$1,300,000
SOLD DEC 20, 2024

5055 Shearin Ave Los Angeles, CA 90041

Eagle Rock Neighborhood
14 Beds
8 Baths
6,474 Sq Ft
6,716 Sq Ft Lot

Recently Sold

$201 Per Sq Ft

7% Below List Price

7 Days on Market

About This Home

As of December 2024

We are honored to present The Morreale Legacy Portfolio, located in the sought-after Eagle Rock neighborhood (90041). This exceptional investment opportunity features two buildings with a total of 16 units in a highly supply-constrained market. 2012 Yosemite Drive is a mid-century 10-unit building, while 5055 Shearin Avenue offers six mid-century units, both located within blocks of each other. This is the first time these properties, held by the developer's family since their construction in 1968 and 1971, are available on the open market. The portfolio can be sold together or individually.5055 Shearin Avenue features an outstanding unit mix of (4) 2 Bed & 1 Bath and (2) 3 Bed & 2 Bath Units, with a total rentable square footage of approximately 6,474. 2012 Yosemite Drive includes (9) 2 Bed & 1 Bath, and (1) 3 Bed & 2 Bath Unit, with a total rentable square footage of approximately 8,652. Combined, the buildings offer approximately 15,126 square feet of rentable space on a 16,477-square-foot lot, with ample parking. For astute investors, there's significant value-add potential, including the possibility of adding ADUs and capitalizing on substantial upside opportunities (buyer to verify feasibility). The properties are zoned R1 and RD1.5, situated in a residentially zoned community offering above-market rental rates. Located in the vibrant core of Eagle Rock, the portfolio boasts walk scores of 80 and 88, indicating that most errands can be accomplished on foot. This prime location is near Occidental College, Glendale, Atwater Village, Highland Park, and Pasadena, ensuring enduring appeal to tenants Disclosure**Buyers are to conduct thorough and independent due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking availability, unit mix, year built, zoning, market rents, and the feasibility of ADUs or additional units. PLEASE DO NOT DISTURB TENANTS OR ENTER THE PROPERTY - DRIVE-BY ONLY.

Last Agent to Sell the Property

Eric Dilanian

Remax Commercial and Investment Realty License #01951699 Listed on: 12/04/2024

Remax Commercial and Investment Realty

Last Buyer's Agent

Vahe Parsekhian

License #01398749

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Interior Spaces

  • 6,474 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 8 Bathrooms

Parking

  • 10 Parking Spaces
  • Carport
  • On-Street Parking

Additional Features

  • 6,716 Sq Ft Lot
  • Cooling System Mounted To A Wall/Window

Community Details

  • 6 Units
  • Laundry Facilities
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 5686-005-010

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 6474
  • Lot Acreage: 0.1542
  • Stories: 2
  • Year Built: 1968
  • Number Of Photos: 21
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 14
  • Laundry: Community
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 216.25

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Carport, On street
  • Total Parking: 10

Utilities

  • Cooling: Wall/Window

Lot Info

  • Assessed Improvement Percent: 80.28
  • Assessed Improvement Value: 140896
  • Assessed Land Percent: 19.72
  • Assessed Land Value: 34608
  • Total Assessed Value: 175504
  • Assessor Parcel Number: 5686-005-010
  • Lot Size Area: 6716

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 13.40
  • Number Of Units: 6
  • Rent Control: 100
  • Total Annual Expense: 47848
  • Type Of Units: Apartments
  • Vacancy Rate: 0

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2024 12/20/24 Sold $1,300,000 -7.1% $201 / Sq Ft
12/11/2024 12/11/24 Pending -- -- --
12/04/2024 12/04/24 For Sale $1,400,000 -- $216 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Eric Dilanian

    Seller's Agent in 2024

    Eric Dilanian

    RE/MAX

    (213) 233-4379

    6 in this area

    41 Total Sales

    Eric Dilanian
    Section Image

  • V

    Buyer's Agent in 2024

    Vahe Parsekhian

See All Agents

Map

Source: The MLS

MLS Number: 24-468779

The MLS

California Los Angeles County Los Angeles 90041 Eagle Rock

5055 Shearin Ave, Los Angeles, CA

This home is located at 5055 Shearin Ave, Los Angeles, CA 90041 and is currently priced at $1,300,000, approximately $200 per square foot. This property was built in 1968. 5055 Shearin Ave is a home located in Los Angeles County with nearby schools including Eagle Rock Elementary School, Eagle Rock High School, and PUC CALS Middle School and Early College High.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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