Investment Overview

In August 2014, CGI+ acquired a 50-unit, historic apartment building located in the Franklin Village area of Hollywood, CA with an adjacent duplex that has since been converted to a 5-unit building.

Upon acquisition, the property was 50% occupied and the building was in slum condition after having suffered years of neglect. CGI+ worked to help relocate the remaining residents to allow for the complete and proper renovation of the building. CGI+ carefully began restoration in 2017, elevating the property to its former glory according to the exacting standards of the Historical Society and preservation consultants.

The apartments have been carefully appointed with furniture designed and manufactured by CGI+’s in-house design team complements the historical age of the property while having special appeal in form and function for a modern environment. CGI+ installed a residents-only pool and clubhouse located in the adjacent lot and a rooftop lounge with unobstructed Hollywood views.

Transaction Details

Property Address: 5959 Franklin Ave, Hollywood, CA
Acquisition Date: August 2014
Investment Type: Residential Value-Add
Asset Type: Luxury multi-family and extended stay
Size: 55 Units