Would this property be a good development opportunity? I'm still not sure about Sunset near Hollywood.
[{"id": "csgefzw", "text": "I don't see it as a development at all. The building looks to be in good condition, i cant imagine you would gain much from doing anything besides raising rents to meet market prices and maybe fill vacancies if that's even an option.  On top of that there looks to be no info on the financials on the online packet which means the cap is prolly around 3.5 - 4.0 actual at best. \nObviously, as usual, hollywood is super tight. Idk what your plan is, but na man, from a development standpoint, there is nothing there.  \n", "replies": [{"id": "csgf9cb", "text": "agreed. and I'd venture to say it's below a 3 cap. \n\nLook beyond Hollywood and LA if you want to develop. Otherwise you're paying a huge premium. ", "replies": [], "depth": 2}], "depth": 1}]