pop
Auction #477

±33,520 SF Commercial/ Redevelopment Corner Lot on Sunset Blvd in Hollywood, California.

close image slider
  • Auction #
    477
  • Interior Space:
    ± 9,424 SF
  • Lot Size:
    ±33,520 SF
  • Transaction Fee:
    3%
  • Broker
    Co-op:
    Negotiable

±33,520 SF Commercial/ Redevelopment Corner Lot on Sunset Blvd in Hollywood, California.

Hospitality/Land/New Homes/Retail/Specialty Property For Sale in Hollywood, CA

7038 Sunset Blvd, Hollywood, CA 90028

FRE Auctions and PAR Commercial are pleased to present the Online Auction Plus® Event for this Commercial/ Redevelopment Corner Lot on Sunset Blvd in Hollywood, California.

Situated at 7038 Sunset Blvd within an Opportunity Zone in the heart of Hollywood, this 33,520 SF. lot is a prime development opportunity in one of the nation's top markets. Located between two of the most famous intersections in the world, this site is ideal for a hotel, multifamily, or a mix-use development. 

The Hollywood district of Los Angeles is one of the most popular tourist destinations in California. With roots in the entertainment industry, attractions like the TCL Chinese Theatre, Hollywood & Highland, El Capitan Theatre, and the historic Roosevelt Hotel, and billions of dollars in investment over the last decade, Hollywood has become a thriving submarket within Greater Los Angeles. Over the years urban real estate investment firms have renovated the area and created an attractive retail market, not just a tourist destination, with a current inventory of 8.7 million square feet of commercial retail space. Currently in Hollywood there are 30 development projects in in the works.

LAC4 Zoning 
Allows mixed-use development, enabling the coexistence of residential and commercial properties. It often permits higher-density construction, encouraging buildings with increased floors or units per acre. This zoning category allows for a diverse range of commercial activities, fostering economic vibrancy and the establishment of bustling commercial centers. Such zoning initiatives contribute to the city's overarching goals of managing urban growth and development to bolster economic vitality, livability, and sustainability in Los Angeles. Please download the document titled Preliminary Developpement Potential Analysis for a full breakdown. 

Recently Sold 
Situated just 100 feet away at 7022 Sunset Blvd, a closed commercial property near the intersection of Sunset Blvd and Sycamore Ave, will be redeveloped into a mixed-use apartment complex. The plan entails a seven-story, 121,000 SF. building, housing 112 studio, one, and two-bedroom apartments, along with 2,700 SF. of ground-floor commercial space.

Current Use 
As an owner/user opportunity, the property boasts a 9,424 SF. rentable square foot restaurant/tavern building with an additional 2,000 SF. basement. Accompanied by a spacious surface parking lot, capable of accommodating approximately 62 cars or up to 95 cars with valet service. Originally constructed in 1940, the property underwent extensive renovations in 2020, ensuring modern functionality and appeal. Just a block away from iconic landmarks such as the Hollywood Walk of Fame and the Dolby Theatre, this prime location offers proximity to numerous world-class Hollywood destinations

Additional Location Information: 

  • 1.4 miles from the Hollywood Bowl
  • 16.4 miles from Los Angeles International Airport. 
  • 9.3 miles from Burbank Airport
  • 7.1 miles from Downtown LA.

Downloadable Documents

Property Information

Auction Information

Property Viewing

If you would like to visit this property or any other property in this auction event, you are required to execute and electronically submit a Temporary Access Agreement.

If you visit this property or any other property without first executing a Temporary Access Agreement, you will be trespassing. Please don’t trespass on any properties.

Start Temporary Access Agreement

Financing

This is an Auction Plus event in which a financing contingency is permitted. On the bid form you will be asked to include financing details.

For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.

Broker of Record for this property: PAR Commercial Brokerage, Inc, CA # 01327137

All information contained on this website or otherwise communicated, is from sources deemed reliable, but has not been verified for accuracy or completeness, or suitability for any particular purpose. It is presented "as is," and is not warranted or guaranteed by the Seller or its agents including but not limited to the Listing Broker, LFC Communications, Inc. and LFC Marketing Services, Inc. Buyers shall rely entirely on their own judgment, research and inspection of the asset, and are encouraged to independently verify information and to consult with appropriate legal, financial and other advisors and real estate specialists.

Conditions may be included with your bid

BID DEADLINE:   Aug 15 5:00 pm PDT
Show values in:
Minimum Bid: US $9,500,000
Required bid deposit: US $1,000
Show values in:
Auction Plus bids are sealed (not displayed).
Corrie Brashars Auction Specialist The Future of Real Estate (FRE) (949) 706-6118 cbrashars@fre.com
Samuel Jimenez Auction Specialist The Future of Real Estate (FRE) (949) 706-6117 sjimenez@fre.com
Arthur Peter Property Representative Par Commercial Brokerage (310) 395-2663 x101 Arthur@parcommercial.com
John Moudakis Property Representative Par Commercial Brokerage (310) 663-1784 johnm@parcommercial.com
pop

How to Bid

  • 1
    Set up a free user account
    Free registration with no obligation. Your account provides access to additional information and documents, as well as email updates.
  • 2
    Search & Select
    The Future of Real Estate features real estate from the USA and international. Utilize our advanced search criteria to narrow down your selection.
  • 3
    Review Information
    Access property information to make better-informed decisions. Available information varies depending on each real estate asset type.
  • 4
    Submit Deposit (if required)
    Prior to placing a bid, you may need to submit a deposit. Deposits can be submitted using credit card, wire transfer or check.
  • 5
    Place Online Bid
    Place bids on your selected asset prior to the deadline. Specifics vary for each asset.
  • 6
    Winner is Declared
    Buyer deposits purchase funds, and closing coordinator assists Buyer and Seller with final paperwork.
auctionplus icon

Conditions may be included with your bid

clock icon
Bid Deadline: Aug 15 5:00 pm PDT
±33,520 SF Commercial/ Redevelopment Corner Lot on Sunset Blvd in Hollywood, California.
Hospitality/Land/New Homes/Retail/Specialty Property For Sale in Hollywood, CA
7038 Sunset Blvd
Hollywood, CA 90028
Auction # 477

Conditions may be included with your bid

Bid Deadline:
Aug 15 5:00 pm PDT
Minimum Bid
US $9,500,000
Required bid deposit
US $1,000
Show values in: 
Auction Plus bids are sealed (not displayed).
Property Details
  • Los Angeles County
    Hollywood, CA
  • Property Type: Commercial Property
  • Interior Space: ± 9,424 SF
  • Lot Size: ±33,520 SF
  • Transaction Fee: 3%
  • Broker Co-op: Negotiable

FRE Auctions and PAR Commercial are pleased to present the Online Auction Plus® Event for this Commercial/ Redevelopment Corner Lot on Sunset Blvd in Hollywood, California.

Situated at 7038 Sunset Blvd within an Opportunity Zone in the heart of Hollywood, this 33,520 SF. lot is a prime development opportunity in one of the nation's top markets. Located between two of the most famous intersections in the world, this site is ideal for a hotel, multifamily, or a mix-use development. 

The Hollywood district of Los Angeles is one of the most popular tourist destinations in California. With roots in the entertainment industry, attractions like the TCL Chinese Theatre, Hollywood & Highland, El Capitan Theatre, and the historic Roosevelt Hotel, and billions of dollars in investment over the last decade, Hollywood has become a thriving submarket within Greater Los Angeles. Over the years urban real estate investment firms have renovated the area and created an attractive retail market, not just a tourist destination, with a current inventory of 8.7 million square feet of commercial retail space. Currently in Hollywood there are 30 development projects in in the works.

LAC4 Zoning 
Allows mixed-use development, enabling the coexistence of residential and commercial properties. It often permits higher-density construction, encouraging buildings with increased floors or units per acre. This zoning category allows for a diverse range of commercial activities, fostering economic vibrancy and the establishment of bustling commercial centers. Such zoning initiatives contribute to the city's overarching goals of managing urban growth and development to bolster economic vitality, livability, and sustainability in Los Angeles. Please download the document titled Preliminary Developpement Potential Analysis for a full breakdown. 

Recently Sold 
Situated just 100 feet away at 7022 Sunset Blvd, a closed commercial property near the intersection of Sunset Blvd and Sycamore Ave, will be redeveloped into a mixed-use apartment complex. The plan entails a seven-story, 121,000 SF. building, housing 112 studio, one, and two-bedroom apartments, along with 2,700 SF. of ground-floor commercial space.

Current Use 
As an owner/user opportunity, the property boasts a 9,424 SF. rentable square foot restaurant/tavern building with an additional 2,000 SF. basement. Accompanied by a spacious surface parking lot, capable of accommodating approximately 62 cars or up to 95 cars with valet service. Originally constructed in 1940, the property underwent extensive renovations in 2020, ensuring modern functionality and appeal. Just a block away from iconic landmarks such as the Hollywood Walk of Fame and the Dolby Theatre, this prime location offers proximity to numerous world-class Hollywood destinations

Additional Location Information: 

  • 1.4 miles from the Hollywood Bowl
  • 16.4 miles from Los Angeles International Airport. 
  • 9.3 miles from Burbank Airport
  • 7.1 miles from Downtown LA.
Downloadable Documents
Property Viewing

Property Viewing

If you would like to visit this property or any other property in this auction event, you are required to execute and electronically submit a Temporary Access Agreement.

If you visit this property or any other property without first executing a Temporary Access Agreement, you will be trespassing. Please don’t trespass on any properties.

Start Temporary Access Agreement
Financing

Financing

This is an Auction Plus event in which a financing contingency is permitted. On the bid form you will be asked to include financing details.

For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.

Contact Us
Corrie Brashars Auction Specialist The Future of Real Estate (FRE) (949) 706-6118 E: cbrashars@fre.com
Samuel Jimenez Auction Specialist The Future of Real Estate (FRE) (949) 706-6117 E: sjimenez@fre.com
Arthur Peter Property Representative Par Commercial Brokerage (310) 395-2663 x101 E: Arthur@parcommercial.com
John Moudakis Property Representative Par Commercial Brokerage (310) 663-1784 E: johnm@parcommercial.com
Broker of Record for this property: PAR Commercial Brokerage, Inc, CA # 01327137

All information contained on this website or otherwise communicated, is from sources deemed reliable, but has not been verified for accuracy or completeness, or suitability for any particular purpose. It is presented "as is," and is not warranted or guaranteed by the Seller or its agents including but not limited to the Listing Broker, LFC Communications, Inc. and LFC Marketing Services, Inc. Buyers shall rely entirely on their own judgment, research and inspection of the asset, and are encouraged to independently verify information and to consult with appropriate legal, financial and other advisors and real estate specialists.

days
hours
mins
secs
Auction Ended
day
hour
min
sec