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    7038 Sunset Blvd Los Angeles, CA 90028

    Sponsored
    For Sale
    $9,500,000

    Prime 0.77-acre Hollywood location, redevelopment opportunity.

    Property size:
    33,520 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.77-acre commercial lot, located at 7038 Sunset Boulevard in Los Angeles, CA 90028, presents a unique redevelopment opportunity. The property boasts a 33,520 square foot lot and includes a 9,424 square foot building with a 2,000 square foot basement, currently configured as a restaurant and bar. Extensive renovations were completed in 2020, updating the existing structure to modern standards. The property also features a substantial surface parking lot with capacity for approximately 62 cars, or up to 95 with valet service. The property is zoned commercial (LAC4), allowing for mixed-use development, including residential and commercial components. This zoning designation permits higher-density construction, offering significant potential for increased building size and units per acre. The property's location is highly desirable, situated just one block from the Hollywood Walk of Fame and Dolby Theatre, providing unparalleled access to the vibrant Hollywood entertainment district. The asking price is $9,500,000, translating to $283.41 per square foot. A nearby property at 7022 Sunset Boulevard is undergoing redevelopment into a seven-story mixed-use apartment complex, further highlighting the area's growth potential. The original building was constructed in 1940 and possesses an ABC License Type 47 with a 2 AM parking permit. This property offers an unparalleled chance to capitalize on the thriving Hollywood market.

    Property Features for 7038 Sunset Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    33,520 SF
    Lot Size
    33,541 SF

    Building Details

    Year Built/Renovated
    1940/2020
    Buildings
    1

    HighLights

    • LAC‑4 mixed‑use zoning allows high‑density residential and commercial development.
    • A new seven‑story, 121,000 sqft mixed‑use development (112 units, 2,700 sqft commercial) is planned 100 feet away at 7022 Sunset Blvd.
    Property Profile Location Intelligence

    Current Use by Public Records

    Man vs Fries Mexican Restaurant Wow Bao - Hollywood Fast Food Restaurant

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.3427756
    Latitude
    34.0977882

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    FAQs

    What type of property is this?
    Restaurant - Prime 0.77-acre Hollywood location, redevelopment opportunity.
    Where is this restaurant located?
    The property is located at 7038 Sunset Blvd Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $9,500,000.
    What are key features of this property?
    This property features: LAC-4 mixed-use zoning allows high-density residential and commercial development.; A new seven-story, 121,000 sqft mixed-use development (112 units, 2,700 sqft commercial) is planned 100 feet away at 7022 Sunset Blvd.;
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7038 Sunset Blvd Los Angeles, CA 90028
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