Situated at 7038 Sunset Blvd in the heart of Hollywood, this 33,520 SF. lot is a prime development opportunity in one of the nations top markets and within an Opportunity Zone. Located between two of the most famous intersections in the world, this site is idea for a hotel, multifamily, or a mix-use development. The Hollywood district of Los Angeles is one of the most popular tourist destinations in California. With roots in the entertainment industry, attractions like the TCL Chinese Theatre, Hollywood & Highland, El Capitan Theatre, and the historic Roosevelt Hotel, and billions of dollars in investment over the last decade, Hollywood has become a thriving submarket within Greater Los Angeles. Over the years urban real estate investment firms have renovated the area and created an attractive retail market, not just a tourist destination, with a current inventory of 8.7 million square feet of commercial retail space. Currently in Hollywood there are 30 development project within in the works. LAC4 Zoning Allows mixed-use development, enabling the coexistence of residential and commercial properties. It often permits higher-density construction, encouraging buildings with increased floors or units per acre. This zoning category allows for a diverse range of commercial activities, fostering economic vibrancy and the establishment of bustling commercial centers. Such zoning initiatives contribute to the city's overarching goals of managing urban growth and development to bolster economic vitality, livability, and sustainability in Los Angeles. Recently Sold Situated just 100 feet away at 7022 Sunset Blvd, a closed commercial property near the intersection of Sunset Blvd and Sycamore Ave, will be redeveloped into a mixed-use apartment complex. The plan entails a seven-story, 121,000 SF. building, housing 112 studio, one, and two-bedroom apartments, along with 2,700 SF. of ground-floor commercial space. Current Use As an owner/user opportunity, the property boasts a 9,424 SF. rentable square foot restaurant/tavern building with an additional 2,000 SF. basement. Accompanied by a spacious surface parking lot, capable of accommodating approximately 62 cars or up to 95 cars with valet service. Originally constructed in 1940, the property underwent extensive renovations in 2020, ensuring modern functionality and appeal. Just a block away from iconic landmarks such as the Hollywood Walk of Fame and the Dolby Theatre, this prime location offers proximity to numerous world-class Hollywood destinations