Properties | Tamarind Terrace

Tamarind Terrace

112-Unit Apartment Community in Hollywood, CA

1950 Tamarind Ave | Hollywood, CA

Sales Price: N/A

Units: 112

Price per Unit: N/A

Price per Sq. Ft.: N/A

Current CAP: N/A

Current GRM: N/A

Market CAP: N/A

Market GRM: N/A

Year Built: 1974

Lot Size Sq. Ft.: 44,866

Gross Bldg. Sq. Ft.: 1100,682

Net Rentable Sq. Ft.: 86,020

Close of Escrow: 3/2/2018

The Harris Group, as the exclusive listing agent, is pleased to present the opportunity to acquire Tamarind Terrace, a 112-unit, fully amenitized, value-add opportunity located in the Hollywood Hills of Los Angeles.

Offered for sale for the first time in over 25 years, Tamarind Terrace represents a truly “once-in-a-generation” buying opportunity. Although most of the units have been well-maintained in their original condition, investors can add significant value to the property through a comprehensive renovation program. Additionally, the 10,000+ SF of common area offers investors a blank canvas to reimagine the shared amenity space at the property.

Beyond the appeal of the property itself, the Hollywood submarket has emerged as the epicenter of the content and media movement in the entertainment industry. Approximately one million square feet of new office space has been delivered in the market in the past 18-24 months and rapidly absorbed by preeminent employers such as Netflix and Viacom bringing thousands of high-paying jobs to the area. Residents at Tamarind Terrace are also within a short walk of Franklin Village and within driving distance of world-class shopping, dining, nightlife, and entertainment in Hollywood.

The opportunity to acquire a 100+ unit apartment community in the Hollywood Hills, with significant value-add potential, that is poised to capitalize on the positive economic drivers currently ongoing in Hollywood, is extremely rare and truly represents one of the premier offerings in Southern California.