FOR SALE - Owner/User Opportunity Across from Melrose Place

Highlights:

• Premium Location - The subject property is on La Cienega at the intersection of Melrose Place, an extremely high-end shopping destination. Shops include Gucci, Oscar de la Renta, BALMAIN, among many others. The area also features multiple high-end jewelry stores, furniture retailers, restaurants, medspas, and fitness studios.
• Central Location - Not only is the property located within a high-end shopping mecca, it is also less than three miles from Rodeo Drive. Close proximity to The Grove, The Beverly Center, Cedars Sinai Medical Center, and the Sunset Strip.
• High Rental Rates - The West Hollywood area continuously commands higher rental rates than the rest of Los Angeles. The average price per SF in the West Hollywood area is $4.77 compared to greater Los Angeles’s $3.46. In the immediate surrounding area of the subject property, rates can be as high as $7.50/SF. The current tenant is paying $4.80/SF.
• Excellent Visibility - The subject property is on a strategic sight line from Melrose Place. N La Cienega sees a traffic volume of over 30,000 cars per day in each direction.

Description:

WESTMAC Commercial Brokerage Company is thrilled to present an exclusive opportunity to acquire 651-653 N La Cienega Boulevard, an owner-user opportunity in the West Hollywood surrounds of Los Angeles, adjacent to Melrose Place. The +/-5,625 square foot building sits on +/-5,011 square feet of land and is currently leased to fashion brand Jonathan Simkhai, but will be delivered vacant. The subject property is located in the city of Los Angeles with LAC4-1VL zoning.

Built in 1967, the building has had a number of recent upgrades, including electrical, HVAC, roof, plumbing, restrooms, and the addition of a new facade. A private patio is at the rear of the building, and there is gated parking for three cars in the front. There is also a dedicated loading zone at the curb. The interior of the space offers a showroom, kitchenette, three restrooms, a fireplace, several offices and workspaces, and a conference room. Two open staircases connect the ground floor the the loft space.

The subject property is an excellent opportunity for an investor to own property in a highly sought-after neighborhood, where property value continues to grow. With the dual address, the property is easily divided, offering additional flexibility for an investor.

The prime location of 651-653 N La Cienega within this luxury neighborhood makes it a compelling prospect for acquiring a commercial property. Don’t miss out on this exciting opportunity to be part one of Los Angeles’s most valuable neighborhoods.

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