5700 La Mirada Avenue
Los Angeles, CA, 90038 $ 2,890,000
Bedrooms14 Baths14.0 Sq 8,445 Monthly Estimate*
$ 20,188
Listed by Marcus & Millichap
for $2,890,000 with 14 bedrooms and 14 full baths. This 8,445 square foot home was built in 1909 on a lot size of 0.3464.
With four separate buildings spanning two parcels, the property occupies a total of 15,090 land square feet on the corner of Wilton Place and La Mirada Avenue. The existing assets are available for an attractive 10.98 GRM with approximately 16% rent upside, in addition to potential future development possibilities adding flexibility to an investor's exit strategy. The large lot is zoned LAR3 and sits in a Tier 2 TOC area, while also holding ED1 eligibility. Located near Sunset Boulevard, the property provides tenants with convenient access to several Hollywood destinations as well as the rest of the Los Angeles metro, via the nearby 101 Freeway. The exclusive Hancock Park neighborhood is only a few blocks southwest, while Koreatown and the Hollywood Walk of Fame are both nearby as well. The new 14-story ICON office tower, primarily leased to Netflix, was recently completed at the nearby Sunset Bronson Studios, while additional new construction is scheduled for Sunset Gower Studios, just one mile from the property. There, a joint venture between Hudson Pacific Properties and The Blackstone Group will be expanding the studio and office space, adding 620,000 square feet to the studio campus. The property is just north of Paramount Studios, the Hollywood Forever Cemetery, and Melrose Hill. The Melrose Hill neighborhood was recently named Los Angeles' Hottest Culinary Boom Town by Eater Los Angeles. Several exciting dining options have recently debuted in the immediate area, including Etra, Kuya Lord, Ggiata, Caf Telegrama, and Le Coupe. Tenants can look forward to even more culinary options in the near future, as Little Fish, Bar Etoile, and Holy Basil are slated to open as well.
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FeaturesGeneralZoning LAR3
Year Built 1909
Stories 2
Levels Two
Gross Income 263148.0
County Los Angeles
Net Operating Income 174110.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions We are pleased to announce the opportunity to purchase 5700-5704 La Mirada Avenue a 13-unit multifamily property located in the Hollywood district of Los Angeles CA.
City Los Angeles
View Y/N N
Senior Community Y/N N
Total Units 13
MLS Area C20 - Hollywood
Lot Size Square Feet 15090.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name La Mirada
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 8
Standard Status Active
Cap Rate 6.02
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ExteriorParking Features Assigned
Total Parking 15.0
Lot Size Area 15090.0
Number of Buildings 4
Spa N
Building Area Total 8445.0
Lot Size Acres 0.3464
Lot Size Units SquareFeet
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Total Bedrooms 14
Electric On Property Y/N N
Total Baths 14
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $20,188
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $2,002,074
Percent of Sale Price 31%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/9/2024 | $2,890,000 | | Listed Price |