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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$4,095,000

Est. payment - /mo

18 Beds

18 Baths

10,588 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 10,588 sqft

Price per Sqft $386

MLS Listing ID 26862371

Bedrooms 18

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1910

Lot Size 10,402 Sqft

Property Description

The Grace Apartments is an outstanding investment with huge upside potential. 1918 N Grace Ave sits in an A+ north-of-Hollywood Boulevard enclave, where premier lifestyle amenities and consistent rental demand converge. The gated property comprises 18 one-bedroom units, offered at $227,500 per unit, with an in-place 5.6% cap rate and upside to approximately 10.5%. The building features an authentic Hollywood-cool architectural presence, abundant natural light, and curated exterior artwork by Keene Visions, reinforcing its creative appeal and neighborhood character.Positioned moments from the Hollywood Bowl, Franklin Village, major film and television studios, and a deep roster of dining and entertainment destinations, the asset consistently attracts young professionals and creative-industry tenants. Additional highlights include 10 gated on-site parking spaces and a Walk Score of 96,placing the property among the most walkable residential locations in Los Angeles.From an operational standpoint, the property offers immediate income growth. Eight of the 18 units have been renovated, with select units featuring in-unit laundry,supporting meaningful rent premiums. For investors evaluating subsidized rental strategies, HACLA payment standards in the desirable 90068 zip code reach up to$2,805 for a one-bedroom. Even at a conservative $2,595 pro forma rent, the property reflects approximately 50% rental upside. Long-term residents further enhance stability while providing a predictable path to incremental rent growth as units naturally turn. The expansive 10,399 sq. ft. R4 lot, combined with open yard areas and elevated topography, creates the potential to add up to eight detached ADUs with panoramic city views. This unlocks multiple value-add strategies, from yield enhancement through additional rental units to longer-term redevelopment potential. 1918 N Grace Ave delivers a rare combination of character, cash flow, rental upside, and expansion potential in one of Hollywood's most coveted sub-markets. Few multifamily opportunities offer this level of existing income, built-in growth, and long-term flexibility making it an exceptional acquisition for both yield-focused buyers and strategic investors seeking a flagship asset in core Hollywood's premier 90068 pocket. This 18-unit Hollywood apartment building in an A+ north-of-the-Boulevard location (96 walk score) on a 10,399 SF lot, featuring spacious one-bedroom units with city views. Strong in-place valuation at $227k/unit and a 5.6% Cap Rate and 11.2 GRM, with upside to a 10.5% Cap Rate Significant value-add potential with room for eight detached ADUs to further boost long-term revenue and overall return

Location

State CA

County Los Angeles

Area C03 - Sunset Strip - Hollywood Hills West

Zoning LAR4

Interior

Heating Wall Furnace

Flooring Wood

Fireplaces Type Bath, Gas, Kitchen, Living Room

Fireplace Yes

Appliance Refrigerator

Exterior

Parking Features One Space

Pool None

Community Features Gated

View Y/N Yes

View City Lights

Accessibility None

Porch None

Total Parking Spaces 10

Private Pool No

Building

Faces West

Story 3

Entry Level Multi/Split

Foundation Concrete Perimeter, Slab

Sewer Sewer Tap Paid

Water Public

Level or Stories Multi/Split

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5575002013

Security Features Gated Community

Acceptable Financing Cash

Listing Terms Cash

Financing Cash

Special Listing Condition Standard

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Listed by Mark Konopaske Mark Konopaske #00960857

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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

1918 Grace AVE Los Angeles, CA 90068

Ernie Caponera

Key Details

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Interior

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1918 Grace AVE