Stats

• Sold Price $21,300,000
• Price per Unit $355,000
• Price per SF $316
• Number of Buildings 1
• Number of Units 60
• Gross Building Area 67,329 SF
• Lot Size 32,000 SF
• Floors 4
• Year Built 1972
• Parking 105
• Zoning LAR3-1

About the Property

SOLD!

The Kanner Group is proud to announce the sale of The Hollywood Regency in LA Proper/West Hollywood at 1635-1639 N Martel Ave, a rare opportunity to purchase an exceptionally well-located trophy 60-unit, 4-story, Hollywood Regency inspired architecture, value-add multi-family investment opportunity. The property is situated just south of Hollywood Blvd and 4 blocks west of La Brea Ave, in the highly desirable LA proper part of West Hollywood, just 2.5 blocks north of the city of West Hollywood’s eastern edge.

With a Walk Score of 93, the property’s Hollywood location (2 blocks south of the Runyon Canyon Trailhead and just over 1 mile from the 101 FWY) offers residents easy access to the countless shopping, dining, entertainment, and recreation options of West Hollywood, the Sunset Strip, Beverly Hills, and the revitalized Downtown Los Angeles—8 miles to the southeast.

The Hollywood/Highland Red Line Metro station is 0.7 miles due west at the Hollywood/Highland Shopping Mall. The Chinese Theatre, The Hollywood Roosevelt Hotel, El Capitan Theatre, Dolby Theatre, all line Hollywood Blvd. within 0.7 miles to the east of the property. The building is 1.3 miles southwest of the 101 freeway at Highland Ave., adjacent to LA’s premier concert venue— The Hollywood Bowl.

The Hollywood Regency Apartments was a well-positioned value-add investment, with potential to implement a higher-end unit/common area renovation program optimizing market rents, appreciation, and future returns.