Properties | Bronson Apartments

Bronson Apartments

Value-Add Opportunity in Prime Hollywood

1317 N. Bronson Ave | Hollywood, CA

Sales Price: $3,450,000

Units: 16

Price per Unit: $234,375

Price per Sq. Ft.: $368.66

Current CAP: 4.08%

Current GRM: 14.62

Market CAP: 5.60%

Market GRM: 11.88

Year Built: 1928

Lot Size Sq. Ft.: 6,722

Gross Bldg. Sq. Ft.: 10,172

Close of Escrow: 12/01/2017

 The Harris Group, as the exclusive listing agent, is pleased to present the opportunity to acquire Bronson Apartments, a 16-unit multifamily community located at 1317 N Bronson Ave. in Hollywood, CA. Bronson Apartments is comprised of one building totaling 10,172 gross square feet. The offering presents a rare opportunity to acquire an asset in a prominent area of Hollywood with significant value-add potential (over 41% projected upside) via a strategic renovation program. To date, 6 units have been partially renovated. There is an opportunity to continue the renovation and further augment the unit interior to a higher-end luxurious finish, featuring vinyl plank flooring, hard surface countertops, stainless steel appliances, new cabinetry and fixtures, and modern lighting. The unit mix is comprised of (9) studios and (7) one bedroom/one bathroom units averaging 664 square feet.

Bronson Apartments benefits from it’s premier location in the heart of Hollywood. Located across the street from the 300,000 sq. ft. Sunset Bronson Studios, one block from Sunset Blvd, and adjacent to 10M total sq. ft. of office and retail space, Bronson Apartments is positioned to experience sustained and consistent rent growth over the coming market cycle and represents a rare opportunity to acquire a value-add opportunity located in one of the most desirable neighborhoods in all of Los Angeles.

  • Opportunity to Acquire a Value Add Asset in the Prime Hollywood Submarket
  • Attractive Unit Mix that Feature Floorplans Consisting of (9) Studios and (7) 1-Bedroom Units with an Average Unit Size of 664 Square Feet
  • Ability to Renovate Unit Interiors to High-End Luxury Specifications Including Vinyl Plank Flooring, Hard Surface Countertops, Stainless Steel Appliances, New Cabinetry and Fixtures, and Modern Lighting
  • Opportunity to Add Common Area Amenity Space via Creating Modern Outdoor Seating Lounge
  • Across the Street From Sunset Bronson Studios: a 308,000 Sq. Ft. Motion Picture, Radio, and Television Production Facility, and Adjacent to over 6M Sq. Ft. of Office Space and 4.8M Sq. Ft. of Retail Space
  • Sunset Bronson Studios Further Expansion Will Include a 14 Story Office Tower, the“Icon”: Home to Netflix Production Offices and a Five-Story, 90,000 Sq. Ft. Production Building Known as the Hub.
  • Steps Away From “Epic”, a New 15 Story, 300,000 Sq. Ft. High-Rise Office Space
  • Hollywood is Well Poised for Economic Growth Due to a Large Presence in the Healthcare, Entertainment, Business Services, and a Growing Hospitality & Tech/Start-Up Industry
  • Affordability Gap of 328.91% - Homeownership vs. Renting at Bronson Apartments- Heightening Demand for High-Quality Multifamily Housing