Property Detail

Description

We are pleased to present for sale a rare opportunity to acquire an approximately 12,000 SF vacant development site directly on Sunset Blvd in the heart of Hollywood. Now offered at $3,495,000, representing an attractive land basis of approximately $291/SF. Zoned C2-2D-SN-CPIO, located within TOC Tier 3 and an Opportunity Zone, the site offers significant development potential and flexibility. Per ZIMAS, the property is also designated Transit Oriented Incentive Area 2 and Opportunity Corridors Incentive Area OC-3 under the City's Citywide Housing Incentive Program (CHIP), potentially providing additional density, FAR, height, and parking incentives (buyer to verify). Build approximately 30 units by right or potentially up to 63 units with TOC incentives + ADUs (buyer to verify). The property may also offer potential for a 100% affordable housing development (buyer to verify). Vacant land with no tenant relocation, demolition costs, or SB 8 replacement issues. Lot dimensions are approximately 60' x 200'. Seller financing options available. Prime Sunset Blvd location in the heart of Hollywood, within walking distance of Hollywood/Highland Metro, shopping, dining, and entertainment. An excellent opportunity to acquire a sizable, clean-slate development site along one of Hollywood's most recognizable corridors with multiple potential development strategies.