The Gershwin 5529-5533 Hollywood Blvd 196 Unit Apartment Building For Sale Los Angeles, CA 90028

Cushman & Wakefield, Inc., as exclusive advisor, is pleased to offer for sale The Gershwin (the “Property”), a 196-unit collection of apartment buildings with 10,565 square feet of retail and a surface parking lot at the convergence of East Hollywood, Los Feliz, and Silver Lake. The Property pairs historic charm with curated modern upgrades and extensive amenities to create a boutique, hotel-inspired experience that stands apart from commoditized product. Backed by improving fundamentals and the return of urban rent growth, The Gershwin offers a compelling opportunity to generate superior returns with limited risk.
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HIP HISTORIC EXPERIENCE – Featuring a unique blend of classic architectural character and modern urban design, The Gershwin consists of four buildings including bungalow residences. Anchored by an iconic red-brick facade, the Property offers numerous amenities including a fitness center, outdoor courtyard, multimedia lounge, and parking.
SUBSTANTIAL PRIOR CAPITAL INVESTMENT MITIGATES FUTURE CAPEX RISK – The Gershwin has benefited from significant capital improvements across unit interiors, common areas, and key building systems, materially reducing near-term capital requirements.
ATTAINABLE HOUSING CATERING TO DEEPEST RENTER SEGMENT – The Gershwin’s attractive entry-level rents appeal to the market’s largest renter base, creating a powerful demand tailwind that enhances occupancy, mitigates volatility, and supports durable rent growth.
HIGH-EXPOSURE RETAIL WITH DURABLE INCOME STREAM – 10,565 square feet of retail along Hollywood Boulevard is 88.8% leased to a curated tenant mix - driving foot traffic, enhancing the resident experience, and underpinning a resilient, income-producing retail component.
COMPELLING GOING-IN YIELD WITH EMBEDDED UPSIDE – The Gershwin delivers strong initial cash flow with a clear path to higher returns through continued unit renovations, realized rent premiums, and operational optimization.
THE RETURN OF URBAN OUTPERFORMANCE – Supported by compelling supply-demand fundamentals, Moody’s projects average annual rent growth of 4.06% in Hollywood over the next decade.
ACCESS TO TOP-TIER EMPLOYMENT CENTERS – Immediate access to key transit corridors and a Metro Rail station 200 feet away enables efficient commutes across Los Angeles’ core employment hubs.