$8,650,000
Sale price — neighborhood record at closing
Single Family · Hollywood Hills
The Apex HH
7115 Macapa Dr · Sold · $8,650,000 · 2019 – 2023
47 mo
Acquisition to sale
Expansion
Unused floor area converted to living space
Hollywood Hills
Submarket
The Investment
A hillside home repositioned into a different price tier — and a lesson in what patience buys.
Acquired in 2019 as an under-improved hillside home on a street the principals had worked for over a decade. The thesis was floor area: the lot carried unused FAR that a buyer pool focused on existing square footage had consistently overlooked.
The business plan was a studs-out rebuild paired with an expansion — the harder, slower path, but the one that repositioned the house into a different price tier entirely. A mid-hold recapitalization was used along the way, while the equity stayed at risk through completion.
The home sold in 2023 for $8,650,000, a neighborhood record at the time of closing, after a 47-month hold.
Gallery
The Property.
The Outcome
How It Finished.
| Strategy | Result | Years |
|---|---|---|
| Studs-out remodel + FAR expansion | Sold — $8,650,000 | 2019 – 2023 |
Detailed project financials are discussed privately with investors we have an established relationship with. How we work with investors →
This project was completed by the principals through Thornton Development Group or an affiliated predecessor entity. It was not an Assemble Capital offering and did not involve Assemble Capital investors. Sale prices are recorded sale prices. Past performance is not indicative of future results.
Investment Cycle
How the Deal Ran.
Every project follows the same arc — acquire, design and permit, build, market, exit. What changes is where the time and the risk concentrate.
2019
Acquire
Off-market hillside acquisition at a basis that priced the house, not the unused floor area.
2019–2021
Design & Permit
Expansion design and hillside permitting — the long pole of the project.
2021–2022
Build
Studs-out rebuild executed with in-house construction management.
Mid-hold
Recapitalize
A mid-hold second trust deed recapitalization; equity stayed at risk through completion.
2023
Exit
Sold at $8,650,000 — a neighborhood record at closing.
The Takeaway
Complexity premium plus patient expansion. The unused FAR was visible to anyone who pulled the zoning; converting it took four years of execution.
Investor Relationships
Interested in How We Work?
We develop Los Angeles residential projects alongside investors we know well, and the principals personally guarantee the project loans, never our investors. Project details are shared privately, once we’ve gotten to know you. Nothing here is an offer to sell or a solicitation to buy any security.