Investment Overview

In 2018, CGI+ purchased The James, an apartment-hotel building originally built in 1927, and located within the Hollywood neighborhood of Los Angeles. Prior to acquisition, the previous owner invested $6MM in a partial renovation including MEP and structural work, and CGI+ invested an additional $3MM in cosmetic and FF&E work.

The James is composed of 75 studio and one-bedroom apartments ranging in size from 350 to 810 square feet with 9-foot ceilings, hardwood floors, spacious walk-in closets, and eat-in kitchens. The building has 38,400 net rentable square feet with an additional 11,600 square feet of common area and amenity space. The property is currently operating as a hybrid of long-term residential and furnished extended-stay living, with 60 units fully renovated and furnished.

Transaction Details

Property Address: 1830 N Cherokee Avenue, Los Angeles CA
Acquisition Date: 2018
Investment Type: Residential Value-Add
Asset Type: Luxury multi-family and extended stay
Size: 75 Units