This follow-up to the mega-smash Beverly Hills Cop sees the Beverly Hills police department stymied by the so-called Alphabet Robberies, whereby stores with monographed goods are hit by a gang of highly skilled thieves. One of these armed thieves is a statuesque blonde named Karla Fry (Brigitte Nielsen), who becomes a prime suspect when she attempts to murder Capt. Bogomil (Ronny Cox), shooting him twice and leaving him on life support.

This brings Detroit detective Axel Foley (Eddie Murphy) back out to the West Coast again, helping out his old friend, joining forces again with Beverly Hills detectives Taggart (John Ashton) and Rosewood (Judge Reinhold) in getting to the bottom of the case, despite the obstacles created by their new police chief, Lutz (Allen Garfield). All clues seem to lead to Maxwell Dent (Jurgen Prochnow), who appears to be using the robberies as a front for a much larger operation, although getting the evidence needed to bring him down isn't going to be easy, especially since Dent's men are armed to the teeth and know how to use their weapons.