5501 HOLLYWOOD BLVD Los Angeles CA 90028

• Rare Opportunity to Acquire a 3-Tenant Urban Retail Center in Prime East Hollywood – High quality urban retail centers featuring national credit anchors located within a dense, infill Southern California market are “few and far between” and continue to be amongst the most coveted real estate investment in today’s market.
• First Tier/High Credit Tenancy and Strong Store Sales – More than 38,000 SF of Gershwin Lofts (90%) is leased to publicly traded, national credit tenants. Strong reported store sales and recent tenant improvements indicate overall tenant stability and provide income security.
• Upside in Rents and Secure Cash Flow – With the current leases signed in 2014-2016, existing rents are estimated to be between 15-20% below today’s market rates. With strong store sales and low vacancy in the immediate area, the probability of option renewal is increased.
• Debt Free Asset – Gershwin Lofts will be delivered free and clear of debt, allowing investors to take advantage of new financing, providing a potential purchaser an opportunity to customize debt to achieve optimal returns.
• Institutional Quality Development – Built & remodeled in 2015 by a prominent Los Angeles based development company, the property is in first class condition with low near-term capital requirements projected.
• Intrinsic Land Value – The offering consists of 4 parcels totaling over +/-51,580 SF with zoning of LAR5 and LAC4– some of the highest density zoning designations available in Los Angeles. The proximity to the Hollywood/Western Metro Station, recent updates to the Vermont/Western Transit Oriented Distract Plan, and the implementation of the Transit Oriented Community Plan significantly improve long term re-development potential of The Gershwin Lofts Retail.
• Minimal Rent Deferral – Rent collections remained strong throughout the COVID-19 pandemic as each of the tenants’ businesses thrived and remained robust.

Excellent Los Angeles County Location with Strong Real Estate Fundamentals

• Ideal Mass Transit and Commuter Location – Situated catty-corner to the Hollywood/Western Metro Station, blocks from the 101 Freeway, nearby numerous media/tech offices, national retailers, and apartments, the asset benefits from high commuter and employment traffic.
• Residential and Commercial Proximity – Gershwin Lofts Retail is conveniently located in the heart of high density residential and commercial properties, enhancing daytime and evening foot traffic. The central location serves some of the most desirable surrounding trade areas including Hollywood, Los Feliz, Silver Lake, Echo Park, and Koreatown.
• Exceptional Southern California Demographics – The Gershwin Lofts Retail is ideally situated in the heart of a dense, infill trade area featuring over 68,605 residents and average household incomes exceeding $69,307 within a 1-mile radius and over 381,800 residents and average household incomes exceeding $87,375 within a 3-mile radius. Numerous tech and media corporate offices are in the immediate area.
• Convenient Regional and Local Location – The property is ideally situated less than ½ mile from the Hollywood (US 101) Freeway (over 209,000 cars per day) at the strategic intersection of Hollywood Boulevard and N. Western Avenue (over 65,000 cars per day) providing convenient regional and local accessibility.