$9,600,000
$11,999,999
20.0%For more information regarding the value of a property, please contact us for a free consultation.
0.97 Acres Lot
SOLD DATE : 09/12/2024
Key Details
Sold Price $9,600,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 24350253
Sold Date 09/12/24
HOA Y/N No
Year Built 1969
Lot Size 0.966 Acres
Property Description
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.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning C2-1D TOC Tier 3
Interior
Fireplace No
Building
Story 1
Others
Tax ID 5544034037
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Oron Maher • Maher Commercial Realty
"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "