3755 Beverly Blvd, Los Angeles, CA 90004

Property 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. 3755 N Beverly lies at the intersection of Koreatown, Virgil Village, Historic Filipinotown, East Hollywood, and Silverlake. The immediate neighborhood is going through a rapid transition with a number of multi-family residential and commercial developments recently completed or under construction. A 68 unit project is under construction a couple blocks north on Oakwood Ave. To the south, a 490 unit mixed use project is planned. A 121 unit project was just completed on Mariposa and3rd Street. The location is within walking distance of the Beverly/Vermont Metro and in close proximity to trendy Los Feliz and Silverlake Nearby food and culture amenities include immensely popular Sqirl, Cafecito Organico, The Dog Caf, and Gabba Gallery.