Search Results

8619-8621 Wilshire Blvd

Home » All Multifamily Properties » California & West » 8619-8621 Wilshire Blvd

Address: 8621 Wilshire Blvd, Beverly Hills, CA 90211, USA

California & West + Apartment Buildings

Created date: May 25, 2024

Date last updated: September 20, 2024

Rare development opportunity in the heart of Beverly Hills
BHC3 zoned site with potential to develop up to 42 residential units (utilizing a 100% density bonus) and ground level commercial space
Property may qualify for the City of Beverly Hills Medical Conversion Use Ordinance 22-0-2864, providing value to medical professionals
Ability to operate as an owner-user, investor, or make strategic improvements to capitalize on premium rental rates
High-end office interiors and 100% HVAC throughout
Situated on an expansive 11,581 SF lot spanning two parcels

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.Call David for more information - 818.970.0915.The property is to be sold "AS IS" "WHERE IS" 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.

Available

Request Information

Broker Details

David Weinberger

The Seymour | Weinberger Group 818.970.0915 MLS ID: C115165

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$13,500,000
No. of Units:	5
Average Occupancy:	1.2
Year Built:	1948
Lot Size:	7,200.00 Sq ft
Opportunity Zone:	No
Price per unit:	$2,700,000
Property Website	Click Here