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    Historic Filipinotown Performing Arts Venue Title is generated by Realmo AI

    2214 - 2220 Beverly Boulevard, Los Angeles, CA 90057

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    For Sale
    $5,250,000

    Unique performing arts venue with bar in Historic Filipinotown.

    Type:Performing Arts Space / Theater / Gallery / Live Music Venue
    Property size:
    8,440 SF
    Price / SF:
    $622/SF
    Added:
    Nov 26, 2025
    Days on Market:
    171
    Last Refresh:
    Apr 5 at 9:08 pm

    Property Features for 2214 - 2220 Beverly Boulevard

    General Information

    Standard status
    Active
    Size
    8,440 SF
    Property subtype
    Performing Arts Space / Theater / Gallery / Live Music Venue

    Building Details

    Year Built
    1929

    We can help!

    Listing Contact
    Paul Brehme
    Paul Brehme

    Listing agent Paul Brehme

    Listing office

    Listing date Nov 26, 2025

    Source Lee-associates

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Paul Brehme

    HighLights

    • Established performing arts venue (Bootleg Theater) with a strong community presence and diverse programming history.
    • Favorable CUP allows for performing arts venue with bar, lounge, restaurant, and outdoor deck (though no commercial kitchen is currently in place).
    • Prime location in the rapidly redeveloping Historic Filipinotown (HiFi), recognized as one of the world's coolest neighborhoods and near Downtown LA.
    • Substantial space: Approximately 5,000 sq ft main theater with 20‑foot bow truss ceilings, plus a separate 3,400 sq ft adjacent space (available for lease).
    • Existing liquor license permits a full line of alcoholic beverage sales (available in a separate transaction).
    • Ample parking: 16 on‑site spaces plus 72 leased spaces across the street for evening events.

    Overview

    Located in Historic Filipinotown, the property at 2220 Beverly Blvd features a main theater in the rear of the building and additional performance space in the front, along with a cocktail bar. The venue totals approximately 5,000 square feet and has 20-foot-high bow truss ceilings. The rear theater currently has seating for 84 people and includes a sound booth, as well as bonus basement space used as a green room. The adjacent property at 2214 Beverly Blvd consists of approximately 3,400 square feet of retail, office, gallery, and performance space, and includes various mezzanine structures and 22-foot-high bow truss ceilings. The total lot size is 125 feet by 135 feet, with 125 feet of street frontage. The current CUP allows for a performing arts venue with a bar, lounge, and restaurant, though there is no commercial kitchen currently in operation. The liquor license permits a full line of alcoholic beverages and can be sold in a separate transaction. In addition to the 16 parking spaces onsite, the theater owner leases 72 parking spaces across the street during the evening for shows. Historic Filipinotown is experiencing a redevelopment phase and is located a short drive from Downtown LA.
    Location Intelligence

    Current Use by Public Records

    Theaters & concert halls

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.272
    Latitude
    34.0672

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    FAQs

    What type of property is this?
    Theater & concert hall - Unique performing arts venue with bar in Historic Filipinotown.
    Where is this theater & concert hall located?
    The property is located at 2214 - 2220 Beverly Boulevard Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $5,250,000.
    What are key features of this property?
    This property features: Established performing arts venue (Bootleg Theater) with a strong community presence and diverse programming history.; Favorable CUP allows for performing arts venue with bar, lounge, restaurant, and outdoor deck (though no commercial kitchen is currently in place).; Prime location in the rapidly redeveloping Historic Filipinotown (HiFi), recognized as one of the world's coolest neighborhoods and near Downtown LA.
    (310) 899-2714
    We can help!
    Listing Contact
    Paul Brehme
    Paul Brehme
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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