1813-1817 Grace Ave
Los Angeles, CA 90028
Multifamily Property For Sale · 8 Units

1813-1817 Grace Avenue, in Hollywood, CA. Built in 1924 & 1937, this unique property made up of two fourplexes is being delivered 100% vacant. A true value-add investment or redevelopment opportunity. The lot is approximately 13,256 SF currently zoned {Q} R4-2 in a Tier 3 TOC and is located within a Qualified Opportunity Zone. The buildings feature spacious units made up of one and two-bedrooms. The properties are fully parked with six existing garage spaces as well as tandem spaces at the rear of the property; three existing storage spaces can also be converted to garage spaces. The buildings are separately metered for gas & electric, have individual water heaters as well as central A/C throughout. Furthermore, there is a community laundry room in each building. With the median household income continuing to rise and average home value of over $1.3 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1813-1817 Grace Avenue is ideally situated to benefit from this economic growth as many high wage employee opportunities are within walking distance. The subject property has a walk score of 97 with unparalleled access to nightlife, dining, education and employment opportunities.