The Hirth Group is pleased to announce another successful closing of 5051 W Sunset Boulevard, Los Angeles, CA 90027. Daniel Hirth and Alex Reyhan represented the buyer and seller in this off market transaction.  Through our extensive market knowledge and expertise in the Hollywood/Los Feliz sub-market, negotiating skills, and client relationships we were successfully able to close escrow in 30 days with a short 14 day due diligence period.  Additionally we arranged seller financing that was advantageous for all parties involved.
 
The subject property is comprised of 302 SF of building on an 8,013 SF lot and was delivered vacant at the close of escrow. The excellent development site is zoned C2-1D and is located in the Transit Oriented Community Tier 3 and in the Opportunity Zone. With their newly acquired asset, the investors can build 20 units “By Right” or a co-living complex in prime Los Feliz,,California. If the developer plans to utilize TOC density bonus, they can potentially build up to 36 units.