T
he historic property at 2025-2027 North Highland Avenue is currently on the market for a price of approximately $6.8 million. This estate spans over three acres of land and was previously home to the Hollywood Art Center School. The property has the potential to be developed into an 80-unit multifamily building or a hotel with a similar room count. The seller of this property is an LLC tied to a California registered agent, as per property records. The Oppenheim Group's Catherine Agro and Jason Oppenheim are responsible for listing this property.

    The property consists of a main house, carriage house, and guest house, which were previously used as classroom and studio spaces. According to Los Angeles Planning Commission documents, this property was designated as a historic-cultural monument in 2020. The mansion has six bedrooms and three bathrooms, while the outdoor area boasts a 100-seat amphitheater offering a stunning view of the Hollywood sign, hiking trails, and waterfalls.

    The Mission Revival-style property was originally designed by Dennis & Farwell Architects for artist Otto Classen. The firm is also known for designing the Magic Castle and many other Southern California residences built during the turn of the century. The property was later acquired by Henry and Mona Lue Lovins in the 1940s, who moved their Hollywood Art Center School to this site. The school was founded in 1912 as the Southwest Academy of Art in Downtown Los Angeles and offered programs in fine arts, fashion, costume design, commercial art, and illustration, as per a website dedicated to the school's history maintained by the Lovins' granddaughter Elizabeth Lovins.

    In other news, SHB proposes an eight-story affordable complex in North Hollywood, while MetLife and Loews have put a Hollywood hotel up for sale at a significant discount. Additionally, KeyBank has been sued over a derailed $122M deal for Skims-leased Hollywood offices.