$2,810,000
SOLD JUN 21, 2024 RENTED APR 2, 2025
10 Beds
12 Baths
5,212 Sq Ft
6,766 Sq Ft Lot

Recently Sold

$539 Per Sq Ft

9% Below List Price

8 Days on Market

Highlights

  • Tandem Parking
  • Laundry Room
  • Zoned Heating and Cooling

About This Home

As of June 2024

Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.

Last Agent to Sell the Property

Julio Ruiz

Global Platinum Properties, Inc. License #01911261 Listed on: 05/13/2024

Co-Listed By

Armin Soleimani

Global Platinum Properties, Inc. License #01846872

Last Buyer's Agent

Geoff Jaime

GT Investments License #01841913

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,321

Year Built

  • Built in 1953

Interior Spaces

  • 5,212 Sq Ft Home
  • 2-Story Property
  • Oven or Range
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 12 Bathrooms

Parking

  • 8 Parking Spaces
  • Carport
  • Tandem Parking
  • Assigned Parking

Additional Features

  • 6,766 Sq Ft Lot
  • Zoned Heating and Cooling

Community Details

  • 2 Buildings
  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5534-007-017

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,321

Year Built

Built in 1953

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Advertising Remarks: Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc.
  • Building Permit: Yes
  • Living Area: 5212
  • Lot Acreage: 0.1553
  • Stories: 2
  • Year Built: 1953
  • Number Of Photos: 19
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 10
  • Laundry: In Unit, Inside
  • Total Bathrooms: 12.00
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 594.78

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Assigned, Carport, Tandem
  • Total Parking: 8

Utilities

  • Cooling: Air Conditioning, Multi/Zone
  • Heating: Zoned, Electric
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 50.00
  • Assessed Improvement Value: 700893
  • Assessed Land Percent: 50
  • Assessed Land Value: 700893
  • Total Assessed Value: 1401786
  • Assessor Parcel Number: 5534-007-017
  • Lot Size Area: 6766

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Gross Rent Multiplier: 11.90
  • Number Of Units: 8
  • Total Annual Expense: 63151
  • Type Of Units: Low Rise
  • Vacancy Rate: 4 Units

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2024
Closed on
Jun 14, 2024
Sold by
La Tenants In Common Developers Llc and Selby Capital Llc
Bought by
Realvaluex Llc
Seller's Agent
Julio Ruiz
Global Platinum Properties, Inc.
Buyer's Agent
Geoff Jaime
GT Investments
List Price
$3,100,000
Sold Price
$2,810,000
Premium/Discount to List
-$290,000
-9.35%
Views
2
Current Estimated Value
$2,833,702

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$23,702
Avg. Annual Appreciation
0.52%

Purchase Details

Closed on
Aug 25, 2022
Sold by
Selby Capital Llc and La Tenants In Common Developers Llc
Bought by
La Tenants In Common Developers Llc and Selby Capital Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,768,770
Interest Rate
4.99%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 29, 2020
Sold by
Elek Properties I Llc
Bought by
Selby Capital Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,168,164
Interest Rate
2.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 7, 2018
Sold by
Elek Properties I Llc
Bought by
Elek Properties I Llc
Source: Public Records

Similar Homes in Los Angeles, CA

  • 5947 Carlton Way, Los Angeles, CA 90028

    $2,900,000

    • 3 Beds
    • 4 Baths
    • 10,746 Sq Ft
    • 5947 Carlton Way
    • Los Angeles, CA

    One Unit Recently Vacated! 5947 Carlton Way is a turnkey 13-unit multifamily asset ideally positioned in the heart of Hollywood—one of Los Angeles' most sought-after rental markets. Built in 1960 and situated on a 9,157 SF lot zoned LA-R4, this well-maintained 2-story property is approx 10,746 SF in size and features a desirable and diverse unit mix:(2) studios, (8) one-bed/one-bath units, and

    Brian Noh Nohco Real Estate

    Section Image
  • 5923 Carlton Way, Los Angeles, CA 90028

    $2,900,000

    • 3 Beds
    • 3 Baths
    • 9,248 Sq Ft
    • 5923 Carlton Way
    • Los Angeles, CA

    One Unit Recently Moving Out! 5923 Carlton Way presents a well-located 12-unit multifamily asset in the highly desirable Hollywood submarket—an area known for strong tenant demand, limited inventory, and proximity to world-renowned landmarks and new developments.Built in 1961, the two-story property offers approximately 9,248 square feet of rentable space on an 8,325 SF lot zoned LA-R4. The

    Brian Noh Nohco Real Estate

    Section Image
  • 5510 Lexington Ave, Los Angeles, CA 90038

    $2,350,000

    • 1 Bed
    • 2 Baths
    • 11,956 Sq Ft
    • 5510 Lexington Ave
    • Los Angeles, CA

    Lamlex Lexington is a 20-unit apartment community constructed in 1925. Situated in the Hollywood submarket, the property consists of (16) Studio/One-Bathroom units and (4) One-Bedroom/One-Bathroom units, totaling 480 square feet per unit. The units are separately metered for gas and electric. The property is located minutes away from two major thoroughfares, Santa Monica Blvd, Sunset Blvd, and

    Brent Sprenkle NorthMarq Realty Services, Inc

    Section Image
  • 1802 N Western Ave, Los Angeles, CA 90027

    $2,200,000

    • 2 Beds
    • 2 Baths
    • 6,660 Sq Ft
    • 1802 N Western Ave
    • Los Angeles, CA

    Back on Market and priced reduced : Property located near Los Feliz area. Gated community of 10 individual bungalows built in 1920. Very large lot almost half acre with tall shady trees down the middle walkway. Each unit has the following: front and back yard, utility room off kitchen, separate dining room, living room, bathroom with 2 entry points, bedroom with 2 walk-in closets. Some units have

    Debrah Johnson WE SELL HOMES REALTY

    Section Image
  • 1425 N Normandie Ave, Los Angeles, CA 90027

    $2,250,000

    • 3 Beds
    • 2 Baths
    • 1,513 Sq Ft
    • 1425 N Normandie Ave
    • Los Angeles, CA

    This is the opportunity of a lifetime. Buy the Corner and Hold if for the Future!!!!! There are very few buildable commercial 1 acre lots in the area. The subject property actually sits on the inside corner of this particular lot and is their missing piece needed for a potentially spectacular development at this location. Subject property is a duplex in Hollywood area, 1424 N. Normandie Ave.

    Gary Demiraiakian

    Section Image
  • 6040 Graciosa Dr, Los Angeles, CA 90068

    $2,200,000

    • 3 Beds
    • 2 Baths
    • 6040 Graciosa Dr
    • Los Angeles, CA

    Nestled in the heart of the Hollywood Hills, 6040 Graciosa Dr is a classic 1928 multi-unit property offering timeless charm and income-generating potential. With approximately 3,502 sq ft of living space on a 5,227 sq ft lot, this well-maintained four-unit building features six bedrooms and four bathrooms, along with off-street parking, privacy fencing, and captivating views of the Hollywood

    Sergio Iturrios RISE Real Estate Group

    Section Image
  • 1211 N Kenmore Ave, Los Angeles, CA 90029

    $2,990,000

    • 3 Beds
    • 3 Baths
    • 9,000 Sq Ft
    • 1211 N Kenmore Ave
    • Los Angeles, CA

    Incredible opportunity to acquire this fully occupied 12 unit asset. Huge upside potential. Current cap rate of 5.06% may easily reach 8.5% as rents are substantially lower than what the market currently allows. Property is benefitted from number recent upgrades that include a newer roof, windows, plumbing and electrical. Some of the unit upgrades include newer kitchens, bathrooms, and flooring.

    Sarkis Garibyan Coldwell Banker Hallmark

    Section Image
  • 1108 N Kenmore Ave, Los Angeles, CA 90029

    $2,099,900

    • 3 Beds
    • 3 Baths
    • 2,639 Sq Ft
    • 1108 N Kenmore Ave
    • Los Angeles, CA

    This property is in the heart of Hollywood, surrounded with single family homes, apartment complexes and mom and pop businesses, situated within one-quarter mile from Santa Monica / Vermont Metro Rail Station with easy access to transportation, shopping, schools including Los Angeles City College (LACC), most within walking distance. Property is zoned C-2 commercial and includes three (3) units,

    Jim Mangassarian Realty Executives Homes

    Section Image
  • 144 S Catalina St, Los Angeles, CA 90004

    $2,200,000

    • 1 Bed
    • 20,510 Sq Ft
    • 144 S Catalina St
    • Los Angeles, CA

    Shovel-Ready 46-Unit RTI Development in Prime Koreatown: Incredible opportunity to develop a fully RTI-approved 46-unit 100% affordable housing project in the heart of Koreatown—one of the most dynamic and densely populated rental markets in Los Angeles. The 9,024 SF R3-zoned lot is approved for for 2 two-bedroom, 36 one-bedroom units and 8 studios,, totaling approx. 15,703 SF of rentable space

    Rana Khanjani Sync Brokerage

    Section Image

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $2,800,000 Commonwealth Land Title Compan
Grant Deed -- Chicago Title
Grant Deed $1,374,500 Equity Title Company
Quit Claim Deed -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $1,800,000 New Conventional
Previous Owner $1,768,770 New Conventional
Previous Owner $1,168,164 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/02/2025 04/02/25 Rented $2,395 0.0% --
03/09/2025 03/09/25 Price Changed $2,395 -4.0% $4 / Sq Ft
02/04/2025 02/04/25 For Rent $2,495 0.0% --
06/21/2024 06/21/24 Sold $2,810,000 -9.4% $539 / Sq Ft
05/21/2024 05/21/24 Pending -- -- --
05/13/2024 05/13/24 For Sale $3,100,000 -- $595 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $20,321 $1,634,540 $743,792 $890,748
2024 $20,321 $1,602,491 $729,208 $873,283
2023 $19,943 $1,571,070 $714,910 $856,160
2022 $17,401 $1,401,786 $700,893 $700,893
2021 $17,174 $1,374,300 $687,150 $687,150
2020 $6,367 $446,320 $222,860 $223,460
2019 $6,149 $437,582 $218,491 $219,091
2018 $6,041 $429,014 $214,207 $214,807
2016 $5,706 $411,780 $205,890 $205,890
2015 $5,633 $405,596 $202,798 $202,798
2014 $5,698 $397,652 $198,826 $198,826
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: The MLS

MLS Number: 24-391925

The MLS

APN: 5534-007-017