A&G and Onyx offer
flexibly zoned parcel in the heart of downtown Hollywood
HOLLYWOOD, Calif., Aug. 22,
2024 /PRNewswire/ -- A&G Real Estate Partners and
Onyx Asset Advisors (ONYX) are accepting offers for a nearly
10,000-square-foot development parcel just steps away from the
Hollywood Walk of Fame.
The prime downtown Los Angeles
site—currently a 9,521-square-foot parking lot—is zoned LAC4, noted
Emilio Amendola, Co-President of
A&G Real Estate Partners and head of the firm's real estate
sales division.
"Parking in the area is at a premium, so continuing with the
current use is an attractive option," Amendola said. "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 of Onyx Asset
Advisors.
"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," Buie said. "Nearby
attractions include the TCL Chinese Theater, The Musso and
Frank Grill, The Hollywood Museum,
and the iconic Capitol Records Tower, just to name a few."
For further information on the asset, visit
https://www.agrep.com/index.php/hollywood or contact
Emilio Amendola, (631) 465-9507,
emilio@agrep.com; Christian
Koulichkov, (617) 335-3940, ckoulichkov@agrep.com; or
Paul Buie, pbuie@thinkonyx.com.
Media Contacts: At Jaffe Communications,
Elisa Krantz, (908) 789-0700,
382224@email4pr.com
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SOURCE A&G Real Estate Partners