The Neema Group of Marcus & Millichap is pleased to present 6700 Melrose Ave, a unique owner-user opportunity in Hollywood between N Highland Ave & N La Brea Ave, a highly visible location on a main thoroughfare and within a submarket with a plethora of new development and high-end amenities
The current structure totals 3,373 SF used as an office building with a gated entrance, professional lobby, conference room, four private offices, a bullpen area, multiple storage areas, three bathrooms, and a private outdoor deck; the lot size is 8,800 SF and there are eight tandem parking spaces at the rear of the property (16 spaces total)
The property can be delivered vacant at the close of escrow; although the existing use is office, the C2-1XL zoning allows for alternative uses such as retail, theater, broadcast studio, among others (buyer to verify); there is also residential redevelopment potential
Rare opportunity to acquire a freestanding building in a prime Hollywood location with the ability to occupy and renovate immediately
Located within walking distance to many prominent restaurants such as Osteria Mozza, Meteora, Chi Spacca, and Petit Trois, among others
6700 Melrose Ave is located within a highly desirable submarket to both work and live evidenced by major employers in the area such as Paramount Studios, Ticketmaster, HBO, and Showtime, and new and proposed residential developments nearby such as 7100 Melrose Ave, 700 N Highland Ave, and 6101 Melrose Ave
METRO CRENSHAW/LAX LINE –TRANSIT PROJECT
The Metro Crenshaw/LAX Line will extend from the existing Metro Exposition Line at Crenshaw and Exposition Boulevards. The Line will travel 8.5 miles to the Metro Green Line and will serve the cities of Los Angeles, Inglewood and El Segundo; and portions of unincorporated Los Angeles County. The new Metro Rail extension will offer an alternative transportation option to congested roadways and provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. Riders will be able to make easy connections within the entire Metro Rail system, municipal bus lines and other regional transportation services.
The Crenshaw/LAX Transit Project will serve the Crenshaw District, Inglewood, Westchester and surrounding area with eight stations. The Crenshaw/LAX Project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by Los Angeles County voters in 2008.
SoFi Stadium is a stadium and entertainment complex that opened in 2020 in under construction in Inglewood, California, United States. It is located at the former site of the Hollywood Park Racetrack, approximately 3 miles (4.8 km) from LAX, immediately southeast of The Forum.
The stadium serves as the home for the Los Angeles Rams and Los Angeles Chargers of the National Football League (NFL). It serves as the home of the LA Bowl. During the 2028 Summer Olympics, the stadium is expected to host the opening and closing ceremonies, soccer, and archery.
The new home for the Los Angeles Chargers and Rams will be the largest stadium in the NFL . Costing nearly $5 Billion ( $ 4.963 Billion), the 3 Million sq .Ft . stadium is set to be the largest stadium in the NFL and will be able to seat 70 ,240.
The NFL stadium is only one part of a larger plan . The area around the stadium, known as Hollywood Park, is also under construction and will include about 3 ,000 new residential units, 620 ,000 square feet of shops and restaurants, green space including a manmade lake, and lastly a revamped casino . The new Hollywood Park is expected to be completed in 2023.