Why we bought this
A multi-unit building on a double corner lot inside the Hollywood CRA, sold at $1.2M by telling buyers the district's story, not the building's.
Some listings are sold on the block, not the building. This downtown Hollywood multi-unit property sat on a double corner lot inside the Community Redevelopment Agency district, where public investment, incentives, and rising land values do work no renovation budget can match. SunSt listed and sold it at $1,200,000 by marketing the location's trajectory to value-add and development-minded buyers: the CRA boundary, the corner configuration, and the double lot were the headline, and the existing income was the bridge that carries an owner while the district appreciates around the asset. Buyers evaluating condition alone would have underpaid; the buyer who understood the district paid for the position.
What made this one work
- $1,200,000 closing price
- Double corner lot
- Inside the Hollywood CRA district
- Existing multi-unit income in place
- Listed and sold by SunSt
What you're buying
Inside the property
The math behind the deal
See the cap rate, rent roll, comps & exits
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What the numbers mean
A CRA designation channels public investment into a defined area, which tends to lift land values within the boundary faster than outside it. For a seller, that means the correct buyer pool is investors pricing the district's future, not homeowners pricing the present condition.
From the agent
SunSt positioned the listing on district trajectory and lot configuration, targeted value-add buyers, and closed the sale for the seller.
The bottom line
The building collected the rent. The CRA boundary collected the buyer.
Selling investment property in a redevelopment district? Ask SunSt how to price the position, not just the structure.
Common questions
Why did the CRA matter to this sale?+
Community Redevelopment Agency districts concentrate public investment and incentives, which supports land values inside the boundary. Marketing that context attracted buyers pricing the future, not the current condition.
What did the property sell for?+
$1,200,000, with SunSt representing the seller.
Who is the right buyer for a property like this?+
Value-add and development-minded investors who underwrite location trajectory and lot configuration alongside current income.