The Casa Palmera

For Sale

1843 N Cherokee Avenue, Los Angeles, CA 90028

This Los Angeles property for sale is located at 1843 N Cherokee Avenue. Contact the listing broker for details on the current sale price for The Casa Palmera. The Casa Palmera is situated on a lot that is 0.52 acre in size.

Contacts

broker
Jakob Friedman

NAI Capital

Property Details

  • Property Type Multi-Family
  • Property Size 50,528 SF
  • Units 60
  • Lot Size 0.52 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1926
  • Date Updated May 16, 2025
Stunning Hollywood historic building located in the heart of Hollywood CA just steps from Legendary Hollywood Blvd, Shops, and the Hollywood Bowl. You’ll enjoy coming home to a Lush Garden landscape and classic architecture. Varying floor plans offer a chic and classic touch of modern style.THE DIXON MULTI-FAMILY TEAM of NAI Capital is pleased to present The Casa Palmera, a 60-unit trophy asset located in the heart of Hollywood—one of the most in-demand rental markets on the planet. This rare offering combines scale, stability, and meaningful upside, situated just steps from world-renowned entertainment, transit, and employment hubs. Comprised of 23 studios, 23 two-bedroom/two-bath units, and 14 one-bedroom/one-bath units, The Casa Palmera delivers an exceptional unit mix that captures a broad tenant base. The property is individually metered for gas and electric, and benefits from significant capital improvements, with all major systems recently updated. Generating $1.5 million in annual gross income today, the property is strategically positioned for sustained rent growth, with a forecasted $2.0 million in annual income by year six. Positioned within an established Opportunity Zone, this asset presents a compelling investment opportunity with the potential for tax-deferred gains and long-term tax-free growth. Investors can leverage powerful federal incentives to unlock outsized returns while acquiring a stabilized asset in a highly desirable market.
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Highlights

  • Trophy Asset in Core Hollywood Location
  • In-Place 6% Cap Rate & 10.5 GRM.
  • Located Within a Designated Opportunity Zone
  • Significant Capital Improvements Completed
  • Individually Metered for Gas and Electric
  • Major Systems Fully Updated
  • Assumable Financing, 9.5m at 6.4% I/O through 2028

Getting around

  • 97/100

    Walk Score ®

  • 68/100

    Transit Score ®

  • 61/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Los Angeles, CA
  • Neighborhood Hollywood
  • Zip Code 90028
  • Market Los Angeles

Points of Interest

  • Hollywood/Highland

    0.30 miles

  • Hollywood/Vine

    0.58 miles

  • Hollywood/Vine Station

    0.59 miles

  • Hollywood/Western

    1.51 miles

  • Hollywood/Western Station

    1.54 miles

  • RideShare Pickup/Dropoff Point

    2.26 miles

  • Vermont/Sunset

    2.53 miles

  • Vermont/Sunset Entrance

    2.53 miles

  • Farmer's Market

    2.63 miles

  • Vermont/Santa Monica

    2.65 miles

  • VP

    0.23 miles

  • Chevron

    0.30 miles

  • Mobil

    0.59 miles

  • Arco

    0.71 miles

  • 76

    0.97 miles

  • Tesla Supercharger

    2.71 miles

  • Parking electrique

    4.02 miles

  • FLO

    5.04 miles

  • ChargePoint

    5.69 miles

  • Electric Vehicle Charging Station

    6.36 miles

  • Hilton Garden Inn Valet

    0.21 miles

  • Hollywood & Highland Center

    0.29 miles

  • Lot D

    0.33 miles

  • Lot C

    0.41 miles

  • Lot B (Odin Lot)

    0.46 miles

  • Lot A

    0.64 miles

  • Ford Theater Parking Area

    0.73 miles

  • Parking Lot A

    0.99 miles

  • Parking Structure A, B ,C

    1.00 miles

  • Sunset Las Palmas Studios Garage

    1.03 miles

  • Motel 6 Los Angeles - Hollywood

    0.17 miles

  • ReTan

    0.18 miles

  • Ray W. Suites

    0.20 miles

  • Holiday Inn Express & Suites

    0.20 miles

  • BLVD

    0.21 miles

  • Hilton Garden Inn

    0.21 miles

  • Hotel Lexen

    0.22 miles

  • Trylon hotel

    0.22 miles

  • Best Western Hollywood Plaza Inn

    0.25 miles

  • Loews Hollywood Hotel

    0.26 miles

  • Ovation Hollywood

    0.30 miles

  • Marshalls

    0.44 miles

  • Target

    0.45 miles

  • Trader Joe's

    0.58 miles

  • Ross

    0.67 miles

  • Ralphs

    0.86 miles

  • Mother's

    0.93 miles

  • Gelson's Market

    1.02 miles

  • Sprouts Farmers Market

    1.30 miles

  • Beachwood Market

    1.33 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Jakob Friedman

NAI Capital

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