5051 W. SUNSET BOULEVARD
LOS ANGELES, CA 90027
SALE PRICE: $2,100,000
OWNER/USER & DEVELOPMENT ACQUISITION
Alex Reyhan and Daniel Hirth of The Hirth Group are pleased to announce the successful closing of 5051 W. Sunset Boulevard, Los Angeles, CA 90027! The Hirth Group represented both the buyer and seller on this transaction - Successfully negotiating a 14 day due diligence, 30 day close, with a 45% short term Seller Carry! While the Seller was motivated to move his equity into other projects, the Buyer had multiple plans for the site, from an owner/user approach to a potential development in the near future.
5051 W. Sunset Boulevard, is a ±300 SF property on a ±8,013 SF lot, previously used and operated as an auto smog check. Currently the tenant was paying roughly $8,000 per month on a month-to-month term. Due to cash flow and availability of vacating the property, there was a realm of developers that found the passive income beneficial due to the permitting process, and owner/users looking to occupy the space for their own business use. 5051 W. Sunset Boulevard is part of TOC Tier 3 allowing for potentially 36 units with an FAR of 3.75:1, totaling ±30,049 buildable SF.