1734-1740 Taft Ave

The Tuvia Group closed the sale of 1734–1740 Taft Ave, a Hollywood multifamily property that traded at one of the submarket’s lowest cap rates over the prior year. While some buyers hesitated given nearby properties trading at cap rates of 6% or higher, the property offered significant value-add potential across two separate parcels. Its underutilized carport areas presented an opportunity for ADU conversions with the potential to double the unit count through SB 1211. By focusing on the property’s long-term development potential rather than its initial yield, the transaction successfully closed at a premium to the existing cash flow.