3520 West 5th Street

Los Angeles, CA 90020

$2,295,000
Price
12
Beds
12
Baths
8,956 Sq. Ft.
$256 / Sq. Ft.
8,956
Sq. Ft.
$256
per Sq. Ft.

Description

3 or More Options - Option 1 - Hold as conventional rental and add 2 ADUs; Option 2 - Develop-Build up to 50 potential units with AB 1287 or 26 units By-Right based on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (Property Report available on request) Option 3 - Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents are projected....3 or More Options - Option 1 - Hold as conventional rental and add 2 ADUs; Option 2 - Develop-Build up to 50 potential units with AB 1287 or 26 units By-Right based on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (Property Report available on request) Option 3 - Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents are projected. The rather conventional 50s exterior belies the interior vintage style. Unit interiors average just under 1500 SF. Most units retain vintage design touches with updated modern amenities. More like homes than apartments, the units give the sense of being in a charming Hancock Park home. A truly, one-of-a kind building. Oh, and did I mention it's smack dab in the middle of the Korea Town scene. Short distance to the iconic Chapman Plaza and public transportation. WalkScore.com: 95. Several exterior virtual pictures including the main photo showing many color options have been added to the photos along with the current interior & exterior property photos. Click on video links to see drone view. Gross income includes parking, laundry and other income in addition to projected rents for the possible addition of ADUs.
  1. Listed by Wes Wellman • DRE #00467451 • Brokerage DRE #00467451 • Wellman Realty Co.

Property Details for 3520 West 5th Street

Zoning
LAR4-2 Tier 3 TOC
Parcel Number
5502021007
Total Units
6.0
Living Area
8956
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
5%
Lot Size Area
10587
LISTING UPDATED: 11/07/2024 03:30 PM

Property Details for 3520 West 5th Street

StatusActive
MLS #24-440381
Days on Market86
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1950
Lot Size0.24 AC / 10,587 SF
CountyLos Angeles County

Virtual Tour

Building Information for 3520 West 5th Street

Stories2Residences-Year Built1950Building Size-Lot Size0.24 AC / 10,587 SF

Property Information for 3520 West 5th Street

Community / Development
Community / Development
  • Tax Mello Roos: Unknown
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 6 Apartments
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $227,551
  • Net Operating Income: $137,104.00
  • Gross Income: $227,551
  • Cap Rate: 5.49%
  • Gross Rent Multiplier: $10.96
  • Actual Annual Gross Rent: $227,551.00
  • Actual Rent Total: $178,591.80
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 90447
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.243
  • Lot Size Square Feet: 10587
Parking Details
Parking Details
  • Parking Garage: Community Garage, Carport Detached
  • Total Parking: 10
  • Covered Parking: 8
  • Open Other Spaces Total: 2
  • Garage Spaces Total: 4
  • Carport Spaces Total: 4
  • Parking Features: Community Structure, Detached Carport
  • Attached Garage: No
  • Garage Structures Total: 1.0
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Hardwood, Laminate, Tile
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-24-2024
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,073.00
  • Unit Actual Rent: $2,073.00
  • Unit Projected Rent: $2,790.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,285.00
  • Unit Actual Rent: $3,285.00
  • Unit Projected Rent: $3,285.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,663.00
  • Unit Actual Rent: $3,663.00
  • Unit Projected Rent: $3,813.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,319.00
  • Unit Actual Rent: $2,319.00
  • Unit Projected Rent: $2,790.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,352.00
  • Unit Actual Rent: $1,352.00
  • Unit Projected Rent: $2,840.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,826.00
  • Unit Actual Rent: $1,826.00
  • Unit Projected Rent: $2,840.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,740.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,740.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,340.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,540.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Number of Carpet: 0
  • Number of Dishwasher: 0
  • Number Range: 6
  • Number Rented Garages: 4
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $225,931.00
  • Assessed Improvement Percent: 34.21
  • Assessed Land Value: $434,492.00
  • Assessed Land Percent: 65.79
  • Assessed Total Value: $660,423.00

Property History for 3520 West 5th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3520 West 5th Street

Taxable ValueLand$443,181Additions$230,449Total$673,630
Tax Record2024$9,636 ($803 / month)
Home Facts
Total Finished SqFt8,956 SqFtAbove Grade Finished SqFt8,956 SqFtLot Size10,584 SqFtStyleMulti-Family Res (5+ Units)Year Built1950ZoningLAR4CountyLOS ANGELESAPN5502-021-007

Schools near 3520 West 5th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - K to 12
Public - 6 to 8
Rating
School
Distance
UCLA Community School
PublicK to 12

Young Oak Kim Academy
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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3520 West 5th Street is a multi-family home for sale in Los Angeles, CA 90020. This property was listed for sale on September 23, 2024 by Wellman Realty Co., it's currently listed at $2,295,000. It has been on the market for a total of 86 days and was last sold on January 26, 2001. This listing's school district is Los Angeles Unified School District. Nearby schools include Rfk Community Schools - Ambassador School - Global Education, Rfk Community Schools-New Open World Academy K-12 and UCLA Community School. 3520 West 5th Street is a 12-bed, 12-bath, 8,956 sqft multi-family home built in 1950.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Wellman Realty Co., Wes Wellman, DRE #00467451

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.