Skip to main content

Mixed-Use

6432 Santa Monica Blvd

6432 Santa Monica Blvd, Los Angeles, CA 90038

Listing Price: $14,000,000

Cap Rate
2.53%
Number of Suites
10
Gross SF
32,500
Rentable SF
32,500
Price/Gross SF
$430.77
Lot Size
0.52 acres
Year Built
1951

Investment Overview

Marcus & Millichap has been selected to exclusively market 6432 Santa Monica Boulevard, a 32,500 square foot mixed-use retail, studio and creative office property ideally located on the southwest signalized corner of Santa Monica Boulevard and Cole Avenue in the heart of Hollywood, CA. 6432 Santa Monica Boulevard is ideally positioned in the heart of the Hollywood, CA sub-market, ideally suited for creative workspace, studio and production space, and retail. The property is situated on a 22,691 square-foot lot zoned LAMR1 with gated parking offering 30 striped surface parking spaces, a parking ratio of 1.08 per 1,000 square feet. This 1951 construction building has been well maintained, including plenty of natural light from large windows along three sides and skylights throughout, high ceilings, and beautiful hardwood floors. The property is ideally located in a walker’ s paradise, with a walk score of 95, and benefits from excellent visibility and frontage along both Santa Monica Boulevard and Cole Avenue. This multi-tenant complex is currently 100% occupied by a variety of retail, studio and creative office tenants catering to it’s central Hollywood location, including large rentable studio space, creative management, casting, production equipment rentals, photography studios, and more. Lease terms are staggered, with approximately 70% of the gross leasable area expiring within the next three years. This opportunity offers an investor a unique opportunity to acquire a fully stabilized asset at a low cost-per-foot with tremendous future upside through increasing rents over time as leases roll. There is a total of approximately 17,500 square feet of ground floor retail space and 15,000 square feet of second story office space. Current rents average $1.11 per square foot, with ground floor retail rents averaging $1.14 per SF, and second story office rents averaging $1.08 per square foot. 6432 Santa Monica Boulevard is situated within the Hollywood Media District as well as a State Enterprise Zone, and surrounded by a variety of production companies and studios including Paramount Studios, Red Studios, MILK, Television Center, Line 204 Studios, BLT Studios, and many more. Hollywood is experiencing explosive growth, with multiple large-scale developments underway or in-planning for multifamily, retail, office and hospitality projects. There are over 5,332 residential units currently in development in the immediate sub-market.

Investment Highlights

  • Prime Hollywood, CA Signalized Corner Location
  • SW signalized corner of Santa Monica Boulevard and Cole Avenue
  • Just minutes from Paramount Pictures, Sunset Gower Studios, and a host of other Studios

Exclusively Listed By

Financing By

Mixed-Use

6432 Santa Monica Blvd

Listing Price: $14,000,000

Cap Rate
2.53%
Number of Suites
10
Gross SF
32,500
Rentable SF
32,500
Price/Gross SF
$430.77
Lot Size
0.52 acres
Year Built
1951

Investment Highlights

  • Prime Hollywood, CA Signalized Corner Location
  • SW signalized corner of Santa Monica Boulevard and Cole Avenue
  • Just minutes from Paramount Pictures, Sunset Gower Studios, and a host of other Studios

Investment Overview

Marcus & Millichap has been selected to exclusively market 6432 Santa Monica Boulevard, a 32,500 square foot mixed-use retail, studio and creative office property ideally located on the southwest signalized corner of Santa Monica Boulevard and Cole Avenue in the heart of Hollywood, CA. 6432 Santa Monica Boulevard is ideally positioned in the heart of the Hollywood, CA sub-market, ideally suited for creative workspace, studio and production space, and retail. The property is situated on a 22,691 square-foot lot zoned LAMR1 with gated parking offering 30 striped surface parking spaces, a parking ratio of 1.08 per 1,000 square feet. This 1951 construction building has been well maintained, including plenty of natural light from large windows along three sides and skylights throughout, high ceilings, and beautiful hardwood floors. The property is ideally located in a walker’ s paradise, with a walk score of 95, and benefits from excellent visibility and frontage along both Santa Monica Boulevard and Cole Avenue. This multi-tenant complex is currently 100% occupied by a variety of retail, studio and creative office tenants catering to it’s central Hollywood location, including large rentable studio space, creative management, casting, production equipment rentals, photography studios, and more. Lease terms are staggered, with approximately 70% of the gross leasable area expiring within the next three years. This opportunity offers an investor a unique opportunity to acquire a fully stabilized asset at a low cost-per-foot with tremendous future upside through increasing rents over time as leases roll. There is a total of approximately 17,500 square feet of ground floor retail space and 15,000 square feet of second story office space. Current rents average $1.11 per square foot, with ground floor retail rents averaging $1.14 per SF, and second story office rents averaging $1.08 per square foot. 6432 Santa Monica Boulevard is situated within the Hollywood Media District as well as a State Enterprise Zone, and surrounded by a variety of production companies and studios including Paramount Studios, Red Studios, MILK, Television Center, Line 204 Studios, BLT Studios, and many more. Hollywood is experiencing explosive growth, with multiple large-scale developments underway or in-planning for multifamily, retail, office and hospitality projects. There are over 5,332 residential units currently in development in the immediate sub-market.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower