The Sterman Multi-Family Group of Marcus & Millichap is pleased to present 1820 Grace Ave, a 10 unit apartment building located in the heart of Hollywood, a prime neighborhood of Los Angeles, CA. Built in 1953, the property consists of (8) one-bedroom + one-bathroom units and (2) two-bedroom + one bathroom unit. The building is 6,916 gross square feet and sits on a 7,702 square foot lot.

1820 Grace Ave is located on a charming, tree-lined street in Hollywood. There is no shortage of activities to explore in the area. From popular hiking trails of Runyon Canyon and Griffith Park to seeing the Hollywood Walk of Fame.

Hollywood’s central location provides convenient access to major freeways, public transportation, and is only a 5-minute walk to the Hollywood Blvd Metro station further extending the area’s connectivity to the rest of Los Angeles.

1820 Grace Ave represents a unique value-add opportunity for investors due to the property’s location and rental upside. The property offers a initial CAP rate of 5.62% with the ability to improve to a 8.29% CAP rate once units turnover.

‍

10 Unit Apartment Building - 1953 Construction

Excellent Hollywood Location

Close Distance to Hollywood Walk of Fame and Griffith Observatory

Easy Access to the 101 Freeway

Significant Upside in Rents

On-Site Laundry

‍