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Hollywood Apartment Property Offered for Sale at $267/Unit

5/26/25

In news of an interesting multifamily listing in Hollywood, The Casa Palmera, a 60-unit property, has been put on the market with an asking price of $16 mil, or $267/unit. The property is located at 1843 N. Cherokee Ave, north of Hollywood Blvd and east of Highland Ave. It is located just steps from major entertainment, transit, and employment centers.

The asset comprises 23 studios, 23 two-bedroom/two-bath units, and 14 one-bedroom/one-bath units—an exceptional unit mix designed to attract a wide range of tenants. Individually metered for gas and electric, the property has benefited from substantial capital improvements, with all major systems recently upgraded.

Located within an established Opportunity Zone, The Casa Palmera presents a compelling investment opportunity with the potential for tax-deferred gains and long-term tax-free growth under federal guidelines.

Michael Dixon, Jakob Friedman and Kyler Walterson of the Multifamily Services Group at NAI Capital Commercial have the listing. According to NAI Capital, the property is being offered at an in-place 6% cap rate and 10.5 gross rent multiplier (GRM), providing long-term upside for the buyer.




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