Unique opportunity to purchase 6 unit property in a high demand rental pocket. straddling the neighborhoods of Los Feliz and Hollywood. On a lot sized over 10,500 sq ft. there is tremendous value for long term potential. Main front unit is vacant and highlights numerous updates and preservation of character that shows off 1920’s character, reflecting architecture of the era. Refinished hardwood flooring throughout and remodeled bathrooms make this available unit perfect for receiving the best quality rent. At the same time, it also lends itself perfectly for an owner/user to build equity by moving into a large, Turnkey space (3 beds/ 2 baths) that has the feel of Single-Family living. This available unit has the convenience of utility area and basement close to kitchen and back door. Front structure has 2 large units (appox. 2000 sq ft.) and detached building in back has 4 units featuring 1 bedroom/1 bath. Driveway has depth that runs the length of the lot, affording many different parking options. Paved flat area in back of second 2 story structure also allows for many uses, including parking, as well. Immediate access to Hollywood on one side and short distance to DTLA in opposite direction. This is an area that consistently has tenants looking to be close to city access; close access to freeway commutes. Public website for CIty Of L.A. shows zoning designations that property falls under the State Enterprise Zone and also is located in specified Transit Priority Area.
Property Details
Price:
$2,000,000
MLS #:
24454231
Status:
Active
Baths:
0
Address:
5418 Franklin Avenue
Type:
Residential Income
Neighborhood:
637losfeliz
City:
Los Angeles
Listed Date:
Oct 23, 2024
State:
CA
ZIP:
90027
Lot Size:
10,593 sqft / 0.24 acres (approx)
Year Built:
1923
See this Listing
Mortgage Calculator
Schools
Interior
Appliances
Disposal, Refrigerator, Oven
Cooling
None
Flooring
Wood, Tile
Heating
Baseboard
Interior Features
High Ceilings, Open Floorplan, Storage
Exterior
Garage Spaces
3.00
Lot Features
Yard, Front Yard, Lawn, Back Yard
Parking Features
Driveway, Covered, Uncovered, Parking Space, Guest, Street, Concrete, Controlled Entrance, Garage – Two Door
Parking Spots
12.00
Pool Features
None
Roof
Composition
Sewer
Other
Stories Total
2
Financial
Tenant Pays
Gas, Electricity, Insurance
Map
Community
- Address5418 Franklin Avenue Los Angeles CA
- Area637 – Los Feliz
- CityLos Angeles
- CountyLos Angeles
- Zip Code90027
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Courtesy of Sotheby’s International Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
5418 Franklin Avenue
Los Angeles, CA
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