CBRE, Inc., as exclusive agent is pleased to present for sale a ±0.58-acre site fully entitled to build 70 multifamily units and ±3,173 square feet of ground floor retail restaurant space in world famous, vibrant Hollywood, California.
Located at 901 Vine Street, the project boasts excellent visibility along a main thoroughfare and will deliver an attractive mix of studio, one-, and two- bedroom units in one of the most densely populated areas of Los Angeles. The Property will be delivered ready to issue for building permits.
Submarket fundamentals are outstanding with 97% apartment occupancy levels in the surrounding area and limited new multifamily supply. The proposed project is not subject to the newly instated City parks and recreation fee.
The Property boasts a Walk Score of 92 – a “Walker’s Paradise” – and is proximate to two Metro rail subway stations (at Hollywood/Vine and Hollywood/Highland), local entertainment/media/studio employers and an abundance of shopping, dining, nightlife and entertainment amenities.
Area shopping and entertainment attractions include Hollywood/Sunset, The Grove/3rd & Fairfax, Larchmont Village, Koreatown, and Melrose Avenue. Key area employers include Paramount Pictures, Children’s Hospital, Kaiser Permanente, and Sunset Bronson Studios.
Hollywood’s outstanding, central location is minutes away from key employment centers including Downtown Los Angeles, West Hollywood, Wilshire Boulevard’s Miracle Mile, Beverly Hills, and Century City.
901 Vine Street is offered to the market on an UNPRICED basis
Bids are due Friday, January 26, 2018 by 5:00 PM.
