Fully Entitled Proposed Hotel Site

5041 Lankershim Boulevard, North Hollywood, CA 91601, US

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HVS Brokerage & Advisory, in cooperation with Z. Emil Iskandar, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the fee simple interest in the Lankershim Hotel Development Site, a combined 0.57 acres among four parcels located at 5041–5057 Lankershim Boulevard in North Hollywood, California. This offering presents an opportunity to acquire a fully entitled site approved for the development of a 148-key hotel in one of the fastest growing Los Angeles neighborhoods, NoHo’s increasingly trendy Arts District.

Located on the northwest corner of Lankershim Boulevard and Hesby Street, the site benefits from its highly visible and strategic location with easy access to a multitude of local demand generators, most notably NoHo Arts District and Hollywood Burbank Airport. The site is also close to the city’s tourist attractions, including the Griffith Observatory, Hollywood Bowl, and Hollywood Walk of Fame, as well as Universal Studios Hollywood.



5041-5057 Lankershim Boulevard, North Hollywood, California 91601 

Assessor Parcel Numbers 

2353-010-007, 2353-010-008, 2353-010-009, and 2353-010-017

Total Land Area  

25,021 square feet  

Gross Building Area 

108,391 square feet (4.35:1 FAR) 

Ownership Interest 

Fee simple 

Zoning Designation  

C4 (may be developed with residential use allowed under C4 and R4 zones)

Proposed Building Details 

Approved for a mixed-use building, including a 148-room hotel and 8,900 square feet of restaurant/retail space 


85 onsite parking spaces on the ground level and a subterranean level, 9 spaces with electric vehicle (EV) charging stations, and 17 spaces that will be EV ready


Diverse Demand Drivers

  • The site is located in North Hollywood along Lankershim Boulevard, a major thoroughfare that provides access to Universal City to the south and the Sun Valley neighborhood to the north.

  • The site is proximate to major tourist attractions, including the Griffith Observatory, Hollywood Bowl, and Hollywood Walk of Fame, as well as Universal Studios Hollywood.

  • Hollywood Burbank Airport is an approximately twelve-minute drive to the north of the site.

  • The Burbank area benefits from a diverse economy anchored by entertainment and mass media, but also spanning health care and professional services, among other primary industries.

  • According to the Burbank Chamber of Commerce, approximately 75.0% of the scripted television shows and 25.0% of the movies produced worldwide are filmed in Burbank and surrounding areas, and this media presence has provided a strong economic foundation.

  • Major studios and key employers in the market include The Walt Disney Company, Warner Bros., Universal Studios, Burbank Studios, Providence St. Joseph Medical Center, and Nickelodeon Animation.

Local Lodging Market Performance Surpassed Pre-Pandemic Peak

  • The selected competitive set for the proposed hotel recovered from the effects of the COVID-19 pandemic and the corresponding economic downturn. A RevPAR of $190.18 was registered in 2022, compared to the pre-pandemic peak RevPAR of $180.76 in 2019.

  • Year-to-date through May 2023 data illustrate the continued strengthening of RevPAR levels with a 19.4% year-over-year increase.

Fully Entitled Hotel Development Site

  • The site has been approved for a seven-story, 88-foot-high, mixed-use building to house a 148-room hotel and 8,900 square feet of restaurant/retail space, inclusive of parking on the ground level and a subterranean level.

  • A 19.0% increase from the original allowable density for the site was approved in December 2022 after a process spanning multiple years with the Los Angeles City Council.

  • Ownership has received interest in the project from multiple hotel brands, including the Tribute Portfolio (Marriott) and Hotel Indigo (IHG).

Limited New Hotel Supply

  • The 90-room Cambria Hotel Burbank is currently under construction at 201 South Glenoaks Boulevard, approximately five miles to the east of the Site. The hotel is slated to open in early 2024 and will likely compete for similar commercial and leisure demand given its proximity.



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Investment Sales Contacts

Emil Iskandar

Senior Vice President, Brokerage & Advisory
Los Angeles
+1 (720) 231-3927
CA License #01974770

Eric Guerrero

Senior Managing Director, Partner, Brokerage & Advisory
+1 (713) 955-0012

Bradley Hoban

Vice President, Brokerage & Advisory
Los Angeles
+1 (773) 809-0101