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5/15/26
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Sophia Hollywood, a Class A, 28‑unit multifamily community in Hollywood traded in a recent $16 mil ($571.4k/unit) transaction. The 40.3k sf asset is located at 1759 N. Gower St, east of Cahuenga Blvd between Hollywood Blvd and the 101 Fwy.
Completed in 2024, Sophia Hollywood was designed to condominium-quality standards, creating a long-term conversion opportunity for the buyer. The property features a fitness center, contemporary lobby, common spaces, and gated parking at 1.75 spaces per unit. This parking ratio is exceptionally rare for a newly constructed urban infill multifamily product.
The property further distinguishes itself through luxury design elements, including 9-foot ceilings, 7.5-foot doors, expansive balcony spaces, high-gloss white cabinetry with soft-close hardware, stainless steel appliances, recessed lighting, glass-enclosed baths, and in-unit laundry, together positioning the property as a highly differentiated offering within the multifamily market.
Vice Chair Kitty Wallace of Colliers represented the seller in the transaction, which we’re told came in at the highest price per unit in Hollywood in over three years.
The sale reflects a growing trend among sophisticated multifamily investors who are increasingly viewing the recent dislocation across California and Los Angeles real estate markets as a buying opportunity. While some capital groups have reduced exposure, a new wave of investors has emerged seeking to capitalize on a historically attractive entry basis for newly constructed assets.
“What differentiated Sophia Hollywood was the combination of newer construction, condominium-quality design, and larger floor plans that are increasingly difficult to deliver with elevated development costs and interest rates,” said Kitty Wallace. “The property offers a level of unit quality, parking, and long-term optionality that resonates with investors. Even with the asset achieving market-leading pricing metrics, the basis remained below what it would cost to replicate in today’s construction environment.”
Wallace notes that investors continue to focus on long-term housing fundamentals across Los Angeles, particularly the widening gap between the cost of renting and homeownership, alongside a chronic housing shortage that continues to constrain overall supply growth in the region.
“Today’s buyers are thinking beyond short-term market volatility,” she added. “Los Angeles remains an important employment and cultural hub, and there is a growing recognition that high-quality housing in infill locations will continue to be difficult to build and increasingly valuable over time.”
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