A Hollywood celebrity name in a North Hollywood apartment sale that set a local price record
A 28-unit Class A apartment building in North Hollywood sold for the highest per-unit price in the neighborhood in more than three years. The transaction involved a property that shares a name with a famous singer, and the deal came at $571,500 per residence.
The Sophia Hollywood property at 1759 North Gower Street sold for $16 million to an undisclosed buyer. Colliers brokered the deal on behalf of the private seller.
The buyer did not reveal their identity for the 40,332-square-foot multifamily community. The sale price worked out to nearly $571,500 per unit, which Colliers reported as the highest per-unit price in Hollywood in more than three years.
"Today's buyers are thinking beyond short-term market volatility," Colliers' Kitty Wallace said in a statement. "There is a growing recognition that high-quality housing in infill locations will continue to be difficult to build and increasingly valuable over time."
The Sophia Hollywood complex completed in 2024 attracted the buyer with its newer construction and condominium-quality design. The property features larger floor plans that are increasingly difficult to deliver with elevated development costs and interest rates.
The $16 million sale price was below what it would cost to replace the building. The property includes a fitness center, common spaces and gated parking with stainless steel appliances and in-unit laundry in each apartment.