213-359-4843
5529-5533 Hollywood Blvd, Los Angeles, CA for Sale
Apartments - FOR SALE
1/16
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5529-5533 Hollywood Blvd
Los Angeles, CA 90028
Hollywood


HIGHLIGHTS

  • Hip historic experience - featuring a unique blend of classic architectural character and modern urban design, The Gershwin consists of four buildings
  • Substantial prior capital investment mitigates future capex risk
  • Attainable housing catering to deepest renter segment
  • High-exposure retail with durable income stream
  • Compelling going-in yield with embedded upside
  • Access to top-tier employment centers

OVERVIEW

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. Execute the CA to access due diligence documents at the following link: http://www.gershwin-cushman.com 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.

FOR SALE DETAILS

PRICE

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# OF UNITS

196

CAP RATE

Request Cap Rate

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Gershwin

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1927

PARKING SPACES

46

LAND DETAILS

LAND ACRES

1.16 AC

LAND SF

50,657 SF

ZONING

LAR5, LAC4

APN/PARCEL ID

5544-005-003,5544-005-004,5544-005-031

ASK ABOUT THIS PROPERTY

Marc RenardCushman & WakefieldMore Info
213-359-4843

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Marc RenardCushman & WakefieldMore Info
213-359-4843

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.