The classic comedians Burns and Allen are featured in this fast-paced farce that includes an assortment of corny vaudeville acts. The story centers around Gracie, the daughter of a wealthy business magnate. To prevent a gigolo, who is attempting to seduce his other daughter, from getting his fortune, the father gives all his money, temporarily, to Gracie who promptly turns their Park Avenue manse into a boarding house for impoverished show biz performers. She charges them nothing. Some of the acts that stay there include: Jack Powell, Cal Norris and Monkey, The Buccaneers, Moro and Yaconelli, Pascale Perry and Partner, The Six Candreva Brothers, Seymour and Corncob, Jester and Mole, Jack Cavanaugh and Partner, Six Olympics and Big Boy Williams. In the end, all the residents stage a show to give themselves a chance for a comeback.