5418 Franklin Avenue

Los Angeles, CA 90027

$2,000,000
Price
10
Beds
6
Baths
6,556 Sq. Ft.
$305 / Sq. Ft.
6,556
Sq. Ft.
$305
per Sq. Ft.

Description

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...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.
  1. Listed by Michelle St. Clair • DRE #01449428 • Brokerage DRE #01407690 • Sotheby's International Realty
  2. Listed by Allen Levoff • DRE #00593762 • Brokerage DRE #01407690 • Sotheby's International Realty

Property Details for 5418 Franklin Avenue

Zoning
LAR3
Style
Traditional
Parcel Number
5544006029
Total Units
6.0
Living Area
6556
Source Living Area
Assessor
Area
Los Feliz (637)
Vacancy Rate
yes
LISTING UPDATED: 11/01/2024 03:06 PM

Property Details for 5418 Franklin Avenue

StatusActive
MLS #24-454231
Days on Market27
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.24 AC / 10,593 SF
CountyLos Angeles County

Building Information for 5418 Franklin Avenue

Stories2Residences-Year Built1923Building Size-Lot Size0.24 AC / 10,593 SF

Property Information for 5418 Franklin Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: 6
  • Direction Faces: North
  • Property Condition: Updated/Remodeled, Repair Cosmetic
  • Sewer: In Street
  • Water Heaters: Yes
  • Water District: LADWP
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Open
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $152,340
  • Net Operating Income: $130,480.00
  • Gross Income: $152,340
  • Gross Rent Multiplier: $13.00
  • Total Annual Expense: 21860
  • Electric Expense: $9,000.00
  • Other Expense: $500.00
  • Gardener Expense: $2,760
  • Insurance Expense: $6,000
Land / Lot Info
Land / Lot Info
  • Alley: No
  • Lot Acreage: 0.2432
  • Lot Size Square Feet: 10593
  • Lot Features: Yard, Front Yard, Lawn, Back Yard
  • Lot Description: Yard, Fenced Yard, Front Yard, Lawn, Lot-Level/Flat, Single Lot, Walk Street, Street Lighting, Back Yard
Parking Details
Parking Details
  • Parking Garage: Driveway, Covered Parking, Driveway Gate, Uncovered, Parking Space, Parking for Guests, On street, Driveway - Concrete, Controlled Entrance, Detached, Garage - 2 Car, Garage Is Detached
  • Total Parking: 12
  • Covered Parking: 2
  • Open Other Spaces Total: 10
  • Garage Spaces Total: 3
  • Parking Features: Driveway, Covered, Uncovered, Parking Space, Guest, Street, Concrete, Controlled Entrance, Garage - Two Door
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Baseboard
  • Heating Type: Baseboard
  • Flooring: Hardwood, Wood, Tile, Mixed, Ceramic Tile
  • Equipment: Garbage Disposal, Freezer, Refrigerator, Range/Oven, Gas Or Electric Dryer Hookup
  • Interior Features: High Ceilings (9 Feet+), Open Floor Plan, Storage Space, Turnkey
  • Room Kitchen Features: Tile Counters
  • Kitchen Features: Skylight(s), Tile Counters, Counter Top
  • Room Bathroom Features: Tile Counters, Remodeled
  • Bathroom Features: Shower Over Tub, Tile, Remodeled, Powder Room
  • Bedroom Features: All Bedrooms Up
  • Common Walls: Attached
  • Cooking Appliances: Oven
  • Laundry: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Roof: Composition
  • Patio Features: Patio Open, Concrete Slab
  • Entry Location: Living Room
  • New Construction: No
  • Other Structural Features: High Ceilings (9 Feet+), Two On A Lot
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-23-2024
  • Rent Control: Yes
  • Tenant Pays: Gas, Electricity, Move In Fee, Insurance
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $5,600.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,100.00
  • Unit Actual Rent: $2,100.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,720.00
  • Unit Actual Rent: $1,720.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,150.00
  • Unit Actual Rent: $1,150.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,150.00
  • Unit Actual Rent: $1,150.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $515,196.00
  • Assessed Improvement Percent: 58.07
  • Assessed Land Value: $372,030.00
  • Assessed Land Percent: 41.93
  • Assessed Total Value: $887,226.00

Property History for 5418 Franklin Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 5418 Franklin Avenue

Taxable ValueLand$1,774,800Additions$612,490Total$2,387,290
Tax Record2024$30,030 ($2,503 / month)
Home Facts
Total Finished SqFt6,556 SqFtAbove Grade Finished SqFt6,556 SqFtLot Size10,590 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLAR3CountyLOS ANGELESAPN5544-006-029

Schools near 5418 Franklin Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Charter - 7 to 12
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Grant Elementary School
PublicK to 6

Apex Academy
Charter7 to 12

Hollywood Senior High School
Public9 to 12

Richard A. Alonzo Community Day School
Public7 to 12

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.

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5418 Franklin Avenue is a multi-family home for sale in Los Angeles, CA 90027. This property was listed for sale on October 23, 2024 by Sotheby's International Realty, it's currently listed at $2,000,000. It has been on the market for a total of 27 days and was last sold on April 6, 2005. This listing's school district is Los Angeles Unified School District. Nearby schools include Grant Elementary School, Apex Academy and Hollywood Senior High School. 5418 Franklin Avenue is a 10-bed, 6-bath, 6,556 sqft multi-family home built in 1923.

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 Sotheby's International Realty, Michelle St. Clair, DRE #01449428; Sotheby's International Realty, Allen Levoff, DRE #00593762

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.