El Centro

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale El

Centro Apartments & Bungalows (the “Property”), an irreplaceable mixed-use community

located along the Hollywood Walk of Fame. El Centro provides a rare opportunity to acquire

a leasehold interest in a high-quality asset of scale with a diversified revenue profile near

unmatched demand drivers.

El Centro’s 507 well-appointed residences are located above 58k SF of ground-floor retail

and over 1,200 parking spaces, which features 457 dedicated commercial parking stalls

that are a significant driver of annual revenue. The Property is also home to three unique

supergraphic signs that consistently add over $550k to annual topline income. El Centro

is one of Los Angeles’ few truly mixed-use communities, with commercial tenancy that

enhances the residential experience and drives renter desirability. Tenancy is highlighted

by the world-famous Amoeba Music record store, and also includes a craft brewery known

as Hollywood Brewery and a fan-favorite bookstore called BookOff, both of which recently

signed leases at the Property. Additional upside remains in the lease-up of vacant retail

space, presenting an attractive opportunity to enhance investment returns. The Property

is also encumbered by a long-term ground lease that has 79 years of remaining term.

Occupying a full city block along the eastern portion of Hollywood Boulevard, El Centro is

a neighborhood within itself. The Property meets the needs of a variety of tenant profiles,

featuring an array of luxury penthouse and live-work floor plans. Averaging ±812 SF,

each spacious home is accented by tasteful oak hardwood flooring, light Caesarstone

countertops, high-end stainless-steel appliances, and NEST smart home features. El

Centro was designed to capitalize on Los Angeles’ 260+ days of sunshine annually, with an

emphasis placed on indoor/outdoor living, exemplified by the asset’s lush tropical garden,

oversized 44-foot infinity pool & spa, outdoor theatre, and sunroom/chef’s kitchen. The

Property also features a state-of-the-art fitness center with a built-in sauna, on-site

dog park, among other best-in-class amenities. El Centro is one of the most walkable

communities in Hollywood, earning an impressive 94 WalkScore for its excellent proximity

to countless restaurants and entertainment venues, while being directly across from the

Hollywood/Vine Metro station.

El Centro earns its name given its excellent centrality in one of Los Angeles’ most coveted

urban locations. Outside of DTLA, only one 500+ unit single-asset community has traded

in Los Angeles over the past decade, making this offering truly generational.