813-815 N La Brea, Los Angeles

Description:

We are pleased to present a two-tenant commercial property in Los Angeles (Hollywood), California, which includes a landmark Psychic store and Plyo Fitness Gym.  Plyo Fitness is a private gym with special emphasis on personal training. While Plyo Fitness is a Sublesee paying a higher rent to the Sublessor, both tenants have expressed interest in continuing to stay and operate their businesses from this location. There are built in opportunities for short-term upside by simply taking the place of the Sublessor and seeing a near immediate upside while still keeping the tenants’ rents at a sustainable level.  Alternatively, there is also an owner-user opportunity given the short-term horizon of the existing leases.

The location of the property is in the heart of Hollywood on North La Brea Avenue between Melrose and Santa Monica Boulevard.  The traffic count per a MPSI 2018 study registered at 59,600 vehicles per day.   According to 2021 Census Data, there are nearly 1-million people in the surrounding 5-mile radius and an average income of over $94,000 per year. 

The building measures 4,434± square feet and is situated on a 5,250± square feet lot.  There are two additional mezzanine floors in the gym area adding an extra 1,900± square feet to the overall area.  The building was built for an industrial purpose with large dome vaulted ceiling with 20’ clearance span and an expansive industrial look and feel.   

Whether you are an investor or owner-user this building and the circumstances surrounding the tenants present a unique opportunity for investors of all stripes.





Two-Tenant Commercial Property in the Heart of Hollywood
Landmark N. La Break Location Between Melrose & Santa Monica
An Iconic Psychic Tenant & Plyo Fitness Gym
Internet Resistant Tenants with Good Track Record
Built In Upside Through Lease Renewals and Sublessor Expiration
Owner-User Opportunity by Q1 of 2023
59,000+ Traffic Count, 1-Million People, $94K+ Household Income

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