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$ 3,859,000
Est. payment | /mo
10,588 SqFt
$ 3,859,000
Est. payment | /mo
10,588 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,588 sqft
Price per Sqft $364
MLS Listing ID CL26862371
HOA Y/N No
Year Built 1910
Lot Size 10,402 Sqft
Acres 0.2388
Property Sub-Type Other
Property Description
The Grace Apartments is an outstanding investment with huge upside potential. 1918 N Grace Ave sits in an A+ north-of-Hollywood Boulevard enclave, where premier lifestyle amenities and consistent rental demand converge. The gated property comprises 18 one-bedroom units, offered at $214,389 per unit, with an in-place 6.0% cap rate and upside to approximately a 10.5% cap. The building features an authentic Hollywood-cool architectural presence, abundant natural light, and curated exterior artwork by Keene Visions, reinforcing its creative appeal and neighborhood character.Positioned moments from the Hollywood Bowl, Franklin Village, major film and television studios, and a deep roster of dining and entertainment destinations, the asset consistently attracts young professionals and creative-industry tenants. Additional highlights include 10 gated on-site parking spaces and a Walk Score of 96,placing the property among the most walkable residential locations in Los Angeles.From an operational standpoint, the property offers immediate income growth. Eight of the 18 units have been renovated, with select units featuring in-unit laundry,supporting meaningful rent premiums. For investors evaluating subsidized rental strategies, HACLA payment standards in the desirable 90068 zip code reach up to$2,805 for a one-bedroom. Even at a conservative $2,595 pro forma rent, the property reflects approximately 50% rental upside. Long-term residents further enhance stability while providing a predictable path to incremental rent growth as units naturally turn. The expansive 10,399 sq. ft. R4 lot, combined with open yard areas and elevated topography, creates the potential to add up to eight detached ADUs with panoramic city views. This unlocks multiple value-add strategies, from yield enhancement through additional rental units to longer-term redevelopment potential. 1918 N Grace Ave delivers a rare combination of character, cash flow, rental upside, and expansion potential in one of Hollywood's most coveted sub-markets. Few multifamily opportunities offer this level of existing income, built-in growth, and long-term flexibility making it an exceptional acquisition for both yield-focused buyers and strategic investors seeking a flagship asset in core Hollywood's premier 90068 pocket. This 18-unit Hollywood apartment building in an A+ north-of-the-Boulevard location (96 walk score) on a 10,399 SF lot, featuring spacious one-bedroom units with city views. Strong in-place valuat
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Wall Furnace
Flooring Wood
Fireplace No
Exterior
View Y/N true
View City Lights
Building
Water Public, Other
New Construction No
Others
Tax ID 5575002013
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Listed by Mark Konopaske • Mark Konopaske
NEARBY SCHOOLS & PROPERTIES
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