Just Sold: 1825 N Gramercy Place, Hollywood, CA 90028 – 36-Unit Multifamily Property Sold in Under 3 Weeks

Jared Levine of JML Real Estate Group and Sherman & Levine of KW Commercial are proud to announce the successful sale of 1825 N Gramercy Place, Hollywood, CA 90028, a 36-unit multifamily property located in the heart of Hollywood, California.

This transaction highlights how disciplined underwriting, strategic marketing, and deep market knowledge continue to create opportunities — even in today’s evolving Los Angeles multifamily investment landscape.

The property generated multiple offers and successfully closed escrow in under three weeks, demonstrating continued investor demand for well-located value-add multifamily assets in prime Los Angeles submarkets.

Deal Summary

Sale Metrics

• Sale Price: $5,050,000

• Cost Per Unit: $140,277

• Cost Per Foot: $173.63

• In-Place GRM: 9.3+/-

  
  

Property Details

• 36 Units

• 29,085 SF Building

• Built in 1968

• Multiple Offers Generated

• Closed in Under 3 Weeks

Property Highlights

Investment Features

• Prime Hollywood Location

• Gramercy & Franklin Corridor

• Two Vacant Units

• Value-Add Opportunity

• Elevator

• On-Site Laundry

• Secured Access

• Parking

Prime Hollywood Location Near Franklin Village

1825 N Gramercy Place is strategically located near the intersection of Gramercy Place and Franklin Avenue, one of Hollywood’s most established and desirable multifamily corridors.

The property benefits from close proximity to:

• Franklin Village

• Hollywood Boulevard

• Los Feliz

• Thai Town

• Griffith Park

• Major employment and entertainment hubs

  
  

This central location continues to attract strong tenant demand due to its blend of:

• Walkability

• Access to entertainment and dining

• Proximity to studios and creative employers

• Transit accessibility

• Historic Hollywood character

• Strong rental demand fundamentals

  
  

The Franklin corridor remains one of Hollywood’s more stable and desirable residential pockets, attracting a diverse tenant base ranging from entertainment professionals to young urban renters seeking access to both lifestyle amenities and employment centers.

Value-Add Opportunity in a Competitive Market

Investor interest in 1825 N Gramercy Place was driven by several key factors that continue to shape the Los Angeles multifamily market:

1. Attractive Basis

The transaction closed at approximately:

• $140,277 per unit

• $173.63 per square foot

which represented an attractive basis for a large Hollywood multifamily asset.

2. Rental Upside Potential

With two vacant units and additional operational upside, investors saw the opportunity to improve long-term cash flow through strategic management and unit turnover.

3. Strong Building Amenities

Features such as:

• Elevator access

• Parking

• Secured entry

• On-site laundry

remain highly desirable for tenants and continue to support long-term occupancy and rental growth.

4. Strong Investor Demand

Despite broader market adjustments across Los Angeles multifamily, quality assets in infill locations continue to attract aggressive investor interest when priced appropriately.

The property ultimately generated multiple offers and closed escrow in less than three weeks, reflecting continued confidence in well-located multifamily investments throughout Hollywood and surrounding submarkets.

Los Angeles Multifamily Market Update

The Hollywood multifamily market continues to evolve as investors become increasingly focused on:

• In-place cash flow

• Long-term rental growth

• Basis relative to replacement cost

• Neighborhood trajectory

• Value-add opportunities

• Operational efficiencies

Well-positioned apartment buildings with strong locations and upside potential continue to command significant attention from private and institutional investors alike.

Thinking About Selling Your Apartment Building?

If you own a multifamily property in:

• Hollywood

• Los Feliz

• Silver Lake

• Echo Park

• Koreatown

• East Hollywood

• Greater Los Angeles

• San Fernando Valley

• Ventura County

  
  

…and would like a confidential opinion of value, we would be happy to discuss current market conditions, investor demand, and strategic positioning opportunities.

At JML Real Estate Group, we specialize in multifamily investment sales throughout Los Angeles and Ventura County with a focus on sophisticated underwriting, targeted marketing, and maximizing seller proceeds through strategic investor exposure.

Contact us today! 818.657.6556 or jared@jaredmlevine.com