7038 Sunset Blvd Los Angeles, CA 90028-7521

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.