units and is situated in Los Angeles County, CA, zip code 90057.

Highlights

  • High-profile corner location at Hoover and Beverly.
  • Existing coin laundry with all equipment included.
  • Turnkey restaurant with full kitchen equipment.
  • Convenient location with a bus stop directly in front.
  • Excellent access to Downtown LA and Beverly Hills.
  • 11,132 SF lot, C2 zoned, TOC Tier 1; redevelopment potential.

Property Details for 3251 Beverly Blvd

Property type
Retail properties, Restaurants
Square Feet
5,251 SF
Year Built
1980
Buildings
1
Stories
1
Units
3

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0730233
Longitude
-118.2840524
3251 Beverly Blvd, Los Angeles, California

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3251 Beverly Blvd
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