The Casa Palmera

1843 N Cherokee Avenue, Los Angeles, CA 90028

  • For Sale Contact Broker
  • 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

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

Contacts

broker
Jakob Friedman

NAI Capital

Location

Getting Around

  • Walk Score ®

    97/100 Walker's Paradise

  • Transit Score ®

    68/100 Good Transit

  • Bike Score ®

    61/100 Bikeable
Powered by Walk Score ®
  • 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

  • Pizza Bella

    0.12 miles

  • Wingstop

    0.13 miles

  • Subway

    0.14 miles

  • shintaro

    0.14 miles

  • Cabo Cantina

    0.18 miles

  • Musso & Frank

    0.18 miles

  • Rusty Mullet

    0.19 miles

  • Stefano's - Two Guys from Italy

    0.20 miles

  • Kino Sushi

    0.21 miles

  • Juicy

    0.22 miles

  • Musicians Institute

    0.27 miles

  • Selma Avenue Elementary School

    0.29 miles

  • LOS ANGELES MAKE-UP SCHOOL

    0.36 miles

  • Blessed Sacrament School

    0.47 miles

  • Hollywood High School

    0.47 miles

  • Hollywood Senior High School

    0.47 miles

  • The Los Angeles Film School

    0.57 miles

  • Freshi Flix Film Camp (summer only)

    0.65 miles

  • American Academy of Dramatic Arts

    0.81 miles

  • Cheremoya Avenue Elementary School

    0.81 miles

  • Vine Street Early Education Center

    1.13 miles

  • Komitas

    2.76 miles

  • Morning Star Education Center

    2.87 miles

  • Disney Children's Center

    3.78 miles

  • Neighborhood Nursery School

    4.07 miles

  • Mary Alice O'Connor Family Center

    4.22 miles

  • Coldwater Preschool

    4.47 miles

  • Inti Wasi Preschool

    4.54 miles

  • Disney Day Care

    4.71 miles

  • Gan Yaffa

    5.02 miles

Frequently Asked Questions

How much does The Casa Palmera cost?

The sale price for The Casa Palmera is available upon request. Contact the listing broker for more information.

What is the total square footage of The Casa Palmera?

The Casa Palmera totals 50,528 square feet.

When was this property built?

The Casa Palmera was built in 1926.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker
broker
Jakob Friedman

NAI Capital

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