Sunset Mariposa LLC Acquires Development Site On 5051 W Sunset Boulevard In Los Feliz / Hollywood For $1.9M

A development site located at 5051 W Sunset Boulevard in the Los Feliz / Hollywood market has been sold for $1,900,000. The site spans 8,013 square feet, resulting in a price per square foot of $237.11. The property consists of 36 units, with a price per unit of $52,777.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,900,000
• Square Footage: 8,013
• Price per Square Foot: $237.11
• Number of Units: 36
• Price per Unit: $52,777
• Address: 5051 W Sunset Boulevard
• Market: Los Feliz / Hollywood

The buyer for this off-market transaction is Sunset Mariposa LLC, while the seller is 5051 W Sunset LLC. The transaction was facilitated by brokers Daniel Hirth and Alex Reyhan. Notable details include a 30-day closing period, seller financing, and a 1031 exchange buyer. Furthermore, the property is located in an Opportunity Zone and has the potential for up to 20 units by right or 36 units with TOC Tier 3, highlighting its development possibilities.