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5555 Carlton Way

Los Angeles (City), CA 90028
  • $7,600,000
  • STATUS: Active
  • ON SITE: 30 Days
  • ID#: 22178115
$7,600,000
  • 0
    BEDS
  • 0.4
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1967
County:

School Ratings & Info

Listing Agent(s): Roderick 'Rick' Raymundo of Marcus & Millichap (213-943-1800)


Description

Located within a neighborhood that has experienced an influx of capital from both institutional multifamily investors and large movie studios, local rents have steadily risen, which may allow a new owner to improve income at the property. While similar buildings in the area have sold for more than $325,000 per unit, 5555 Carlton Way is available for only $292,308 per unit. The large corner lot totals 17,618 square feet and is zoned LAR4 with a Tier 4 TOC designation (Buyer to verify), which could allow future development potential. Tenants in this property benefit from its close proximity to the long-awaited Hollywood Target store, which opened in late-2020, as well as several shops and restaurants along Hollywood Boulevard, Sunset Boulevard, and Western Avenue. The Hollywood/Western Metro station is just one block away, while Ralphs and Walgreens are within walking distance as well. A trend of studio space expansion has dramatically improved the local neighborhood, including a joint-venture between The Blackstone Group and Hudson Pacific Partners to redevelop and expand the nearby Sunset Bronson Studios and Sunset Gower Studios. Netflix recently leased out nearly the entire 14-story ICON office tower at the corner of Sunset Boulevard and Van Ness Avenue, just one half-mile from the property.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T00:29:53.897. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.searchsocalrealestate.com/homes/130820578
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5555 Carlton Way Los Angeles (City), CA 90028

  • Price: $7,600,000
  • Status: Active
  • On Site: 30 Days
  • ID#: 22178115
0
Beds
0
Baths
0
½ Baths
0.4
Acres
1967
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
Located within a neighborhood that has experienced an influx of capital from both institutional multifamily investors and large movie studios, local rents have steadily risen, which may allow a new owner to improve income at the property. While similar buildings in the area have sold for more than $325,000 per unit, 5555 Carlton Way is available for only $292,308 per unit. The large corner lot totals 17,618 square feet and is zoned LAR4 with a Tier 4 TOC designation (Buyer to verify), which could allow future development potential. Tenants in this property benefit from its close proximity to the long-awaited Hollywood Target store, which opened in late-2020, as well as several shops and restaurants along Hollywood Boulevard, Sunset Boulevard, and Western Avenue. The Hollywood/Western Metro station is just one block away, while Ralphs and Walgreens are within walking distance as well. A trend of studio space expansion has dramatically improved the local neighborhood, including a joint-venture between The Blackstone Group and Hudson Pacific Partners to redevelop and expand the nearby Sunset Bronson Studios and Sunset Gower Studios. Netflix recently leased out nearly the entire 14-story ICON office tower at the corner of Sunset Boulevard and Van Ness Avenue, just one half-mile from the property.
Exterior Features

Carport YN Yes Parking Features AssignedCarport Parking Total 24

Property Features

Association Fee 0 Gross Income 501168 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 314606 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lar4



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T00:29:53.897. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Rogers Realty Group/Berkshire Hathaway HomeServices California Properties
1063 W Sixth Street
Ontario CA, 91762
Listing Agent(s): Roderick 'Rick' Raymundo of Marcus & Millichap (213-943-1800)