8737 Beverly Blvd
Institutional-quality medical office investment at 8737 Beverly Blvd in West Hollywood, offered at $19,493,100 with a 3.31% cap rate ($645,450 NOI). The 26,353 rentable SF multi-tenant asset is anchored by Cedars-Sinai Medical Care Foundation and Synergy Hematology-Oncology, with key tenants committed through 2030 and 2031, and currently 73% occupied—presenting meaningful lease-up upside at current market rates.
Built in 1980 and expanded to four stories, the property sits on 0.56 acres in the Beverly Grove/West Hollywood medical corridor (Walk Score 93), steps from Cedars-Sinai Medical Center. The building commands 115 parking spaces (4.1 per 1,000 SF leased) and benefits from a parking agreement with Curbstand, Inc. that generates $120,000 in annual net income. A primarily metered utility structure caps owner exposure to energy costs, while recent lease renewals have established updated 2026 expense base years for select tenants. Additional value drivers include converting remaining gross leases to metered utilities where permitted and filling the 31% vacant space at prevailing market rents.
- Cedars-Sinai Medical Care Foundation and Synergy Hematology-Oncology anchor tenancy through 2030–2031
- 31% vacancy provides significant lease-up potential at current market rates
- $120,000 annual net income from Curbstand parking agreement
- Primarily metered utilities limit owner exposure to rising energy costs
- Premier West Hollywood medical location with 93 Walk Score, adjacent to Cedars-Sinai Medical Center
- Public transportation, commuter rail, and airport access
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Features & amenities
Location
This rare trophy medical office investment presents an exceptional opportunity to acquire a premier asset in the West Hollywood medical corridor, offered for the first time in 27 years. Strategically located in the Beverly Grove/West Hollywood medical district with a Walk Score of 93, the property benefits from immediate proximity to Cedars-Sinai Medical Center, making it highly attractive to leading medical practices and physicians. The building features a strong and prestigious tenant roster, including Cedars-Sinai Medical Care Foundation and Synergy Hematology-Oncology, with key tenants recently extending their leases through 2030 and 2031. The property has also been remeasured to approximately 26,353 rentable square feet, strengthening the basis for rental income and CAM recoveries. With approximately 31% of the building currently vacant, investors have significant value-add potential through lease-up at current market rates, while recent renewals have established updated 2026 expense base years for select tenants. Additional revenue opportunities include converting the remaining gross lease to a metered utility structure where permitted. The property also benefits from a parking agreement with Curbstand, Inc. that provides a $120,000 annual net income floor, along with valuable reserved and unreserved parking rights for tenants. A primarily metered utility structure further limits owner exposure to rising energy costs, while conservative operating expense assumptions provide additional protection against increases in property taxes and other expenses. Overall, the asset combines a highly desirable medical location, institutional-quality tenancy, stable income, significant lease-up potential, and multiple avenues for future revenue growth.