1424 N Crescent Heights Blvd | Granville Towers

Granville Towers
1424 N Crescent Heights Blvd
West Hollywood 90046

Granville Towers is a 40 condo full-service Historic High-rise in West Hollywood. Built-in 1930 by Samuel Coins, this grand dame offers plenty of vintage ‘Old Hollywood’ charm. For heavens sakes, there is a baby grand piano and a crystal chandelier hanging from the ceiling in the lobby! Marilyn Monroe once lived here.

Prominent local architect Leland Bryant designed the Granville Towers. Granville Towers stands in French Normandy Revival splendor- characterized by a steeply pitched hipped slate roof, with dormers, vertically aligned steel casement windows, finial posts, large interior chimneys and decorative masonry block quoining. Fans of Leland Bryant will recognize several other buildings he designed nearby: Sunset Tower Hotel, La Fontaine, Harper House, Colonial House, and Country Club Manor.

Over the years, 1424 N Crescent Heights has undergone several transformations. Originally built as “Voltaire Apartments” for movie industry people in the 30’s, for a while it metamorphosis as a hotel, until finally in 1988, it underwent condo conversion at a cost of $5M.

The entire building has a Mills Act Contract so owners enjoy a 50% reduction in their property taxes.

LOCATION

Granville Towers is located at the intersection of Sunset Blvd and Crescent Heights. North of Sunset, Crescent Heights winds off into the Hollywood Hills, and Laurel Canyon goes over the mountains to Studio City in the Valley.

Right next to Granville Towers is 8000 Sunset, a mid-size shopping mall that has a Trader Joe’s, Malibu Fish Grille, Starbucks, Movie Theater and Crunch Gym. The location was once home to the legendary Garden of Alla Hotel before it was demolished. You might be sad to hear that the Garden of Alla is gone, but The Chateau Marmot is still alive and kicking, with an Andre Balaz restaurant and moderne bar. Hyde nightclub, Greenblatt’s Deli, and Laugh Factory are few other hangouts. 

REAL ESTATE

Record Sale? $1,948,955 8/30/2007

Turnover Ratio? 7.5% or about 3 condos a year

Appreciation? 5%

The Granville is separated into the North Tower and South Tower. All units with Odd numbers (1,7,9) are in the South tower, and all units with even numbers are in the north tower (0,4,8).

There are only 3 condos on each floor, so there is not a lot of commotion from coming and going between neighbors. Each tower has a classical wood paneled elevator with brass handles. Between condos there are minimal shared common walls, so the condos are quite private.

Since the building is Historic the exterior can never be changed, however as a homeowner you can do pretty much whatever you want inside your unit. The Penthouses on the 7th floor have very cool loft areas. None of the condos have balconies. Want to get some fresh air? Behind the property is an expansive formal English garden with manicured lawns, trimmed box hedges, and a fountain for some truly enchanting outdoor space. 

The Floorplans are all single story and range from 800 sqft -1,800 sqft. Floorplans are primarily 1br and 2br. The 1 stack has 3bedroom condos. Following the classical aesthetics, condos have a foyer/formal entry to receive guests and make an impression. The condos have 9 foot high ceilings for a dash of drama. Kitchens are on the smaller side but practical, with a stacked washer/dryer hidden in there somewhere. Closets are a bit small by today’s standards but are what you would expect for a building of this era. The Bedrooms get some nice light. 

Pricing:

1BR (#9 Stack)
900 sqft
$500,000

2BRs (,#0,#4,#7,#8)
1,100 sqft – 1,550 sqft
$600,000- $800,000

3Brs (#1)
1,800 sqft
$1,100,000 -$1,200,000

Penthouses
$1,300,000 – $1,500,000 

Amenities 

-24-hour concierge/front doorman and security cameras in the building lobby.

-Expansive Grounds (The Granville lot is on a 2/3rds of acre)

-Dog Run in the back of property

 -The property also has a maintenance employee who is onsite 6 hours a day if you have any repair issue.

Parking & Laundry

There are about 40 parking spaces total. 1 parking space for each condo (if you need more parking- you can get a parking permit to park on Crescent Heights). Parking is assigned and not deeded parking. There is an upper garage (about 20 spaces) and lower garage (about 20 spaces).

Since the lower garage has a staircase to climb up to the lobby and no elevator, the upper garage is more desirable. Unfortunately for new owners, their assigned parking space will always be in the lower garage, even if the condo that is selling currently has a parking space assigned to the upper garage. The reason for this is because there is a waitlist. Owners in the lower garage may put tehmselves on a waitlist for an uppergarage space when it becomes available. The list is based on seniority, with owners who have been waiting hte longest at the top of the list and new owners at the bottom. If stairs from the lower garage are an issue, this building may not be a great fit. There are 5 guest parking spots in a parking pad in front of the building.

Laundry is inside, in the kitchen area of each condo. There is space for a stacked gas washer dryer. 

 

Home Owners Association

Front desk phone#? 323-650-8850 

HOA dues Monthly Cost? $1,100/mo. Remember that the building has lower property taxes (about half), which really lowers the holding cost. 

HOA dues cover? Water, Trash, Building Insurance, Staff, Reserves

Owner Pays? Electricity, Gas, Internet Cable, Condo Insurance

Any special assessments? No

Pet Policy?

Rental Policy?

EQ Insurance? No

Building Reserves?

Property Management Company?

Property Resources Management
888-875-1722
info@pr-mgt.com

 

 

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