Residential Income Details
Gramercy Hollywood is an ultra-slick, modern, recently renovated apartment community with top of the line amenities in a coveted location within Hollywood, California. Set on a 20,038 square foot lot, this attractive 19,665 gross rentable square foot property is crafted with structural simplicity, sleek finishes and clean lines. Originally built in 1964, the property offers open floor plans, exquisite attention to detail and an unbeatable location with superb freeway and bus access. 21 of the total 28 units have been fully renovated and are successfully achieving top rents for the market. The remaining 7 unrenovated units present a 20%+ upside in rents. The unit mix includes 5 two-bedroom units, 17 one-bedroom units and 6 studios, for a total current scheduled monthly income of $60,411.
With world-class shopping and dining, red carpet movie premieres, celebrated live theatre and over 70 brand-name retailers in the immediate area, the property’s location offers endless possibilities. It lies in close proximity to many local hotspots and iconic landmarks, including the Hollywood Walk of Fame, El Capitan Theatre, Dolby Theatre (home of the Academy Awards®) and TCL Chinese Theatre (formerly Grauman’s). The property also sits less than two miles from the major Hollywood & Highland entertainment center of Los Angeles.
|Number of Units||28|
|Listing Brokerage||Lee & Associates|
|Listing Agent||Warren Berzack|
|Listing Agent BRE #||01329015|
|Heating||Central Furnace,Wall Heater|
Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, July 24, 2018.
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