8721 Sunset Blvd., Los Angeles, CA 90069

$40,000,000.00 5,669.29982 BTC

Sold By: Luxury Ledger

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Sold by: Luxury Ledger

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Located in one of the most affluent sections of greater Los Angeles, 8721 Sunset Blvd. is situated below the Hollywood Hills and adjacent to the iconic Sunset Plaza featuring luxury design retailers and renowned eateries. Since 1962, this property has been owned and operated by the family of Milton Bradley Scott, the well-respected Hollywood businessman and LA Art Commissioner. Meticulously maintained with recently updated common areas and restrooms, the property consists of an approximately 17,246-square-foot office building plus a rare double-sided billboard. The property and billboard are separate entities to be sold together in separate transactions offering a lower property tax basis. The majority of tenant leases are short-term and under market allowing the investor to increase value significantly. Through modest renovation and potential to convert ground floor to retail, rents can be increased by up to 50%.

ESSENTIAL INFORMATION

Commercial Price: $40,000,000 / SqFt

Square Footage: 17,246

Lot Size: 12,415

Year Built: 1956

Type: Office

Style: Contemporary

Status: Pocket (Not in MLS)

COMMUNITY INFORMATION

Address: 8721 Sunset Blvd.

Area: Sunset Strip/Hollywood Hills West

Neighborhood/Subdivision: Sunset Strip

City: Los Angeles

State: CA

Country: US

Zip Code: 90069

Vendor: The Agency

Address: 330 Foothill Rd, Beverly Hills, California 90210

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Vendor Information

  • Store Name: Luxury Ledger
  • Vendor: Luxury Ledger
  • Address: Singapore
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