Thank you
Roderick 'rick' Raymundo
Marcus & Millichap
818-212-2700
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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Total Bedrooms : 14
Total Baths: 14
Full Baths: 0
Half Baths: 0
Year Built: 1909
Building Area Total: 8,445
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3464
Lot Size Source: Assessor
Lot Size Square Feet: 15090
Original List Price: 2,890,000
Listing Contract Date: 2024-04-08
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5536005013
Garage Description: Assigned
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C20 - Hollywood
Postal Code Plus 4: 2102
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.
Zoning: LAR3
Source Property Type: Residential Income
Area: C20 - Hollywood
Property Age: 115
Year Built Source: Vendor Enhanced
Total Square Feet Living: 8445
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
6021 Romaine Street, Los Angeles, CA,90038 | $1,550,000 | 4 | 2 | 1,512 | 5858 Sqft |
5851 La Mirada Avenue, Los Angeles, CA,90038 | $1,350,000 | 6 | -- | 2,118 | 7200 Sqft |
5666 W Lexington Avenue.., Los Angeles, CA,90038 | $2,450,000 | 5 | 1 | 2,799 | 7501 Sqft |
5415 Monroe Street, Los Angeles, CA,90038 | $1,199,000 | 3 | -- | 1,855 | 6748 Sqft |
847 N Cherokee Avenue, Los Angeles, CA,90038 | $1,350,000 | 2 | -- | 1,412 | 6284 Sqft |
5342 Lemon Grove Avenue, Los Angeles, CA,90038 | $1,299,000 | 5 | 2 | 1,876 | 7001 Sqft |
6316 W Skye Drive, Los Angeles, CA,90038 | $1,675,000 | 3 | 4 | 2,326 | 1646 Sqft |
1203 N Garbo Lane, Los Angeles, CA,90038 | $1,450,000 | 3 | 3 | 2,345 | 1438 Sqft |
5837 Willoughby Avenue, Los Angeles, CA,90038 | $1,395,000 | 4 | 2 | 1,681 | 6500 Sqft |
5500 Barton Avenue, Los Angeles, CA,90038 | $1,895,000 | -- | -- | 2,816 | 8600 Sqft |
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ByOwner last updated this listing 05/04/2024 @ 14:34
MLS: 24377957
LISTED BY: Roderick 'Rick' Raymundo, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.