PREMIER
OFFERING
AT THE INTERSECTION OF BEVERLY HILLS & WEST HOLLYWOOD

ADDRESS 8535 Colgate Ave
Los Angeles, CA 90048
OFFERING PRICE $4,350,000
NUMBER OF UNITS 6
YEAR BUILT 1960
GROSS SF ±7,614
LOT SIZE (SF) ±5,197
PRICE PER UNIT $725,000
PRICE PER SF $571.32
Current GRM / Market GRM 16.50 / 12.99
Current CAP / Market CAP 3.77% / 5.31%

Kidder Mathews is pleased to present 8535 Colgate Avenue, a condo-quality, boutique 6-unit multifamily investment or owner-user opportunity.

Located in one of the most desirable and exciting neighborhoods in Los Angeles, 8535 Colgate Avenue is a truly unique opportunity for an investor or owner-user to acquire a stunning, pride of ownership property located just off of Burton Way, across from 8500 Burton and Trader Joes, and behind the SLS Hotel.

The property offers a rare and ideal combination of having undergone extensive renovation and capital improvements, while still maintaining huge rental upside and unlocked value potential.

8535 Colgate is comprised of an ideal unit mix of four two-bedroom, two-bathroom units and two one-bedroom, one-bathroom units. Three of the units have been designer renovated and are fully furnished. No expense has been spared and no detail missed. From the Kelly Wearstler wallpaper to the custom-made furniture and right down to the place settings, everything has been done in style. What more could you ask for? Well, how about smart thermostats, mounted televisions, custom window treatments, closet built-ins that include jewelry drawers!

All the 6 units feature central heat and air, smart thermostats, and most include a private balcony or patio. There are so many things that set this boutique building apart including the fact that the apartments throughout the building have no shared walls. There are only two apartments per floor with a brand-new elevator that opens to private lobbies.

8535 Colgate is steps from Restaurant Row and the Beverly Center, the property is surrounded by an array of dining, entertainment, and nightlife options. The quality of the property and the immaculate location make this a one-of-a-kind opportunity.


SPACIOUS UNITS

Very large units with a mix of four (2) Bedroom / (2) Bathroom, two (1) Bedroom / (1) Bathroom with an average unit size of ±1,100 SF and ±700 SF respectively.

PRIME LOCATION

Excellent Beverly Grove location at the intersection of Beverly Hills and West Hollywood, steps from Burton Way.

CONDO-QUALITY ASSET

This beautiful property features excellent layouts with no shared walls, balconies/patios, and an elevator that leads to private lobbies.



PROPERTY HIGHLIGHTS

  • AAA Location
  • Condo-quality building
  • Very large units
  • True Pride of Ownership
  • Three remodeled units designer renovated and fully furnished
  • Ideal for owner-user or short-term executive rentals
  • Central heat and air conditioning
  • Only two apartments per floor and no shared walls
  • Upgraded elevator opens up to private lobbies
  • Seismic retrofitting completed
  • Walking distance to future Purple Line Metro at Wilshire/La Cienega

  • Three remodeled furnished units can achieve market rents, while two units are 50% below market and one is 70% below market
  • Extensive capital improvements to the exterior and common areas completed
  • Priced below replacement cost
  • Opportunity to capitalize on high-demand for luxury furnished rentals
  • Potential Assumable Financing (Inquire with Listing Agent)

Property Details

Furnished Apartment Unit Features

  • High-End kitchens and bathrooms
  • Private Balcony or Patio (most units)
  • Kelly Wearstler Wallpaper and Custom Designer Furniture
  • Solid White Oak Hardwood Floors
  • Smart Thermostats
  • Mounted Televisions
  • Custom Window Treatments
  • Closet Builts-In’s with Custom Jewelry Drawer
  • Stainless Steel Appliances
UNIT MIX Four (2) Bed / (2) Bath
Two (1) Bed / (1) Bath
APN 4334-016-040
ZONING LAR3
PARKING 8 spaces – 4 tandem, 4 single
UTILITIES Separately metered for gas & electric
EQ SEISMIC RETROFIT Completed

BEVERLY HILLS
WHERE DREAMS
ARE MADE

Location

Beverly Hills is clearly the most famous area in Los Angeles and perhaps all of Southern California. It is both a place (a stand-alone municipality within Los Angeles) and a symbol (the embodiment of the entertainment industry, fame, and wealth).

Generations have been introduced to the city through film cameos and music lyrics, from Irving Berlin’s “White Christmas” to the movie Pretty Woman. Even on of the city’s zip codes, 90210, is famous; it’s possibly the most recognizable in the world since the broadcast of the 90s television series bearing that numeric string in its name.

In the community just south of Wilshire Boulevard, grand mansions give way to single and multi-family homes, along with top notch boutiques and cafes.

275K+

2019 TOTAL
POPULATION

$159K

2024 AVG
PROJECTED INCOME

0.41%

2019-2024
PROJECTED GROWTH

WEST HOLLYWOOD
IS THE CULTURAL & GEOGRAPHICAL HEART OF LOS ANGELES

Located in the heart of metropolitan Los Angeles, at 1.9 square miles, West Hollywood is a robust economic and cultural center instilled with idealism and creativity. West Hollywood shares boundaries with the cities of Beverly Hills and Los Angeles. West Hollywood has a Council- Manager form of government with five elected members of the City Council. Law enforcement is provided by the Los Angeles County Sheriff’s Department and fire protection is provided by the Los Angeles County Fire Department.

The City of West Hollywood is filled with rich history. People from all over the globe visit West Hollywood for its iconic destinations such as The Sunset Strip for its unparalleled historical connection to music, entertainment, architecture, fashion, and culture-making; for Santa Monica Boulevard’s historic LGBT destinations and entertainment establishments; and for the Design District’s shopping, galleries, and restaurants.

Source: weho.org

NEARBY RESTAURANTS

  • Matsuhisa
  • The Little Door
  • AOC
  • Joan’s on Third
  • Catch LA
  • Republique
  • Nic’s on Beverly

Beverly Hills Walkscore

93

WALK SCORE
“WALKER’S PARADISE”

65

TRANSIT SCORE
“GOOD TRANSIT”

79

BIKE SCORE
“VERY BIKEABLE”

THE BAZAAR BY JOSÉ ANDRÉS

Inside the sexy SLS Hotel, the Bazaar by José Andrés is a carnival of food and drink offerings that are as whimsical and sleek as the Philippe Starck–designed space. Grab a drink—expect martinis with olive foam and “salt air” margaritas—at the swanky Bar Centro or on the terrace, where guests can sip on single-malt Scotch and enjoy a stogie from the cigar selection. Of course, the real star is the Spanish chef’s modern cooking: Indulge in an intimate chef’s tasting menu inside the hidden dining room, Somni, or share small-plate tapas such as the signature “Philly cheesesteak”—made with seared wagyu beef atop “air bread—or uni and avocado buns, or the foamy, reimagined Spanish tortilla. If you’re in need of some retail therapy, stop into the Bazaar’s Patisserie for grown-up confectionary, or the Regalo for jewelry, cookbooks or the chef’s own line of imported pantry goods.



POINTS OF INTEREST

THE GROVE

The Grove seamlessly fuses high-end retail with a heartwarming sense of community. It’s a place where people spend whole days shopping, dining and connecting with loved ones while strolling by the dancing fountain and soaking up the energy around them.

And through it all runs an iconic trolley, an attraction that not only delights guests, but also connects The Grove to the Original Farmers Market, a culinary landmark and source of immense pride for the surrounding community. The Grove pulses with style, warmth and excitement, which is why the world’s leading brands and personalities come here to launch their latest creations and engage their fans.

Source: thegrovela.com/visit/

SHOPPING ON ROBERTSON

Robertson Boulevard is a favorite shopping mecca for celebrities, paparazzi who stalk them and star gazers, Robertson Boulevard is home to both unique shops and some of the high end labels. Interesting note: clothing boutiques make up about 75% of the shops along the street.

Source: robertsonboulevard-shop.com

TRENDY MELROSE

Melrose really began to rise in the 1980’s. It was a fast-moving time of trendy punk rock fashion, big hair. Off-beat, eclectic independent shops were beginning to dot Melrose Avenue. Overnight colorful storefronts and graffiti emerged alongside cutting edge hip clothing stores.

Some of the first notable names began opening shops beginning with Olivia Newton-John and Betsy Johnson. From there the color and vibe propagated - Melrose was the cool place to shop.

Source: melroseavenue-shop.com

AREA LANDMARKS

  • 8500 Burton
  • The Four Seasons Hotel
  • L’Ermitage Beverly Hills
  • The Beverly Center
  • “Restaurant Row” on La Cienega
  • The Grove
  • Cedar’s Sinai
  • The Sunset Strip
  • Pacific Design Center