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5615 W Sunset Blvd, Los Angeles, CA 90028
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5615 W Sunset Blvd Los Angeles, CA 90028

$8,335,857 Sold Price as of 03/28/2024
  • -- Beds
  • -- Baths
  • -- Sq.Ft.
Sold
$8,335,857 Sold Price as of 03/28/2024 Refinance Your Mortgage
Map preview of 5615 W Sunset Blvd, Los Angeles, CA 90028

Property Overview: 5615 W Sunset Blvd Los Angeles, CA has -- bedrooms, -- bathrooms, -- living square feet and 30,274 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Oron Maher | BRE #01299093 | Maher Commercial Realty
Co-listed by Jeremy Shore | BRE #02020539 | Maher Commercial Realty
Last checked: 13 minutes ago | Last updated: April 3rd, 2024 | Source CRMLS | DOM: 249

Home details

Lot Sq. Ft
30,274
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Land
Status
Sold
MLS#
23289065
City
Los Angeles
County
Los Angeles
Time on Site
437 days

Property Details for 5615 W Sunset Blvd

Lot Details / Garage and Parking
Property Information
  • No View
  • View: None
  • Parcel Number: 5544028031
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: West on Sunset Blvd., North on St. Andrews Place
View more facts & features

Local Los Angeles Agent

Sale History for 5615 W Sunset Blvd

Last sold for $8,335,857 on March 28th, 2024

  • March, 2024

  • Mar 28, 2024

    Date

    Sold

    CRMLS: 23289065

    $8,335,857

    Price

  • Jul 10, 2023

    Date

    Active

    CRMLS: 23289065

    $12,000,000

    Price

  • July, 2023

  • Jul 10, 2023

    Date

    Canceled

    CRMLS: 23288861

    $12,000,000

    Price

  • Jul 10, 2023

    Date

    Active

    CRMLS: 23288861

    $12,000,000

    Price

  • Listing provided courtesy of CRMLS

  • March, 2018

  • Mar 20, 2018

    Date

    Sold (Public Records)

    Public Records

    $8,650,000

    Price

  • December, 2017

  • Dec 26, 2017

    Date

    Sold

    CRMLS: 17282822

    $8,900,000

    Price

  • Oct 26, 2017

    Date

    Active

    CRMLS: 17282822

    $8,900,000

    Price

  • Listing provided courtesy of CRMLS

    The Oron Maher Commercial Group of Sperry Commercial just listed 5609 Sunset Blvd, Los Angeles, a retail shopping center in Hollywood's Studio District. Anchored by Burger King and 7-Eleven, the +/-9,346 square foot building has 3 long-term tenants and additional income from a Wells Fargo ATM and five reserved parking spaces. The subject site sits on a large corner parcel with favorable LAC2 zoning. The retail center is located at the intersection of Sunset Boulevard and N Saint Andrews Place in the Hollywood Studio District. Nearby shopping and attractions include Home Depot, the future home to Target, Sunset Gower Studios, Sunset Bronson Studios, Hollywood Palladium, Pantages Theatre, and Hollywood Forever Cemetery. The retail center is located just one block from the 101 freeway and a few blocks from a Metro train station. Good opportunity to add-value through lease-up, with excellent future development potential in iconic Hollywood location.

  • March, 2011

  • Mar 15, 2011

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5615 W Sunset Blvd

Assessed Value (2020): $8,999,460
Year Land Value Improved Value Assessed Value
2020 $7,282,800 $1,716,660 $8,999,460

Home Value Compared to the Market

This property vs the competition

5615 W Sunset Blvd sold on March 28, 2024 for 747.77% higher than the current median sold price for the city of Los Angeles which is $1,120,000.

About 5615 W Sunset Blvd

Detailed summary of property

5615 W Sunset Blvd is a land that recently sold in Los Angeles, CA 90028. This land offered -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 30,274 square foot lot. 5615 W Sunset Blvd was first listed on ArdentRealEstateGroup.com on July 11, 2023. The homeowner sold the property for $8,335,857. 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 747.77% higher than the current median priced home. Local homes that are currently for sale include 2234 W Glen Helen Rd, 25046 3rd St and 15797 Foothill Blvd. While the average home in Los Angeles, CA is selling in 106 days, 5615 W Sunset Blvd has a days on market of 249 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 5615 W Sunset Blvd Los Angeles, CA 90028 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5615 W Sunset Blvd

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
30,274
Stories
--
Type
Commercial-Vacant Land
Pool
No
Spa
No
County
Los Angeles
Lot#
5-7
APN
5544-028-031

The source for these homes facts are from public records.

90028 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,099,000
Median List Price/Sq.Ft.
$695
Median Sold Price
$1,015,000
Median Sold Price/Sq.Ft.
$728
Total Inventory
51
Median Sale to List Price %
101.5%
Avg Days on Market
32
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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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