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The Harlan Residences 6531-6533 Hollywood Blvd

54 Unit Block of Flats £20,513,999 (£379,889/Unit) 4.41% Net Initial Yield Los Angeles, CA 90028

Investment Highlights

  • Registered Hollywood landmark
  • Proximity to retail, dining and entertainment

Executive Summary

CBRE Inc., as exclusive advisor to the Seller, is proud to present the Harlan Residences at 6533 Hollywood Blvd. in Los Angeles. The Harlan is a registered Hollywood landmark with an incredible legacy of old Hollywood and modern adaptability located on the world famous Hollywood Walk of Fame. Ownership has spared no expense in modernizing this historic asset while carefully retaining its irreplaceable aesthetic.
Built circa 1917 by Hollywood mogul Jesse Lasky and financed, in part, by the pronounced “King of Hollywood” Douglas Fairbanks, the Harlan is composed of 54 apartment units over approximately 8600 square feet of retail. Apartments feature hardwood flooring, stainless steel appliances, storage built-ins and in-unit washers and dryers. Residential tenants enjoy a private rear outdoor patio and secure entry via a state-of-the-art facial recognition system powered by the Swiftlane software and mobile app. The Harlan’s first floor nightclub, restaurant, bar and performance/ event spaces hearken back to a time of prohibition, speakeasies and the golden age of Hollywood. Houston Hospitality (www.houstonhospitalityla.com), a premiere LA nightlife operator and visionary, leases the entirety of the Harlan’s retail spaces on a triple net basis with 3% annual increases. Across these unique spaces, Houston currently operates Madame Siam, an exclusive lounge and event space; Dirty Laundry, a speakeasy bar in the style of the 1920s with private rooms used often by celebrity and industry players and; Black Magic Rose, a magic-themed nightclub including a theater and tavern.
Atop the Harlan is a recently re-engineered double-sided billboard leased to a best-in-class media group on revenue-share terms highly favorable to ownership. Overall, the asset is essentially turn-key, with roof, plumbing, HVAC, electrical replaced in the mid-2000s and a complete cosmetic upgrade performed in 2021-2022. Parking is provided via a license agreement with a nearby operator.
Hollywood, a vibrant and iconic neighborhood in Los Angeles, is known as home to the global entertainment industry. Its iconic landmarks, including the Hollywood Walk of Fame, Grauman’s Chinese Theatre, and the Hollywood Sign, are globally recognized symbols of the area. The neighborhood’s diverse population is a captivating blend of cultures and lifestyles, attracting individuals from all walks of life. Hollywood’s nightlife is equally vibrant, offering an array of bars, clubs, and live music venues.
The area also boasts a diverse culinary scene, ranging from upscale eateries like Mother Wolf to casual hotspots like Roscoe’s Chicken and Waffle House. Its ideal location, walkability, and easy access to public transport make this a highly sought-after neighborhood for renters. Just 6 miles from Downtown Los Angeles and 2.5 from West Hollywood, Hollywood attracts young professionals, creatives and affluent renters looking for a fun and amenity-rich neighborhood.
Please visit the Property Website to access the Offering Memorandum.

Property Facts

Price £20,513,999
Price Per Unit £379,889
Sale Type Investment
Net Initial Yield 4.41%
No. Units 54
Property Type Residential
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Mid Rise
Building Class A
Lot Size 0.38 AC
Building Size 63,374 SF
Average Occupancy 96%
Number of Floors 4
Year Built/Renovated 1917/2022
Opportunity Zone Yes

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Microwave
  • Washer/Dryer
  • Heating
  • Crown Moulding
  • Kitchen
  • Granite Countertops
  • Wooden Floors
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Walk-In Closets
  • Patio

Site Amenities

  • Controlled Access
  • Property Manager on Site
  • Gated
  • On-Site Retail
  • Lift

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 28 - 475
1+1 13 - 700
2+1 10 - 1,100
2+2 3 - 1,118
Walk Score ®
Walker's Paradise (99)
Transit Score ®
Excellent Transit (70)
Bike Score ®
Very Bikeable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5547-008-001
Land Assessment
£7,051,321
Improvements Assessment
£8,709,490
Total Assessment
£15,760,811

zoning

Zoning Code LAC4 (Commercial C2 Uses with Limitation, R4 Uses)
LAC4 (Commercial C2 Uses with Limitation, R4 Uses)
  • Listing ID: 32935840

  • Date on Market: 23/08/2024

  • Last Updated:

  • Address: 6531-6533 Hollywood Blvd, Los Angeles, CA 90028

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