3755 Beverly Blvd. | 311 N. Juanita Ave. | 315 N. Juanita Ave., Los Angeles, CA 90004
Description
The subject property is an existing Office building on 24,000 SF of land. Preliminary analysis suggests up to 110 Apartment Units can be built with a ground floor retail component. 3755 Beverly is a rare site where a developer can build without having to relocate any existing residential tenants, which is a cost savings, and a new project would not be subject to SB 330 which would make the project subject to rent control if existing residential units were on site. The Buyer of 3755 Beverly may be able to utilize tax advantages due to the building’s location in a Qualified Opportunity Zone. 3755 Beverly is located near various employment centers and as its location is near the 110 Freeway gives easy access to Downtown LA, Hollywood, and the San Fernando Valley.
Property Features:
Sale Price: $7,900,000
APN: 5501-001-008, 5501-001-007, 5501-001-006
Land Size: Approx. 24,000 SF
Development Potential: +/-110 Units, +/- 7,000 SF Commercial
Current Use: 14,000 SF Medical/Office Building. Seller has approval from the city to convert +/- 7,000 SF of indoor parking into office. This would make RBA closer to 21,000 SF.
Zoning: C2-1 (3755 Beverly Blvd), (Q)CM-1 (311-315 N Juanita)
Specific Plan: Vermont/Western Station Neighborhood Specific Plan, SNAP C
Opportunity Zone: Yes
Density Bonus: TOC Tier 4
Existing Leases: Per the Seller, all leases have a demolition clause, or are short term
Current Income: +/-$37,000/month Gross per Seller
Other Info: The existing buildings are all commercial. No need to Ellis Act existing tenants or make ‘Cash for Keys’ payments to build. The project would be exempt from SB 330.
Address
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Address 3755 Beverly Blvd, Los Angeles, CA 90004, USA
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Country United States
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Postal code/ZIP 90004
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Contact
Jeremy Shore
Property Agent
Jeremy Shore is an experienced professional with over 10 years of working across all aspects of commercial real estate brokerage, management and investment. Since joining Maher Commercial Realty in 2018, Mr. Shore has completed over $70,000,000 in transaction volume, between signed leases and closed sales. On the sales front, Mr. Shore is arranging development, investment, and owner-user transactions across retail, industrial, multifamily, and office product types in the greater Los Angeles area. Mr. Shore dives deep into properties he analyses to find the 'highest and best use' to maximize revenue and valuation for his clients, which include prominent family offices and institutional investment firms. On the leasing side of the business, Mr. Shore has represented owners and tenants of food and beverage spaces, industrial warehouses, general retail and office space. With deep contract knowledge and careful diligence, Mr. Shore strives to complete transactions where at the end of the day, both landlord and tenant are satisfied and can look forward to the start of a years' long relationship. Mr. Shore enjoys the feeling of shaping a neighborhood and providing a home for entrepreneurs to flourish. Mr. Shore takes pride in having a role in improving the communities in which he operates, whether by adding housing to combat Los Angeles' affordability crisis or making a neighborhood more desirable by placing a cafe which becomes a gathering place for locals. In his spare time, Mr. Shore enjoys staying active with cycling, tennis, skiing, and hiking with his wife and dog. BRE#02020539