5511 Smiley Drive

Los Angeles, CA 90016

$1,695,000
Price
11
Beds
8
Baths
5,670 Sq. Ft.
$299 / Sq. Ft.
5,670
Sq. Ft.
$299
per Sq. Ft.

Description

Seller motivated! Huge upside! 5511 Smiley Drive is a 7-unit apartment building situated in the heart of the burgeoning West Adams neighborhood. The property's diverse unit mix consists of one 2+2, three 2+1's, and three 1+1's. The building has had numerous upgrades such as security camera installation, vinyl windows, and a newer roof and exterior paint. There is ample tenant parking as well as owned communal laundry machines and a storage room that could be rented or retained for the owner's use....Seller motivated! Huge upside! 5511 Smiley Drive is a 7-unit apartment building situated in the heart of the burgeoning West Adams neighborhood. The property's diverse unit mix consists of one 2+2, three 2+1's, and three 1+1's. The building has had numerous upgrades such as security camera installation, vinyl windows, and a newer roof and exterior paint. There is ample tenant parking as well as owned communal laundry machines and a storage room that could be rented or retained for the owner's use. Lastly, the 7,200 square foot lot is 50% larger than the standard 4,800 square foot lot for the area. Superbly located just steps away from the heart of the West Adams commercial corridor, 5511 Smiley Drive provides residents with many of the great things LA has to offer right outside their front door. The property features a stellar 83 walk score and is central to major employment, freeways, and points of interest alike. Tenants with children have numerous nearby parks and schools to choose from, including Westside Neighborhood Park, Marvin Avenue Elementary, Argo Navis Middle School, and Hamilton High School. Public transit is easily accessible at the La Cienega/Jefferson Metro station 0.7 miles away. With 5511 Smiley, you can hedge against inflation, exploit tax advantages, and add more value.
  1. Listed by Jordan Peikin • DRE #02015987 • Brokerage DRE #02015987 • Jordan Peikin

Property Details for 5511 Smiley Drive

Water Front
None
Zoning
LARD2
Parcel Number
5048024026
Total Units
7.0
Living Area
5670
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
0
LISTING UPDATED: 09/16/2024 12:45 PM

Property Details for 5511 Smiley Drive

StatusActive
MLS #24-378945
Days on Market182
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.17 AC / 7,198 SF
CountyLos Angeles County

Building Information for 5511 Smiley Drive

Stories2Residences-Year Built1964Building Size-Lot Size0.17 AC / 7,198 SF

Property Information for 5511 Smiley Drive

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: Yes
  • View Description: City, City Lights
  • View: City Lights
  • Security Features: Carbon Monoxide Detector(s), Exterior Security Lights, Smoke Detector
  • Direction Faces: South
  • Property Condition: Repairs Major, Repair Cosmetic, Updated/Remodeled, Fixer
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is, Rent Control
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $116,031
  • Net Operating Income: $70,057.00
  • Gross Income: $117,145
  • Cap Rate: 4.13%
  • Gross Rent Multiplier: $14.47
  • Actual Gross Annual Income: $119,545
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 45974
Land / Lot Info
Land / Lot Info
  • Alley: No
  • Lot Acreage: 0.1652
  • Lot Size Square Feet: 7198
  • Lot Size Dimensions: 60x120
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned, Tandem, Side By Side, Carport
  • Total Parking: 9
  • Covered Parking: 2
  • Open Other Spaces Total: 7
  • Parking Features: Assigned, Tandem Garage, Side by Side, Carport
Interior Features
Interior Features
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Wall Gas
  • Flooring: Laminate, Tile
  • Equipment: Range/Oven, Refrigerator, Garbage Disposal, Ceiling Fan, Microwave
  • Interior Features: Ceiling Fan(s)
  • Laundry: Community, Room
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition
  • New Construction: No
  • Construction Materials: Frame, Stucco
  • Exterior Construction: Frame, Stucco
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-10-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,400.00
  • Unit Actual Rent: $2,400.00
  • Unit Projected Rent: $2,595.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,895.00
  • Unit Actual Rent: $1,895.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,201.00
  • Unit Actual Rent: $1,201.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $907.00
  • Unit Actual Rent: $907.00
  • Unit Projected Rent: $2,595.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $908.00
  • Unit Actual Rent: $908.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,304.00
  • Unit Actual Rent: $1,304.00
  • Unit Projected Rent: $2,595.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,147.00
  • Unit Actual Rent: $1,147.00
  • Unit Projected Rent: $2,795.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $585,646.00
  • Assessed Improvement Percent: 39.62
  • Assessed Land Value: $892,414.00
  • Assessed Land Percent: 60.38
  • Assessed Total Value: $1,478,060.00

Property History for 5511 Smiley Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 5511 Smiley Drive

Taxable ValueLand$910,262Additions$597,358Total$1,507,620
Tax Record2024$19,233 ($1,603 / month)
Home Facts
Total Finished SqFt5,670 SqFtAbove Grade Finished SqFt5,670 SqFtLot Size7,196 SqFtStyleMulti-Family Res (5+ Units)ZoningLARD2CountyLOS ANGELESAPN5048-024-026

Schools near 5511 Smiley Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Marvin Elementary School
PublicK to 5

Daniel Webster Middle School
Public6 to 8

Alexander Hamilton Senior High School
Public9 to 12

New Los Angeles Elementary School
CharterK to 5

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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5511 Smiley Drive is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on April 10, 2024 by Jordan Peikin, it's currently listed at $1,695,000. It has been on the market for a total of 182 days and was last sold on December 5, 2016. This listing's school district is Los Angeles Unified School District. Nearby schools include Marvin Elementary School, Daniel Webster Middle School and Alexander Hamilton Senior High School. 5511 Smiley Drive is a 11-bed, 8-bath, 5,670 sqft multi-family home built in 1964.

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 Jordan Peikin, Jordan Peikin, DRE #02015987

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.