$2,800,000
$100K PRICE DROP

5923 Carlton Way Los Angeles, CA 90028

Hollywood Neighborhood

Estimated payment $17,587/month

Total Views 2,440
3 Beds
3 Baths
9,248 Sq Ft
$303 Price per Sq Ft

Highlights

  • Views of a landmark
  • Cooling System Mounted To A Wall/Window
  • Laundry Room
  • Granite Countertops
  • Living Room
  • Tile Flooring

About This Home

PRICE REDUCTION! Two Units to be Delivered Vacant! 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 unit mix includes (8) one-bed/one-bath & (4) two-bed/two-bath units, appealing to a wide renter demographic.
The property features 14 covered carport parking spaces—an increasingly rare amenity in this high-density neighborhood. These parking spaces also offer a significant value-add opportunity, with potential for conversion into ADUs for additional income.
Recent capital improvements include a completed soft-story seismic retrofit, ensuring structural compliance and reducing future capital expenditure. Additional amenities include a coin-operated laundry room, rooftop access, and scenic views of the Hollywood Sign. The property sits directly adjacent to the tranquil Carlton Way Park and is within close proximity to major Hollywood landmarks, developments, and entertainment hubs.

Listing Agent

Brian Noh

Nohco Real Estate Brokerage Phone: 9493085775 License #01438155 Listed on: 06/11/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 8,376 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Block Wall Fence
  • Density is 11-15 Units/Acre

Home Design

  • Apartment
  • Entry on the 1st floor
  • Flat Roof Shape
  • Stucco

Interior Spaces

  • 9,248 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Living Room
  • Views of a landmark

Kitchen

  • Gas Range
  • Range Hood
  • Microwave
  • Granite Countertops
  • Disposal

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Home Security

  • Fire and Smoke Detector
  • Fire Sprinkler System

Parking

  • 14 Parking Spaces
  • 14 Carport Spaces
  • Parking Available

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 16
  • Tax Tract Number 2
  • Assessor Parcel Number 5545005015
  • $1,498 per year additional tax assessments

Community Details

Overview

  • 12 Units

Building Details

  • 10 Leased Units
  • Rent Control
  • 13 Separate Electric Meters
  • 13 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $96,163
  • Gross Income $267,142
  • Net Operating Income $167,893

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 6.00
  • Property Attached: Yes
  • Security: Fire Sprinkler System, Smoke Detector(s)
  • View: Yes
  • Zoning: LAR4
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5545005015
  • Year Built: 1961
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Ceiling Fan(s), Granite Counters
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate, Tile
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 302.77
  • Room Type: Kitchen, Living Room

Exterior Features

  • View: Landmark
  • Fence: Yes
  • Fencing: Block, Wrought Iron
  • Pool Private: No
  • Roof: Flat
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Carport Spaces: 14.00
  • Parking: Yes
  • Parking Features: Carport
  • Total Parking Spaces: 14.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal, Gas Range, Microwave, Range Hood, Water Heater
  • Heating Type: Wall Furnace
  • Laundry Features: Gas Dryer Hookup, Individual Room, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 8376.00
  • Lot Size Acres: 0.1923

Rental Info

  • Tenant Pays: Electricity, Gas, Telephone

Multi Family

  • Gross Income: 267142.00
  • Gross Multiplier: 10.40
  • Gross Scheduled Income: 267142.00
  • Lot Size Area: 8376.0000 Square Feet
  • Net Operating Income: 167893.00
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 13
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 12
  • Operating Expense: 96163.00
  • Rent Control: Yes
  • Total Actual Rent: 22262.00
  • Total Expenses: 96163.00

Tax Info

  • Tax Census Tract: 1910.00
  • Tax Lot: 16
  • Tax Tract Number: 2
  • TaxOtherAnnualAssessmentAmount: 1498.00

Map

Range of Values:

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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 List to Sale Price per Sq Ft
10/21/2025 10/21/25 Price Changed $2,800,000 -3.4% $303 / Sq Ft
06/11/2025 06/11/25 For Sale $2,900,000 -- $314 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25129260

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90028 Hollywood

5923 Carlton Way, Los Angeles, CA

For Sale

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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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Brian Noh
Listing Agent
Brian Noh
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Nohco Real Estate
(213) 804-7647