Listed by eXp Commercial
$9,980,000
The Sunset Hotel
Details
APN 5546-013-012
Property Type Office, Hospitality
Sub Type Hotel, Commercial
Square Footage 9,945
Keys 175
Tenancy Vacant
Price per SqFt $80
Class A
Buildings 1
Stories 13
Lot Size (SqFt) 0.23
Zoning C4-2D-SN (HOLLYWOOD SIGNAGE SUD)
Parking Spaces 72 spaces
Parking per 1,000 SqFt 7.24
Investment Type Redevelopment
Entitled Hotel Development Site | Sunset Blvd
Marketing description
Karl Markarian of One West Group is pleased to present the exclusive offering of 6445 W. Sunset Boulevard, an entitled 175-key hotel development site located on one of the most iconic addresses in Hollywood, California.
The Property delivers an institutional-grade development opportunity at a basis substantially below comparable Hollywood and West Hollywood entitled hotel land trades. The offering combines a fully designed, entitled, and labor-cleared development position with a Sunset Boulevard address, immediate proximity to Hollywood's principal demand drivers, and three executed labor peace agreements transferable to a buyer at close. Situated in an Opportunity Zone.
Investment highlights
- Entitled for a 175-key, 13-story, 124,141 SF hotel with a 12,500 SF F&B program. Architect of record Archeon Group has produced a complete design package (Sept 2020, revised Oct 2022) including site plans, all floor plans, elevations, sections, renderings, materials palette, and landscape plans. A buyer steps into a construction-ready position rather than a multi-year entitlement process.
- Ownership has executed three separate labor peace agreements covering both the construction phase and the operating workforce. The CWTA covers the skilled construction trades. The Laborers MOA (executed August 2023) covers concrete, masonry, wet utilities, and prevailing-wage scope. The UNITE HERE Local 11 MOA (executed September 2022) covers the operating hotel workforce post-opening. All three are transferable and run with the project. Comparable LA hotel projects routinely spend 12 to 36 months negotiating these agreements post-acquisition. That risk is closed.
- The Property occupies a corner position on Sunset Boulevard at Cahuenga, within the Hollywood Signage Supplemental Use District. The location offers immediate proximity to Hollywood's principal demand drivers — the Hollywood Walk of Fame, Capitol Records Tower, ArcLight/AMC Theatres, Sunset Bronson Studios, the Pantages Theatre, and the Hollywood/Vine Metro station two blocks east. The Sunset Boulevard frontage delivers signage rights, brand visibility, and rooftop views toward the Hollywood Sign and the Hills.
- At $9,980,000, the offering prices to $57,029 per buildable key — a basis well below the $80,000 to $150,000 per key range observed on comparable LA entitled hotel land trades. Stabilized residual land value math supports a positive development spread across base-case build cost and Hollywood Class A operating assumptions.
- Hollywood and the broader Los Angeles hospitality market continue to benefit from production industry resurgence, Walk of Fame tourism, music and theater anchors, and the LA28 Olympic Games. The Hollywood/Highland corridor has demonstrated sustained Class A rate growth, and the Hollywood/Vine submarket shows multi-year RevPAR and ADR strength among lifestyle and full-service hotels.
- The 175-key program is sized for boutique-lifestyle, soft-branded, or independent operating models. The room mix (six unit types, 171 SF to 345 SF) provides flexibility to align with a brand standard or to operate as a positioned independent. The 12,500 SF F&B program (lobby, lounge, rooftop) supports a destination beverage and dining position.
Listing Contacts
Listed by eXp Commercial
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