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±33,520 SF Commercial/ Redevelopment Corner Lot on Sunset Blvd in Hollywood, California.
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Auction #
477 -
Interior Space:
± 9,424 SF -
Lot Size:
±33,520 SF -
Transaction Fee:
3% -
BrokerNegotiable
Co-op:
±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 90028FRE 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 Developement 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 Sign In to Access
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 AgreementFinancing
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 offer
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ADD PROPERTY TO FAVORITES
Conditions may be included with your offer
Hollywood, CA 90028
Conditions may be included with your offer
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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 Developement 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.
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.