5816 Willoughby Avenue

Los Angeles, CA 90038

$1,200,000
Price
5
Beds
3
Baths
2,254 Sq. Ft.
$532 / Sq. Ft.
2,254
Sq. Ft.
$532
per Sq. Ft.

Description

5837 Willoughby Ave. JUST SOLD DOWN THE BLOCK 2-Units for $1,300,000. 5816 Willoughby Avenue, a 3-unit multifamily investment OR Development opportunity located in perhaps one of the strongest submarkets in Los Angeles, Hollywood, CA. The property is situated in one of the trendiest locations in Los Angeles, sitting just North of Melrose Ave, sandwiched between Vine Street and Gower Street. The property currently features 2,254 square feet of gross rentable area, situated on a 6,491-square foot lot....5837 Willoughby Ave. JUST SOLD DOWN THE BLOCK 2-Units for $1,300,000. 5816 Willoughby Avenue, a 3-unit multifamily investment OR Development opportunity located in perhaps one of the strongest submarkets in Los Angeles, Hollywood, CA. The property is situated in one of the trendiest locations in Los Angeles, sitting just North of Melrose Ave, sandwiched between Vine Street and Gower Street. The property currently features 2,254 square feet of gross rentable area, situated on a 6,491-square foot lot. The 3-unit building is composed of 3 two-bedroom/one-bathroom units and offers gated parking for tenants. 5816 Willoughby Avenue offers tenants excellent proximity to some of Los Angeles' finest amenities such as the Sunset Strip, Wilshire Country Club, Melrose Avenue, Restaurants on La Brea, the world renowned shopping center, The Grove and others. Nearby grocers include Trader Joe's, Pavilions and Sprouts. Local dining options include Alfalfa, Osteria, Great White, Ramen Melrose, The Common Good, Stir Crazy and many more. Due to the property's premier location, 5816 Willoughby Avenue offers a unique opportunity to any investor looking to acquire a well-maintained asset or develop a completely new product in the heart of Central Hollywood Opportunity: As Is build (2) Detached ADU's OR Redevelop into 8-Units OR Redevelop into 8-Units and add (2) ADU's Buyer to Verify
  1. Listed by Chandler Rockwell • DRE #02080782 • Brokerage DRE #00748543 • Fred Leeds Asset Group Inc.

Property Details for 5816 Willoughby Avenue

Zoning
LAR3
Parcel Number
5534029005
Total Units
3.0
Living Area
2254
Source Living Area
Vendor Enhanced
Area
Hollywood (C20)
Vacancy Rate
0
Lot Size Area
6493
LISTING UPDATED: 10/11/2024 04:23 PM

Property Details for 5816 Willoughby Avenue

StatusActive
MLS #24-427151
Days on Market125
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1916
Lot Size0.15 AC / 6,493 SF
CountyLos Angeles County

Building Information for 5816 Willoughby Avenue

Stories-Residences-Year Built1916Building Size-Lot Size0.15 AC / 6,493 SF

Property Information for 5816 Willoughby Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: 2
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $109,800
  • Net Operating Income: $43,920.00
  • Gross Income: $109,800
  • Gross Rent Multiplier: $10.90
  • Total Annual Expense: 20355
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1491
  • Lot Size Square Feet: 6493
Parking Details
Parking Details
  • Parking Garage: Gated
  • Total Parking: 0
  • Parking Features: Gated
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Dishwasher, Ceiling Fan, Dryer, Washer
  • Interior Features: Ceiling Fan(s)
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Shed(s)
Lease Terms
Lease Terms
  • Entry Date: 08-13-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,102.00
  • Unit Actual Rent: $2,924.00
  • Unit Projected Rent: $9,150.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $58,798.00
  • Assessed Improvement Percent: 28.57
  • Assessed Land Value: $147,015.00
  • Assessed Land Percent: 71.43
  • Assessed Total Value: $205,813.00

Property History for 5816 Willoughby 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 5816 Willoughby Avenue

Taxable ValueLand$424,968Additions$179,980Total$604,948
Tax Record2024$7,795 ($650 / month)
Home Facts
Total Finished SqFt2,254 SqFtAbove Grade Finished SqFt2,254 SqFtLot Size6,491 SqFtStyleTriplexYear Built1916ZoningLAR3CountyLOS ANGELESAPN5534-029-005

Schools near 5816 Willoughby Avenue

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

Hubert Howe Bancroft Middle School
Public6 to 8

Fairfax Senior High School
Public9 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.

Similar Homes

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5816 Willoughby Avenue is a multi-family home for sale in Los Angeles, CA 90038. This property was listed for sale on August 1, 2024 by Fred Leeds Asset Group Inc., it's currently listed at $1,200,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Vine Street Elementary School, Hubert Howe Bancroft Middle School and Fairfax Senior High School. 5816 Willoughby Avenue is a 5-bed, 3-bath, 2,254 sqft multi-family home built in 1916.

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 Fred Leeds Asset Group Inc., Chandler Rockwell, DRE #02080782

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.