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5609 W Sunset Boulevard

Los Angeles (City), CA 90028
  • $9,495,000
  • STATUS: Active
  • ON SITE: 230 Days
  • ID#: 23289065
UPDATED: 63 min ago
$9,495,000
  • 0
    BEDS
  • 0.7
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Oron Maher of Maher Commercial Realty (310-464-1453) and Jeremy Shore of ()


Description

The subject property presents an investor or developer with the opportunity to purchase a 9,346 square foot building located on a 30,274 square foot parcel on the corner of famed W. Sunset Blvd and St. Andrews in prime Hollywood, located on the same block as Target, Home Depot, and many restaurants and other retail amenities. The site benefits from a unique mix of credit tenants, including a rare drive-thru Burger King and a 7-11 operated by an experienced franchisee. A buyer can benefit from purchasing the property today and immediately collecting cash flow while simultaneously working on entitlements to build approximately 130 units. This parcel is zoned LAC2 and benefits from being in a Tier III Transit Oriented Community, which gives it a 70% density bonus on top it's by-right potential. Additionally, the property is located in Subarea C of the Vermont Western SNAP, which is the most beneficial Subarea for development of residential, allowing for increased FAR and height. Additional density incentives are available for a 100% Affordable project, allowing up to 137 units with no parking requirement. The submarket is in high demand for new residential development with 1,795 units built between 2016 and 2023, and 2,231 units in the planning pipeline within 0.5 miles. This is a very favorable parcel for development. While there is term left on some of the leases, shortening or terminating leases is likely and can potentially be arranged for the right Buyer. Conversely, leases can likely be extended, and additional income can be added if a Buyer prefers a longer hold.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-26T12:29:21.83. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.
www.gogabby.com/homes/141353277
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5609 W Sunset Boulevard Los Angeles (City), CA 90028

  • Price: $9,495,000
  • Status: Active
  • On Site: 230 Days
  • Updated: 63 min ago
  • ID#: 23289065
0
Beds
0
Baths
0
½ Baths
0.7
Acres
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
The subject property presents an investor or developer with the opportunity to purchase a 9,346 square foot building located on a 30,274 square foot parcel on the corner of famed W. Sunset Blvd and St. Andrews in prime Hollywood, located on the same block as Target, Home Depot, and many restaurants and other retail amenities. The site benefits from a unique mix of credit tenants, including a rare drive-thru Burger King and a 7-11 operated by an experienced franchisee. A buyer can benefit from purchasing the property today and immediately collecting cash flow while simultaneously working on entitlements to build approximately 130 units. This parcel is zoned LAC2 and benefits from being in a Tier III Transit Oriented Community, which gives it a 70% density bonus on top it's by-right potential. Additionally, the property is located in Subarea C of the Vermont Western SNAP, which is the most beneficial Subarea for development of residential, allowing for increased FAR and height. Additional density incentives are available for a 100% Affordable project, allowing up to 137 units with no parking requirement. The submarket is in high demand for new residential development with 1,795 units built between 2016 and 2023, and 2,231 units in the planning pipeline within 0.5 miles. This is a very favorable parcel for development. While there is term left on some of the leases, shortening or terminating leases is likely and can potentially be arranged for the right Buyer. Conversely, leases can likely be extended, and additional income can be added if a Buyer prefers a longer hold.
Exterior Features

Parking Total 0 View None View YN No

Property Features

Association YN No Listing Agreement Seller Reserved Listing Service Full Service New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning LAC2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-26T12:29:21.83. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.
 
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Go Gabby | RE/MAX Estate Properties
1901 S Catalina Ave.
Redondo Beach CA, 90277
Listing Agent(s): Oron Maher of Maher Commercial Realty (310-464-1453) and Jeremy Shore of ()