The Property consists of a seven-story, mixed-use building located at 5217 Hollywood Boulevard and a two-story, type III masonry mixed-use building located at 5299-5233 Hollywood Boulevard.The seven-story building, also known as “Guardian Arms”, was originally built as a hotel in 1928. It soon became the destination for many of Hollywood’s biggest film stars because of its prestigious Hollywood Boulevard address and spectacular views. In 1941, the hotel was converted into apartments and was modestly renovated in 2008 by the current owners. The building features a spacious lobby, with concrete and marble floors, art deco style units, and panoramic views that include the Hollywood Sign and Griffith Park Observatory.