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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, This email address is being protected from spambots. You need JavaScript enabled to view it.; Christian Koulichkov, (617) 335-3940, This email address is being protected from spambots. You need JavaScript enabled to view it.; or Paul Buie, This email address is being protected from spambots. You need JavaScript enabled to view it..

Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE A&G Real Estate Partners