6061 Franklin Avenue

Los Angeles, CA 90028

$2,895,000
Price
12
Beds
12
Baths
6,132 Sq. Ft.
$472 / Sq. Ft.
6,132
Sq. Ft.
$472
per Sq. Ft.

Description

We are pleased to present a twelve (12) unit apartment building located at 6061 Franklin Avenue in Los Angeles, California. The subject property is positioned in a prime Greater Hollywood Hills location, north of Franklin Avenue and west of North Beachwood Drive. Built in 1954, this property contains a streamlined unit mix of twelve (12) one bedroom / one bathroom units. The units vary in size with six (6) smaller, four (4) that are large, and two (2) large front units that boast a private patio...We are pleased to present a twelve (12) unit apartment building located at 6061 Franklin Avenue in Los Angeles, California. The subject property is positioned in a prime Greater Hollywood Hills location, north of Franklin Avenue and west of North Beachwood Drive. Built in 1954, this property contains a streamlined unit mix of twelve (12) one bedroom / one bathroom units. The units vary in size with six (6) smaller, four (4) that are large, and two (2) large front units that boast a private patio in the front of the building. The whole building was fully renovated in 2015, now features a quality aesthetic with wood deco throughout, completed a soft-story retrofit in 2021, is gated & secure with a recently re-tarred driveway, CCTV throughout the building, and an on-site laundry room. There are six (6) uncovered parking spaces and two (2) tuck-under parking spaces available. There is two (2) additional large storage units with potential to convert into multiple ADUs. Tenants will enjoy being within short walking distance to some of the best entertainment, retail, and restaurant amenities in Los Angeles. Some of the nearby amenities include the Hollywood Walk of Fame, Avalon Hollywood & Bardot, Gower Plaza Shopping Mall, Gelson's Grocery, TAO, Katsuya Hollywood, Wood & Vine, Scum and Villainy Cantina, The Bourbon Room, and many more. A short drive up North Beachwood Drive and residents can experience outdoor recreation hiking the Hollywood sign and enjoying the quaint, laid back community at Beachwood Canyon. Situated in a prime greater Hollywood Hills location, this offering presents an excellent opportunity for any investor to purchase a turn-key, quality aesthetic asset with an excellent starting cap rate.
  1. Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 6061 Franklin Avenue

Zoning
LAR3
Parcel Number
5586008002
Total Units
12.0
Living Area
6132
Source Living Area
Plans
Area
Hollywood Hills East (C30)
Vacancy Rate
17%
Lot Size Area
6364
LISTING UPDATED: 11/25/2024 12:20 PM

Property Details for 6061 Franklin Avenue

StatusActive
MLS #24-466895
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1954
Lot Size0.15 AC / 6,364 SF
CountyLos Angeles County

Building Information for 6061 Franklin Avenue

Stories3Residences-Year Built1954Building Size-Lot Size0.15 AC / 6,364 SF

Property Information for 6061 Franklin Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Market
  • View: Yes
  • View Description: City
  • View: City Lights
  • Security Features: Gated, Automatic Gate, Card/Code Access, Owned
  • Property Condition: Repair Cosmetic, Updated/Remodeled, No Additions/Alter
  • Water Heaters: Yes
  • Water Heater Features: Water Heater Unit
Contract Info
Contract Info
  • Probate: No
  • Financing: Submit
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $256,310
  • Net Operating Income: $179,733.00
  • Gross Income: $264,237
  • Cap Rate: 6.21%
  • Gross Rent Multiplier: $10.96
  • Financial Info as Of: 11/25/2024
  • Vacancy Allow Dollar: $7,927.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 76576
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Paved: Yes
  • Lot Acreage: 0.1461
  • Lot Size Square Feet: 6364
  • Lot Features: Landscaped
  • Lot Description: Single Lot, Landscaped
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Gated, Door Opener, Uncovered, Covered Parking
  • Total Parking: 8
  • Covered Parking: 2
  • Open Other Spaces Total: 6
  • Parking Features: Gated, Garage Door Opener, Uncovered, Covered
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Wood
  • Equipment: Built-Ins, Range/Oven, Dryer, Washer
  • Common Walls: Attached
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • Patio Features: Enclosed, Porch - Front
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-25-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,835.00
  • Unit Actual Rent: $1,835.00
  • Unit Projected Rent: $2,192.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,706,742.00
  • Assessed Improvement Percent: 45.8
  • Assessed Land Value: $2,019,644.00
  • Assessed Land Percent: 54.2
  • Assessed Total Value: $3,726,386.00

Property History for 6061 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 6061 Franklin Avenue

Taxable ValueLand$1,883,644Additions$1,591,812Total$3,475,456
Tax Record2018$41,815 ($3,485 / month)
Home Facts
Total Finished SqFt5,306 SqFtAbove Grade Finished SqFt5,306 SqFtLot Size6,362 SqFtStyleMulti-Family Res (5+ Units)Year Built1954Year Renovated1954ZoningLAR3CountyLOS ANGELESAPN5586008002

Schools near 6061 Franklin Avenue

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
Cheremoya Avenue Elementary School
PublicK to 5

Joseph Le Conte Middle School
Public6 to 8

Hollywood 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.

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6061 Franklin Avenue is a multi-family home for sale in Los Angeles, CA 90028. This property was listed for sale on November 25, 2024 by Marcus & Millichap, it's currently listed at $2,895,000. It has been on the market for a total of 2 days and was last sold on April 8, 2016. This listing's school district is Los Angeles Unified School District. Nearby schools include Cheremoya Avenue Elementary School, Joseph Le Conte Middle School and Hollywood Senior High School. 6061 Franklin Avenue is a 12-bed, 12-bath, 6,132 sqft multi-family home built in 1954.

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 Marcus & Millichap, Jason Tuvia, DRE #01772495

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.