Hollywood is known for its world renowned entertainment industry, unparalleled retail and shopping destinations, and a nonstop, vibrant culture.
Some of the area's most notable amenities include the Hollywood Pantages Theater, the Walk of Fame, and the Hollywood Palladium. The property
is a one block walk from the Vine Street and Santa Monica Boulevard intersection, which hosts a wide array of shopping and dining.
Desirability to own in the Hollywood market is furthered by its consistent development. There are over 30 on-going projects in the area that are set to
bring 4,000 more apartment units and over half a million square feet of office and retail space; specifically, 6677 Santa Monica Blvd (9 blocks west
of subject property) will bring 695 apartment units, 20,000 square feet of retail, and is set to be complete in late 2019. 1341 Vine Street (6 blocks
north of subject property) will bring 335,000 square feet of office space, 13,000 square feet of retail space, and is set to open in early 2020.
Constructed in 1960, the property features a competitive unit mix of one (1) studio/one bathroom unit, seven (7) one bedroom/one bathroom units,
and one (1) two bedroom/ one bathroom unit. Tenants enjoy onsite parking, gated entry, and excellent setback and privacy from the main street.
The property is also situated within a designated Opportunity Zone.
Situated in the heart of Hollywood, this offering presents an excellent opportunity for an investor to acquire in a prime location and dense rental
pocket with great upside potential.
