2511-2517 Sunset Blvd, Los Angeles, CA 90046
0.62 Acres of Residential Land in Los Angeles, CA 90046
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Land
Listing Contacts
Laurie Lustig-Bower
Verified Profile
Kadie Presley Wilson
Verified Profile
- Property Info
Property Overview
CBRE, as exclusive advisor, is pleased to present a mixed-use development opportunity located on iconic West Sunset Boulevard, in the desirable Silver Lake neighborhood of Los Angeles. Utilizing TOC Tier 3 benefits, 2511-2517 West Sunset Boulevard is suitable for the development of up to 123 units and ±12,000 square feet of retail space. The property is comprised of ±0.62 acres of land. The site boasts ±218 feet of frontage along world-famous West Sunset Boulevard. The existing improvements consist of a neighborhood supermarket, a small recycling facility and a surface parking lot. There are five tenants total who, combined, pay ±$166,884 annually on modified gross leases. Three tenants are on month-to-month leases. The billboard tenant’s lease expires in January of 2023 and the supermarket tenant’s lease expires in January of 2024. Straddling the trendy neighborhoods of Silver Lake and Echo Park, 2511-2517 West Sunset Boulevard provides a developer with a unique opportunity to employ TOC incentives to deliver a significant number of residential units in a very desirable submarket, as well as to capitalize on the incredible retail demand in the area. 2511-2517 West Sunset Boulevard is offered to the market on an unpriced basis.
Property Details
- Property Subtype
- Residential/Multifamily
Highlights
- TOC Tier 3 Mixed-Use Development Site
- Build ±123 Residential Units and ±12,000 SF of Retail
- Desirable Silver Lake Location
- ±218 Feet of Frontage along Sunset Boulevard
- Surrounded by Retail Rents as High as $9.54 PSF NNN
- Only 4.3% Housing Vacancy in Surrounding Area
Nearby Properties
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