5942 Carlton Way,Los Angeles, CA 90028
Los Angeles, CA 90028
Description
Exceptional investment opportunity in the heart of Hollywood! Built in 1923, this classic Spanish-style fourplex offers timeless character, immediate rental upside, and strong long-term investment potential. Situated on a low-maintenance corner LAR4-zoned lot, the property features four spacious one-bedroom, one-bathroom units totaling approximately 3,020 square feet (approximately 755 square feet per unit; buyer to verify). Each residence enjoys its own private entrance and is separately metered for gas and electricity, providing efficient property management and reduced owner expenses.A rare feature in today's market, two of the four units will be delivered vacant (upstairs and downstairs on the west side of the building), allowing the next owner to immediately lease at current market rents or select their own tenants. Both vacant units have been freshly painted and are move-in ready, creating an ideal opportunity to increase cash flow from day one. The remaining two units are occupied by long-term tenants, providing stable in-place income while offering future rental upside.The property's low-maintenance design, with no on-site parking or landscaping, helps minimize ongoing operating expenses. Pro forma financials are available upon request, highlighting the property's attractive investment potential and projected returns.Ideally located just minutes from Hollywood Boulevard, Sunset Boulevard, Netflix, Paramount Studios, shopping, restaurants, entertainment, and Metro transit, the property benefits from one of Los Angeles' strongest rental markets with consistently high tenant demand.An outstanding opportunity for investors, 1031 exchange buyers, or those looking to expand their multifamily portfolio with a classic Hollywood asset offering immediate upside, stable income, and exceptional long-term appreciation potential.
Details
| MLS # | 26871829 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 8 |
| Listing Provided By | Nourmand & Associates-HW | Gina Isaac |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 3,030 |
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 1 |
| Zoning | LAR4 |
| Acreage | 0.07 |
| Property View | None |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Interior Features | Ceiling Fans |
| Fireplace Yes / No | No |
Parking
| Parking Features | None, On Street |
|---|---|
| Garage Yes / No | No |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90028 |
| Area | C20 Hollywood |
| Listing VS Median (in 90028) | |
Price: $1,395,000 low | high Med: $544,500 sqft: 3,030 low | high Med: 860 $ / sqft: $460 low | high Med: $647 On site: 8 low | high Med: 90 | |
Market Activity 90028
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90028 |
| Area | C20 Hollywood |
| Listing VS Median (in 90028) | |
Price: $1,395,000 low | high Med: $544,500 sqft: 3,030 low | high Med: 860 $ / sqft: $460 low | high Med: $647 On site: 8 low | high Med: 90 | |
 | $1,200,0006046 Carlton WayLos Angeles, CA 90028 |