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$ 2,050,000
Est. payment | /mo
8,648 SqFt
$ 2,050,000
Est. payment | /mo
8,648 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,648 sqft
Price per Sqft $237
MLS Listing ID CL26907637
HOA Y/N No
Year Built 1965
Lot Size 7,502 Sqft
Acres 0.1722
Property Sub-Type Other
Property Description
5345 La Mirada Avenue is a well-maintained 10-unit multifamily property located in East Hollywood. Built in 1965, the property totals approximately 8,648 SF of living space situated on a 7,500 SF LARD1.5-zoned lot. The three-story building offers a desirable unit mix of eight (8) 1-bed/1-bath units and two (2) two-bed/two-bath units. The spacious residences average approximately 600 SF for the one-bedrooms and 800 SF for the two-bedrooms, with many featuring hardwood flooring, wall A/C units, ceiling fans, ample storage, and attractive city views. Five units have been renovated in recent years with updated kitchens, bathrooms, and dual-pane windows. The two end units benefit from windows on three sides, providing exceptional natural light and panoramic views of Hollywood and Downtown Los Angeles. Offered at a 5.96% CAP Rate and 10.86 GRM on current rents, $205,000/unit and $237/SF! This property offers a stable and competitive return at current rents, and a significant upside as units turn over and pro forma rents are achieved. East Hollywood is a vibrant, centrally located Los Angeles neighborhood known for its rich cultural mix, anchored by Thai Town and Little Armenia, a strong local food scene, and a walkable, urban feel. It offers a blend of classic Craftsman homes, mid-century apartments, and newer multifamily development, with easy access to Hollywood, Los Feliz, Griffith Park, and major transit routes. Popular with renters, creatives, and investors alike, Melrose Hill continues to see steady demand. The median home sales price is approximately $900,000, though pricing varies widely by property type and location within the neighborhood.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5537003024
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Listed by Nicole Apostolos • Equity Union
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