- The Neema Group is pleased to present the MetWest on Sunset at 5837 W Sunset Blvd, a 79-unit luxury apartment investment opportunity in an irreplaceable Hollywood location on the premier Sunset Blvd between N Bronson Ave and N Van Ness Ave, generational real estate in one of Los Angeles’ most renowned rental submarkets
- Ideal location in between the Netflix headquarters located at 5901 W Sunset Blvd (the Epic Building) and 5800-5808 W Sunset Blvd (the ICON Building), directly across the street from the Sunset Bronson Studios, and three blocks from the Sunset Gower Studios
- The MetWest on Sunset features an impressive unit mix of 30 singles (approximately 528-630 square feet) 19 one bedrooms (approximately 602-692 square feet), and 30 two bedrooms (approximately 904-952 square feet) with Frigidaire stacked washers and dryers, gourmet kitchens with ceramic backsplashes, stainless steel GE appliances, granite countertops, engineered hardwood flooring, central air conditioning and heating, 9’ ceilings, custom cabinetry, and Dwelo smart technology with Smart Door lock, thermostat and light switch; select units have a private balcony or terrace with world-class views of Hollywood
- Residents have numerous amenities to enjoy within MetWest on Sunset including a rooftop pool, spa, BBQ’s and lounge area with panoramic views of the Hollywood Hills and skyline, fitness studio with Life Fitness equipment, and internet café
- Quality construction built in 2016, not subject to the city of Los Angeles Rent Stabilization Ordinance; fully parked with a three-level garage, 119 total spaces, and ten electric vehicle charging stations
- The subject property allows residents to be in close proximity to many employment opportunities with close to 575,000 jobs in a 5-mile radius across a wide variety of industries, with an average household income of $91,840 within a 5-mile radius
- Significant affordability gap to home ownership in Hollywood. The monthly payment on a median-priced home—inclusive of condos—is drastically higher than average rents in the area, which serves as a constant occupancy driver for apartment communities in Hollywood
- Rare opportunity to acquire an institutional-quality asset with strong in-place income and additional upside in a submarket that offers long term appreciation
Hollywood is world renowned as the “entertainment capital of the world.” This iconic neighborhood is one of the most prestigious in the world, populated with many successful lawyers, studio executives, and celebrities. The surrounding area is filled with world-class shopping, dining, tourist attractions and hiking trails, including Runyon Canyon, one of the most popular trails in Los Angeles. In recent years developers have transformed the area into a mixed-use community for people to live, work, and play.
ENTERTAINMENT CAPITAL OF THE WORLD
The history of movie production in Hollywood dates back to the early 1900s, exemplified by landmarks such as the Egyptian and Chinese theaters. While many studios have relocated to neighboring communities such as Studio City and Burbank, the neighborhood remains a primary location for pre- and post-production processes. Today, Hollywood is renowned for its tourist attractions, which draw more than 25 million visitors annually.
The famed Sunset and Hollywood boulevards offer visitors an endless array of entertainment and historic destinations, including the Hollywood and Highland complex, El Capitan Theatre, the Pantages Theatre, the Hollywood Walk of Fame, and a variety of trendy restaurants and night-clubs. Other attractions in the area feature the Hollywood Bowl, Runyon Canyon, and the Griffith Observatory.
5837 Sunset Blvd benefits from a well-insulated, transit-oriented location and are advantageously positioned on Gordon St and Tamarind Ave just off Sunset Blvd away from the congestion of central Hollywood. The Properties are located just steps away from the 101 Freeway (±0.2 miles away) and are proximate to the Metro Red Line Hollywood & Vine Station (±0.8 miles away), affording tenants convenient and efficient travel times to all major employment hubs throughout Los Angeles.