Updated August 25, 2026
Twenty-eight Hollywood apartment buildings have closed through this desk. This is the biggest of them: 75 units at 1134 North Sycamore Avenue, $14,000,000, June 2013 — $186,667 a unit.
The median across those twenty-eight Hollywood closings is $303,125 a unit. This building traded about a third below that, and it is the largest of the set. Both facts are the same fact.
Per-door pricing falls as unit count rises, almost everywhere in Los Angeles and very reliably in Hollywood. A four-unit building on a good Hollywood street is bought by someone who wants that building. A seventy-five-unit building is bought by someone running a return calculation, and the return calculation does not pay a premium for charm. The buyer pool changes at scale, and the pricing changes with it.
An owner of a large Hollywood building who benchmarks against the submarket's per-unit average will conclude their building is worth far more than it is. An owner of a small one who does the same will undersell. The average is not information. The comparable set has to match the size.
June 2013 sat early in the expansion that ran through 2022. Transaction volume was climbing and the buyer pool was broadening quarter over quarter, but pricing had not yet compressed to the levels of 2016 onward. A seventy-five-unit Hollywood building in mid-2013 was being underwritten by buyers who still remembered 2009.
That timing is most of the gap between this number and what the same building would command in a stabilised market a decade later. It is not a comment on the asset.
Hollywood's stock is overwhelmingly pre-1978, which puts it under the LA City Rent Stabilization Ordinance — and since the rewrite took effect on 1 July 2026, under a formula of 90% of CPI with a 1% floor and a 4% ceiling. The allowable increase for the current RSO year is 3%.
At seventy-five units, that ceiling compounds into a very different income trajectory than the same building would have a few miles away in a city with no local ordinance. It is the single largest variable in what a large Hollywood building is worth today, and it is the reason a 2013 comparable has to be adjusted rather than simply indexed forward.
Three things, in order of how often they are got wrong.
Size decides the buyer pool, and the buyer pool decides the price. Before anything else, establish which pool a building belongs to.
A submarket per-unit average is the wrong benchmark for a large building. Build the comparable set from buildings of similar size, even if that means going outside the neighborhood.
The RSO ceiling is the dominant variable at scale. On seventy-five units, the difference between a 3% and an 8% allowable increase is not a rounding difference over a hold period — it is the investment case.
Figures are taken directly from the closed-deal archive. This is a broker's analysis of a real transaction, not legal or tax advice.
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