Madison Partners is pleased to offer for sale The Avondale, a 58 unit, multifamily community located at 1825 N. Cahuenga Boulevard in Hollywood, California. Situated just one block north of Hollywood Boulevard, the property is in the heart of one of the most desirable submarkets in Los Angeles. In addition, ownership has recently invested $800,000 in improvements to the property.
The Avondale is a charming, Italian Renaissance building with a large, beautifully restored lobby. The unit interiors have been renovated to provide the hip, urban living spaces that attract young millennial residents to the area. Most renovated apartments offer refinished hardwood flooring, exposed brick walls, stainless steel appliances, granite or quartz countertops, designer light fixtures, ceiling fans, and pedestal sinks, among other improvements. The neighboring single-story retail buildings provide the Avondale with unparalleled views of the Los Angeles skyline and the famous Hollywood sign.
The Avondale is literally located at the center of Hollywood' s magic. This neighborhood is rich in both culture and history and is surrounded by Hollywood' s most famous landmarks, restaurants, theaters, shopping, and nightlife. This is truly one of the most dynamic and desirable places for renters to live in all of Los Angeles, and not surprisingly, is also one of the strongest residential markets in the city.
»»Area restaurants include: Cleo, Katsuya, Beso, Yamashiro, and Public Kitchen & Bar.
»»Area amenities include: W Hollywood Hotel, The ArcLight Cinemas, Avalon Nightclub, Pantages Theatre,The Fonda Theater, The Hotel Cafe, The Argyle, El Capitan Theatre, Dolby Theatre, and Roosevelt Hotel.
»»Over $4.8 billion in public and private development throughout the submarket.
»»Hollywood is the top tourist attraction in Los Angeles County, with an estimated 11.9 million visitors annually.
»»25 post-secondary schools with ties to the entertainment industry are located in Hollywood, a vast majority of which do not provide on-site student housing. The schools boast a total annual enrollment in excess of 20,500 students.
