LOS ANGELES—Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, has the exclusive listing for Sunset Vine Tower, a 20-story 64-unit mixed-use.

Sunset Vine Tower is located on one of Los Angeles's most prestigious and highly trafficked intersections, the southeast corner of Sunset Boulevard and Vine Street. The building includes nine-story-high super-graphic billboard signage on all four sides of the building and 11,512 square feet of ground floor retail/restaurant space. The property is available on an open-bid basis.

IPA executive vice presidents investments Greg Harris and Ron Harris, along with IPA directors Kevin Green, Joseph Grabiec and Joseph Smolen are representing the seller, a Los Angeles-based fund advisor.

“Sunset Vine Tower is one of the marquee apartment properties in Los Angeles, and also one of its most recognizable buildings,” says Greg Harris. “The striking all-glass exterior and high-end unit finishes create an unbeatable combination of modernist design and classic luxury.”

“As the preeminent luxury community in Hollywood, Sunset Vine Tower is positioned to experience sustained and consistent rent growth over the coming market cycle,” adds Ron Harris. “Also, an existing tentative condominium tract map for the property sets the stage for a potential condominium exit strategy.”

Sunset Vine Tower is located in the heart of Hollywood at 1408 Vine St. The Hollywood Palladium, Sunset Gower Studios and ArcLight Cinerama Dome are across the street, and the Pantages Theatre, Capitol Records, the Hollywood W hotel, and the Hollywood Roosevelt hotel are a few blocks away. The El Capitan Theatre, Dolby Theatre, the TCL Chinese Theatre and the Hollywood & Highland Center are also within walking distance. It was redeveloped as a residential propery from 2006 to 2010.

The property's apartment mix features 38 one-bedroom/one-bath apartments, 18 one-bedroom/two-bath units, four two-bedroom/two-bath units and four two-bedroom/2.5-bath apartments. The interiors feature 13.5-foot floor-to-ceiling windows with ocean, city, mountain, and Hollywood sign views, gourmet kitchens with stainless steel appliances, maple hardwood flooring, in-home washer/dryer, central air conditioning and heating, and secure parking.

To complement its 297-foot tall stature, the tower has a billboard on each side of the building. Each one measures 36 feet wide by 140 feet high. To minimize the obstruction of views from the residential units and to create privacy, the billboards have been placed primarily between stairwells, bathrooms and bedrooms.

Sunset Vine Tower's retail spaces are currently 100 percent leased.

Instant Insights /

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