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5222 W Sunset Blvd, Los Angeles, CA 90027
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5222 W Sunset Blvd Los Angeles, CA 90027

$9,600,000 Sold Price as of 09/12/2024
  • -- Beds
  • -- Baths
  • 19,404 Sq.Ft.
Sold
$9,600,000 Sold Price as of 09/12/2024 Refinance Your Mortgage
Map preview of 5222 W Sunset Blvd, Los Angeles, CA 90027

Property Overview: 5222 W Sunset Blvd Los Angeles, CA has -- bedrooms, -- bathrooms, 19,404 living square feet and 42,076 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Court Ordered Sale - All Offers Due by 5:00 PM on February 13, 2024. The subject property presents an investor or developer with the opportunity to purchase a 19,404 square foot value-add retail building on an almost one acre (42,076 square foot) parcel of land zoned C2-1D, and located in a TOC Tier 3 community. The property falls within the favorable Subarea B of the Vermont/Western Station Neighborhood Area Plan. The retail center is currently 50% vacant, with a majority of remaining tenants either on month-to-month leases or with lease maturity occurring in 2024. This is a unique value-add or development opportunity in the Thai Town neighborhood of Hollywood. The current zoning supports the development of 92 residential units over retail, or 91-200 units (Buyer to verify) as a 100% affordable project. The premises are approximately 50% leased, with four (4) vacant units.

Listed by Oron Maher | BRE #01299093 | Maher Commercial Realty
Last checked: 10 minutes ago | Last updated: September 16th, 2024 | Source CRMLS | DOM: 52

Home details

Lot Sq. Ft
42,076
HOA Dues
$0/mo
Year built
1969
Garage
--
Property Type:
Other
Status
Sold
MLS#
24350253
City
Los Angeles
County
Los Angeles
Time on Site
241 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
Property Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.19%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: --
  • Net Operating Income: $622,443
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5222 W Sunset Blvd

Lot Details / Garage and Parking
Lot Information
  • Lot Size Source: Other
Property Information
  • Total # of Units: 12
  • Parcel Number: 5544034037
Location / Neighborhood
Location Information
  • Directions: East on W. Sunset Blvd, Building is between Hobart Blvd and W. Kingsley Drive
View more facts & features

Local Los Angeles Agent

Sale History for 5222 W Sunset Blvd

Last sold for $9,600,000 on September 12th, 2024

  • September, 2024

  • Sep 12, 2024

    Date

    Sold

    CRMLS: 24350253

    $9,600,000

    Price

  • Jan 22, 2024

    Date

    Active

    CRMLS: 24350253

    $11,999,999

    Price

  • July, 2023

  • Jul 10, 2023

    Date

    Canceled

    CRMLS: 23288983

    $12,000,000

    Price

  • Jul 10, 2023

    Date

    Active

    CRMLS: 23288983

    $12,000,000

    Price

  • Listing provided courtesy of CRMLS

    The subject property presents an investor or developer with the opportunity to purchase a 9,346 square foot building located on a 30,274 square foot parcel on the corner of famed W. Sunset Blvd and St. Andrews in prime Hollywood, located on the same block as Target, Home Depot, and many restaurants and other retail amenities. The site benefits from a unique mix of credit tenants, including a rare drive-thru Burger King and a 7-11 operated by an experienced franchisee. A buyer can benefit from purchasing the property today and immediately collecting cash flow while simultaneously working on entitlements to build approximately 130 units. This parcel is zoned LAC2 and benefits from being in a Tier III Transit Oriented Community, which gives it a 70% density bonus on top it's by-right potential. Additionally, the property is located in Subarea C of the Vermont Western SNAP, which is the most beneficial Subarea for development of residential, allowing for increased FAR and height. Additional density incentives are available for a 100% Affordable project, allowing up to 137 units with no parking requirement. The submarket is in high demand for new residential development with 1,795 units built between 2016 and 2023, and 2,231 units in the planning pipeline within 0.5 miles. This is a very favorable parcel for development. While there is term left on some of the leases, shortening or terminating leases is likely and can potentially be arranged for the right Buyer. Conversely, leases can likely be extended, and additional income can be added if a Buyer prefers a longer hold

  • June, 2003

  • Jun 20, 2003

    Date

    Sold (Public Records)

    Public Records

    $551,000

    Price

  • February, 2003

  • Feb 19, 2003

    Date

    Sold (Public Records)

    Public Records

    $7,000

    Price

Show More

Tax History for 5222 W Sunset Blvd

Assessed Value (2020): $6,643,303
Year Land Value Improved Value Assessed Value
2020 $5,235,826 $1,407,477 $6,643,303

Home Value Compared to the Market

This property vs the competition

5222 W Sunset Blvd sold on September 12, 2024 for 971.43% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $618.43 per/sqft which puts the price per square foot 14.58% lower than the current median sale per square foot for the city of Los Angeles.

About 5222 W Sunset Blvd

Detailed summary of property

5222 W Sunset Blvd is a other that recently sold in Los Angeles, CA 90027. This property offered -- bedrooms, -- bathrooms, roughly 19,404 living square feet, and sits on an approximately 42,076 square foot lot. 5222 W Sunset Blvd was first listed on ArdentRealEstateGroup.com on January 22, 2024. The homeowner sold the property for $9,600,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 971.43% higher than the current median priced home. While the average home in Los Angeles, CA is selling in 106 days, 5222 W Sunset Blvd has a days on market of 52 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 5222 W Sunset Blvd Los Angeles, CA 90027 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5222 W Sunset Blvd

Public county record property details
Beds
--
Baths
--
Year built
1969
Sq. Ft.
17,891
Lot Size
42,076
Stories
1
Type
Community: Shopping Plaza, Shopping Center, Mini-Mall
Pool
No
Spa
No
County
Los Angeles
Lot#
A
APN
5544-034-037

The source for these homes facts are from public records.

90027 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$2,488,000
Median List Price/Sq.Ft.
$943
Median Sold Price
$2,340,000
Median Sold Price/Sq.Ft.
$1,093
Total Inventory
81
Median Sale to List Price %
126.55%
Avg Days on Market
35
Loan Type
Conventional (14.29%), FHA (0%), VA (0%), Cash (7.14%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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