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5555 Carlton Way

Los Angeles, CA 90028
  • $7,995,000
  • STATUS: Active
  • ON SITE: 22 Days
  • MLS #: 22-149331
UPDATED: 33 min ago
$7,995,000
  • 22
    BEDS
  • 0.4
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 13,088
    SQFT
  • $611
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1967
County:
Area:

School Ratings & Info

Description

Located within a neighborhood that has experienced an influx of capital from both institutional multifamily investors and large movie studios, local rents have steadily risen, which may allow a new owner to improve income at the property. While similar buildings in the area have sold for more than $325,000 per unit, 5555 Carlton Way is available for only $307,500 per unit. The large corner lot totals 17,618 square feet and is zoned LAR4 with a Tier 4 TOC designation (Buyer to verify), which could allow future development potential. Tenants in this property benefit from its close proximity to the long-awaited Hollywood Target store, which opened in late-2020, as well as several shops and restaurants along Hollywood Boulevard, Sunset Boulevard, and Western Avenue. The Hollywood/Western Metro station is just one block away, while Ralphs and Walgreens are within walking distance as well. A trend of studio space expansion has dramatically improved the local neighborhood, including a joint-venture between The Blackstone Group and Hudson Pacific Partners to redevelop and expand the nearby Sunset Bronson Studios and Sunset Gower Studios. Netflix recently leased out nearly the entire 14-story ICON office tower at the corner of Sunset Boulevard and Van Ness Avenue, just one half-mile from the property.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T19:43:23.107. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/128034454
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5555 Carlton Way Los Angeles, CA 90028

  • Price: $7,995,000
  • Status: Active
  • On Site: 22 Days
  • Updated: 33 min ago
  • MLS #: 22-149331
22
Beds
0
Baths
0
½ Baths
0.4
Acres
13,088
SQFT
$611
$/SQFT
1967
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
Located within a neighborhood that has experienced an influx of capital from both institutional multifamily investors and large movie studios, local rents have steadily risen, which may allow a new owner to improve income at the property. While similar buildings in the area have sold for more than $325,000 per unit, 5555 Carlton Way is available for only $307,500 per unit. The large corner lot totals 17,618 square feet and is zoned LAR4 with a Tier 4 TOC designation (Buyer to verify), which could allow future development potential. Tenants in this property benefit from its close proximity to the long-awaited Hollywood Target store, which opened in late-2020, as well as several shops and restaurants along Hollywood Boulevard, Sunset Boulevard, and Western Avenue. The Hollywood/Western Metro station is just one block away, while Ralphs and Walgreens are within walking distance as well. A trend of studio space expansion has dramatically improved the local neighborhood, including a joint-venture between The Blackstone Group and Hudson Pacific Partners to redevelop and expand the nearby Sunset Bronson Studios and Sunset Gower Studios. Netflix recently leased out nearly the entire 14-story ICON office tower at the corner of Sunset Boulevard and Van Ness Avenue, just one half-mile from the property.
Exterior Features

Lot Size Area 17618 Other Structures None Parking Garage AssignedCarport Total Parking 24

Interior Features

Baths Total 27.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 3155062 Gross Income 502368 Gross Operating Income 490309 Like Units1 5 Like Units2 20 Like Units3 1 Net Operating Income 308486.00 Number Of Buildings 1 Number Of Units 26 Sale Type Standard Source Living Area Assessor Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 181823 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lar4

Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T19:43:23.107. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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