Fully Entitled Proposed Hotel Site in North Hollywood, CA Offered For Sale

HVS Brokerage & Advisory has been exclusively retained to solicit offers to purchase the fee simple interest in the Lankershim Hotel Development Site, a combined 0.57 acres among four parcels located at 5041–5057 Lankershim Boulevard in North Hollywood, California. This offering presents an opportunity to acquire a fully entitled site approved for the development of a 148-key hotel in one of the fastest growing Los Angeles neighborhoods, NoHo’s increasingly trendy Arts District.

Located on the northwest corner of Lankershim Boulevard and Hesby Street, the site benefits from its highly visible and strategic location, with easy access to a multitude of local demand generators. This Burbank market is anchored by the entertainment and mass-media industries but is also supported by the healthcare and professional services sectors. Nearby tourist attractions include Universal Studios Hollywood, the Griffith Observatory, the Hollywood Bowl, and the Hollywood Walk of Fame, among others.

SITE OVERVIEW

Address	5041-5057 Lankershim Boulevard, North Hollywood, California 91601
Assessor Parcel Numbers	2353-010-007, 2353-010-008, 2353-010-009, and 2353-010-017
Total Land Area	25,021 square feet
Gross Building Area	108,391 square feet (4.35:1 FAR)
Ownership Interest	Fee simple
Zoning Designation	C4 (may be developed with residential use allowed under C4 and R4 zones)
Proposed Building Details	Approved for a mixed-use building, including a 148-room hotel and 8,900 square feet of restaurant/retail space
Parking	85 onsite parking spaces on the ground level and a subterranean level, 9 spaces with electric vehicle (EV) charging stations, and 17 spaces that will be EV ready

For details and inquiries visit here.

Posted by Nevistas News on April 24, 2023.

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