Friday, May 1, 2009

6683 Franklin Avenue: 10 Palms Takes Root In Hollywood

Party like a rock star and can’t afford the W Hollywood Residences? Make your way to 6683 Franklin Avenue and get the best of loft living within walking distance of the Kodak Theater and the Hollywood Bowl. These nine contemporary units each have unique floorplans and plenty of panache.

Address: 6683 Franklin Avenue, Los Angeles, 90028
Asking price: $599,000 for a 1 br + den + patio + 1.5 ba (1,289 sq ft) to $1,350,000 for a 3 br + den + patio + 3 ba (2,108 sq ft)
Number of units in development: 9
HOA: $380 - $425 (approximately)
Parking: 2 spaces larger units; 1 space smaller units; 5 guest spots
Days on Market: 11

We previously wrote that 10 Palms was brought hastily to market. It was worth the wait. Clive Wilkinson Architects didn’t take a cookie-cutter approach to this design and carved out two-floor units that are composed of interesting trapezoids and polygons – perfectly capitalizing on this peninsular site on the north side of Franklin Avenue.

Units are offered with polished concrete on the lower floor and hardwood on the upper level. Appliances are Bosch, although refrigerators are not included. Some of the units with two parking spots have tandem parking. The rooftop deck has treetop views of the hills to the north and bustling Hollywood to the south.

The pricing of the premium units seems high ($1,350,000 penthouse, for example), for they are not far superior to some of the excellent, smaller units. Units #4 and #5, with 1,200 sq ft (approx.), 1 br, 1.5 ba, a den, patio and parking, priced at $599,000 and $629,000, respectively, seem to be particularly good deals.

Best of all, 10 Palms portends to become a community. In Los Angeles, a building can become more than a home, it can become a place to meet new people. (Think Melrose Place.)

10 Palms, with a hip, Hollywood location and great outdoor space will become a building where friendships are made, bread is broken … and from time to time, you may even be able to party like a rock star.

Bottom Line: Not your run-of-the-mill complex. Great location and design should put this development on the map.