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1836 N Gramercy Place, Hollywood, CA 90028

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1836 N Gramercy Place
Hollywood, CA 90028

For Sale: $11,950,000

Property Type: Commercial Apartments
MLS#: SR18149736

  • Building Size: 19665 SF
  • Lot Size: 20038 SF
  • Number of Units: 28
  • Number of Stories: 2
  • Year Built: 1964
  • Days on market: 176
  • Net Operating Income: $488,872
  • Rent Control: No
  • Contact Listing Agent Direct:
  • Warren Berzack, Lee & Associates

Property Description

PRICE REDUCED!!! 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. 22 of the total 28 units have been fully renovated and are successfully achieving top rents for the market. The remaining 6 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 $61,777. 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.

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1836 N Gramercy Place, Hollywood, CA 90028

Based on information from California Regional Multiple Listing Service, Inc. as of December 4, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Listing provided by: Warren Berzack, Lee & Associates

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