Bijan Radnia Acquires Retail Property On Sunset Blvd For $8.34M

A 9,346 square foot building located on a 30,274 square foot parcel on the corner of 5609-5615 West Sunset Boulevard and St. Andrews in Los Angeles was sold for $8,335,857. The asset, situated in prime Hollywood, shares the block with Target, Home Depot, and various restaurants and retail establishments. The property boasts a unique mix of credit tenants, including a drive-thru Burger King and a 7-11 store operated by an experienced franchisee. With existing improvements and favorable zoning for future development, the site presents significant value-add potential.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,335,857
• Buyer: Bijan Radnia
• Seller: Crescent Heights
• Brokers: Oron Maher & Jeremy Shore - Maher Commercial Realty
• Address: 5609-5615 West Sunset Boulevard
• Market: Los Angeles
• SF: 9,346
• PPSF: $892

Maher Commercial Realty facilitated the sale, representing both the buyer and the seller in the transaction. The property, zoned LAC2 and located in a Tier III Transit Oriented Community, enjoys a 70% density bonus in addition to its by-right potential. Furthermore, being in Subarea C of the Vermont Western SNAP grants advantageous development opportunities, particularly for residential projects, allowing increased FAR and height. Notably, density incentives are available for a 100% Affordable project on the site, permitting up to 137 units with no parking requirement.