Two Office/Retail Buildings For Sale in West Hollywood, CA Value Add Opportunity & Santa Monica Boulevard 8229 8235 West Hollywood, CA 90046 WESTMAC Commercial Brokerage Company | 1515 S. Sepulveda Blvd., Los Angeles, CA 90025 | www.westmac.com | Company DRE: 01096973 & Santa Monica Boulevard 8229 8235 West Hollywood, CA 90046 Exclusive Listing by: CHRISTIAN C. HOLLAND T.C. MACKER, CCIM Managing Director President 310.966.4350 310.966.4352 [email protected] [email protected] DRE # 00942434 DRE # 01232033 WESTMAC COMMERCIAL BROKERAGE COMPANY 1515 S. Sepulveda Boulevard, Los Angeles, CA 90025 Company DRE# 01096973 www.westmac.com ©2021 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission. 2 Santa Monica Boulevard 3 Offering Summary Two (2) Separate Multi-Tenant Office/Retail Buildings For Sale in Spectacular West Hollywood Location. Value Add Opportunity. The Opportunity 8229 Santa Monica Boulevard and 8235 Santa Monica Boulevard are two (2) office/retail buildings for sale in West Hollywood, CA. The combined square footage for both properties is approximately 21,906 square feet (per tax record). The total lot size for both properties is approximately 17,615 square feet. Asking Price 8229 Santa Monica Boulevard and 8235 Santa Monica Boulevard are two (2) separate buildings being sold together. Asking price is $13,400,000 ($612/SF). Due Diligence Access Interested parties can access rent roll, leases, and all other due diligence information by going to www.8229and8235SantaMonica.com. Touring & Questions Please contact Chris Holland or T.C. Macker with any additional questions. Tours allowed with serious offers only. 4 Offering Highlights • Unique and hard to find retail and office building complex available for sale in prime West Hollywood. • Potential Owner/User availability. 8229 Santa Monica currently has two (2) available suites. 8235 Santa Monica has over 50% of its existing tenant base on a month-to-month basis with remaining leases expiring by the end of 2022. • Value Add Opportunity. Tremendous upside, as existing rents are under market. This presents a great opportunity for an investor seeking upside potential through lease-up of the vacant spaces and bringing below rents up to market, or for an owner user looking for a headquarters. • 8235 Santa Monica Boulevard is well positioned at the corner of Santa Monica Boulevard and Harper Avenue. Both properties are located on the north side of the street between Harper Avenue and Havenhurst Avenue. The intersection at Santa Monica Boulevard and Havenhurst Avenue has an estimated traffic volume is reportedly well-over 50K vehicles per day. • Numerous dense residential neighborhoods generate significant demand for area retailers and services. The area is surrounded by an upscale community, populated by a high-earning demographic with a median household income reported at over $89,000 within a 1-mile radius of the subject properties. • There is an array of amenities located up and down Santa Monica Boulevard. Trendy retailers and restaurants cater to community residents, neighborhood workforce, and tourists from around the world. Destination retailers within walking distance include Whole Foods, Trader Joe’s, Starbucks, and many more. • West Hollywood is one of the most high-profile locations and top-performing submarkets in the Los Angeles metro. Correspondingly, asking rates in the submarket are among the priciest in the metro. 5 8229 Santa Monica Boulevard 6 Property Overview Address 8229 Santa Monica Blvd., West Hollywood, CA 90046 Norton Avenue APN 5554-015-015 Building Size ± 3,584 SF (per tax record) Land Size ± 7,789 square feet (150’ x 50’ dimensions) Built 2000 “ Zoning CC1 (Commercial Community 1) 15 13 Harper Avenue Havenhurst Avenue Current Use Office & Retail “ 150 Frontage 50’ along Santa Monica Boulevard 50 North Parking Forty-Seven (47) spaces plus one (1) handicap (parking lot is used by both buildings) Santa Monica Boulevard North Santa Monica Boulevard 7 8 9 8235 Santa Monica Boulevard 10 Property Overview Address 8235 Santa Monica Blvd., West Hollywood, CA 90046 Norton Avenue APN 5554-015-016 Building Size ± 18,322 SF (per tax record) Land Size ± 9,826 square feet (150’ x 65’ dimensions) Built 1961 “ Zoning CC1 (Commercial Community 1) 16 “ 150 14 Current Use Office Harper Avenue Havenhurst Avenue Frontage 65’ along Santa Monica Boulevard; 150’ along Harper Avenue 65 North Parking Forty-Seven (47) spaces plus one (1) handicap (parking lot is used by both buildings) Santa Monica Boulevard North Santa Monica Boulevard 11 12 EARTHWALK PARK LOCATED DIRECTLY ACROSS THE STREET 13 14 15 Dozens of popular shops and restaurants line Santa Monica 8235 Santa Monica Boulevard Boulevard, a major West Hollywood Boulevard with a vibrant scene for dining, shopping, and nightlife. 8229 Santa Monica Boulevard Walk Score 94 Santa Monica Boulevard Walker’s Paradise 16 North Area Amenities 8229 Santa Monica Boulevard Building Features 17 8229 & 8235 Santa Monica Boulevard 1-3-5 Mile Demographics Radius from Subject Property Population 1-Mile 3-Mile 5-Mile Encino 2021 Population 47,211 272,130 837,472 Households 1-Mile 3-Mile 5-Mile 2021 Total Households 28,681 140,442 364,276 2021 Average HH Income $118,155 $119,588 $105,760 2021 Median HH Income $89,549 $87,279 $72,275 Business 1-Mile 3-Mile 5-Mile Total Businesses 4,074 31,155 65,490 Number of Employees 32,182 252,417 627,851 18 Burbank North Location Map Valley Village Encino Sherman Oaks Toluca Lake Studio City Glendale Griffith Park Eagle Rock Highland Park Los Feliz Hollywood Subject Properties Silver Lake West Hollywood Lincoln Heights Beverly Hills Miracle Mile Koreatown Chinatown Westwood Brentwood Century City West Los Angeles Mid City Distance from Downtown Los Angeles 8229 & 8235 Santa Monica Boulevard Culver City 9 MILES University Park Mar Vista Leimert Park Vernon Santa Monica Distance from 8229 & 8235 Santa Monica Boulevard Ladera Heights Venice 12 MILES South Los Angeles Huntington Park Marina Del Rey 19 The Sunset Strip City of West Hollywood West Hollywood is a sprawling metropolis in the heart of Los Angeles, California. This vibrant city is densely packed into 1.9 square miles of creative activity, the ultimate playground filled with hot hotels, rooftop pools, cool restaurants, trendy shops, popular nightlife, and so much more! West Hollywood is one of California’s most walkable cities. Streets are packed with boutiques, galleries, and the best eateries. Not to mention some of the most famous tourist spots in the world like the famous Sunset Strip, eclectic Santa Monica Boulevard, and the Avenues of Art and Design along Robertson Boulevard, Melrose Avenue, and Beverly Boulevard. Chateau Marmont ± 37,366 $108,003 ± 25,321 61.92% TOTAL POPULATION AVERAGE HOUSEHOLD TOTAL HOUSEHOLDS LEVEL OF EDUCATION Source: Applied Geographic Solutions, 2020 INCOME BACHELORS & UP 20 The Roxy Santa Monica Boulevard West Hollywood’s 3 Distinct Enclaves West Hollywood is at the cultural and geographical heart of the Los Angeles region, The Sunset Strip surrounded by must-see hot spots in every direction. West Hollywood is bounded by A world-famous cultural landmark setting trends in the City of Beverly Hills on the west, and by neighborhoods of the City of Los Angeles: music, hotels, dining, and shopping. Hot spots include: Hollywood Hills on the north, Hollywood on the east, the Fairfax District on the The Roxy, Whiskey-a-Go-Go, The Comedy Store, Viper southeast, and Beverly Grove on the southwest. Room, & Chateau Marmont. West Hollywood benefits from a very dense, compact urban form with small lots, mixed Santa Monica Boulevard land use, and a walkable street grid. Commercial corridors include the nightlife and This eclectic thoroughfare takes on various personas, dining focused on the Sunset Strip, along Santa Monica Boulevard, and the Avenues of nowhere as fun, diverse or pedestrian-friendly than Art and Design along Robertson, Melrose, and Beverly Boulevard. along the 2.9 mile stretch that runs from La Brea Avenue on the east to Doheny Drive on the west. Chateau Marmont Hot spots include: The Abbey, Barney’s Beanery, Hamburger Mary’s, Troubadour, Dan Tana’s, and Pump Restaurant. SUNSET BOULEVARD SANTA MONICA BLVD Design District North The epic center of high-caliber design, fashion, art, dining & beauty located at the intersections of Melrose Avenue, Beverly Boulevard, and Robertson Boulevard. Hot spots include: Christian Louboutin, Moschino, MELROSE ROBERTSON Pacific Design Center, & The Peppermint Club. BEVERLY 21 The Pacific Design Center DISCLAIMER This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company or by the Seller. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them. 22 & Santa Monica Boulevard 8229 8235 West Hollywood, CA 90046 For more information contact: Christian C. Holland T.C. Macker, CCIM Managing Director President 310.966.4350 310.966.4352 WESTMAC Commercial Brokerage Company [email protected] [email protected] 1515 S.