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Plans to develop a seven-story, 23-unit mixed-use apartment building in East Hollywood’s Sunset Junction, at 4537 -4545 W. Santa Monica Boulevard, are moving forward. The “Ready to Issue” development site will soon be available for purchase, according to an announcement Tuesday from Maher Commercial Realty, the brokerage firm that holds the listing.
The asking price—$5,200,000—includes the land and plans which in late-June were conditionally approved by the City of Los Angeles. A buyer would need to pull permits and construct the building to the approved specs.
4537 -4545 W. Santa Monica Boulevard would rise on land currently occupied by two one-story coin laundry buildings. It would offer roughly 6,000 square feet of retail and most of its units would be two-bedroom. Amenities would include a pool, fitness center, conference rooms, and a rooftop deck, and 33 parking spaces.
“The subject offering presents an investor with an excellent TOC 3 development site totaling +/-34,000 square feet situated on a 9,986 square foot lot,” according to the announcement.