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Development Parcel Near Hollywood Walk of Fame Comes to Market
A&G Real Estate Partners and Onyx Asset Advisors are accepting offers for a nearly 10,000-square-foot development parcel near the Hollywood Walk of Fame. The prime Downtown Los Angeles site is currently a 9,521-square-foot parking lot.
“Parking in the area is at a premium, so continuing with the current use is an attractive option,” said Emilio Amendola, co-president of A&G Real Estate Partners and head of the firm’s real estate sales division. “However, the site’s flexible zoning code also makes possible a wide array of other uses. It’s a rare, guaranteed-to-be-sold opportunity right in the heart of Hollywood.”
One possible use for the site, pending city approval, is a high-efficiency, short-term rental property, added Paul D. Buie, managing director at Onyx. “The neighborhood already boasts a few STRs, which are a natural fit given that this is one of the world’s most popular tourist destinations, especially with the next Summer Olympics coming to Los Angeles,” he said.
- ◦Sale/Acquisition
