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5222 W Sunset Boulevard

Los Angeles (City), CA 90027
  • $11,999,999
  • STATUS: Active Under Contract
  • ON SITE: 154 Days
  • ID#: 24350253
Under Contract
UPDATED: 70 min ago
$11,999,999
  • 0
    BEDS
  • 0.97
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1969
County:

School Ratings & Info

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


Description

Court Ordered Sale - All Offers Due by 5:00 PM on February 13, 2024. The subject property presents an investor or developer with the opportunity to purchase a 19,404 square foot value-add retail building on an almost one acre (42,076 square foot) parcel of land zoned C2-1D, and located in a TOC Tier 3 community. The property falls within the favorable Subarea B of the Vermont/Western Station Neighborhood Area Plan. The retail center is currently 50% vacant, with a majority of remaining tenants either on month-to-month leases or with lease maturity occurring in 2024. This is a unique value-add or development opportunity in the Thai Town neighborhood of Hollywood. The current zoning supports the development of 92 residential units over retail, or 91-200 units (Buyer to verify) as a 100% affordable project. The premises are approximately 50% leased, with four (4) vacant units.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-24T23:28:02.823. 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 Kohler Real Estate Group | Zutila. Licensed in the State of California, USA.
www.buysocal.homes/homes/146817268
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5222 W Sunset Boulevard Los Angeles (City), CA 90027

  • Price: $11,999,999
  • Status: Active Under Contract
  • On Site: 154 Days
  • Updated: 70 min ago
  • ID#: 24350253
0
Beds
0
Baths
0
½ Baths
0.97
Acres
1969
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
Court Ordered Sale - All Offers Due by 5:00 PM on February 13, 2024. The subject property presents an investor or developer with the opportunity to purchase a 19,404 square foot value-add retail building on an almost one acre (42,076 square foot) parcel of land zoned C2-1D, and located in a TOC Tier 3 community. The property falls within the favorable Subarea B of the Vermont/Western Station Neighborhood Area Plan. The retail center is currently 50% vacant, with a majority of remaining tenants either on month-to-month leases or with lease maturity occurring in 2024. This is a unique value-add or development opportunity in the Thai Town neighborhood of Hollywood. The current zoning supports the development of 92 residential units over retail, or 91-200 units (Buyer to verify) as a 100% affordable project. The premises are approximately 50% leased, with four (4) vacant units.
Exterior Features

Parking Total 0

Property Features

Association Fee 0 Cap Rate 5.19 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 622443 Special Listing Conditions Standard Zoning C2-1D TOC Tier 3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-24T23:28:02.823. 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 Kohler Real Estate Group | Zutila. Licensed in the State of California, USA.
 
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Kohler Real Estate Group | Zutila
4000 Barranca Pkwy #105
Irvine CA, 92604
Listing Agent(s): Oron Maher of Maher Commercial Realty (310-464-1453)