Wednesday, October 20, 2010

FOR SALE: Adner Realty Group Presents 14,587 sq ft of Vacant Land on Sunset Boulevard in the Dynamic Silver Lake-Echo Park Neighborhood of Los Angeles with Plans and Permits to Build a Mixed-Use Residential and Retail Complex

2014-2022 Sunset Boulevard Project Rendering
Adner Realty Group is pleased to announce we have been retained as the exclusive marketing representative for 2014-2022 Sunset Boulevard, fully entitled land with approved plans for a mixed-use multifamily and retail development in the Silver Lake - Echo Park neighborhood of Los Angeles (90026).

View of Lots at 2014-2022 Sunset Boulevard
The subject property consists of two parcels of vacant land approximately 2.0 miles from Downtown Los Angeles.  2014 Sunset Boulevard (APN #5404-003-011) comprises 7,087 sq ft, and 2022 Sunset Boulevard (APN #5404-003-012) comprises 7,500 sq ft.  In aggregate, the two lots comprise 14,587 sq ft.

Architectural plans and permits exist for the construction of a five-story mixed-used retail and multifamily property consisting of 23 residential rental units, five (5) ground-floor retail spaces, and one level of subterranean parking.

Apartment mix includes eighteen (18) two-bedroom, two-bath units ranging in size from 855 to 1,158 sq ft, and five (5) one-bedroom, one-bath units ranging in size from 606 to 751 sq ft.  Total apartment square footage is 23,070 sq ft.  Some units have gas fireplaces or decks.

Intersection of Sunset Boulevard and Alvarado Street
The subject property is adjacent to the intersection of Sunset Boulevard and Alvarado Street.  Sunset Boulevard is a primary traffic corridor extending from Downtown Los Angeles to Hollywood and Westside neighborhoods.  Alvarado Street is a major axis that provides access to the 101 and 2 Freeways

Bus Line on Sunset Boulevard

Several bus lines operated by the Los Angeles County Metropolitan Transit Authority (MTA) serve this Sunset-Alvarado intersection.

Edendale Public Library Branch on Sunset Boulevard
This high-density neighborhood has experienced a recent boom in building activity, including the Edendale Branch of the LA Public Library, constructed across the street from the subject property, and the LA Unified School District’s Central Regional Elementary School #10, built less than 1,000 feet from the subject property.

Nearby retail tenants in this vibrant neighborhood include Vons Supermarket, Starbucks, K-9 Lofts, Citysip Wine Bar, and American Apparel.

Elementary School #10 Constructed 1,000 ft from subject Property
The vacant land at 2014-2022 Sunset Boulevard offers an opportunity to build new and capture improving rents at this hub near the urban core of Los Angeles.

Offered at $2,190,000