Description

Opportunity to purchase 7815-7817 Melrose Avenue, Los Angeles, California. Built in 1982 and renovated in 2000, the Property offers 43 feet of Frontage on the World-famous Melrose Avenue, near the intersection with Fairfax Avenue. With a combined car count of over 127,000 vehicles per day, this Offering presents an incredible acquisition opportunity on one of Los Angeles’ most coveted retail corridors. 7815-7817 Melrose Avenue is a Two-story Building with Approximately 7,750 Sf of Ground-floor Retail and Second-floor Office, an excellent Opportunity for an Owner/User or Investor in one of California’s most Premium Urban Markets. The spaces are ideally sized, appealing to a variety of tenant types and uses. The current tenants are on Month-to-Month leases with under-market rents, offering the investor an immediate upside by leasing the units at market rents in one of the highest barrier-to-entry markets in California. Rated “Walker’s Paradise” by CoStar with a Walk Score of 95, the property is located within distance to major attractions such as The Grove, Beverly Center, Sunset Strip, Beverly Hills, Rodeo Drive, Cedars-Sinai, and is surrounded by multiple dining and shopping options that Melrose has to offer: Urth Caffe Melrose, Zinqu, Alfred Coffee, Catch LA, Adidas, Reformation, Paul Smith, Vivienne Westwood, Gucci, among many others. Melrose Avenue is one of L.A.’s most famous streets, featuring a myriad of shopping, dining and entertainment destinations. All about”strolling and shopping”, the street begins at Santa Monica Boulevard where the cities of Beverly Hills and West Hollywood meet, boasting one of the highest foot traffic areas in the city of Los Angeles is the most populous city the state of California. It is the Entertainment capital of the world, a cultural mecca boasting more than 100 museums, a global hub of the Fashion industry, and a paradise of idyllic weather.