1812 W 5th Street
Los Angeles, CA 90057
- – beds
- – baths
- – sqft
- 7,477 sqft lot
- 1927 build
- 1420 days on site
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1812 West 5th Street is a 40-unit apartment building located in a prime Westlake location just north of 6th street near McArthur Park and the Home Depot, a highly walkable location with access to entertainment, shopping, dining, nightlife, and employment opportunities. Built in 1927, this value-add investment presents the investor an opportunity to achieve a 36% upside in rents after renovations when the units turn. The property will be delivered with ten vacancies at the close of escrow.The subject property is being offered at a 4.77% current cap rate and a 11.17 GRM on current income. Ease of management as the electric and gas utilities are separately metered. There is also a RUBS program in-place for future tenants of water and sewer partial reimbursement. The subject property has an incredible walk score of 93, a Walkers Paradise recognized for its unparalleled access to dining, shopping, parks, schools, amenities and entertainment; and is a short walk to MacArthur Park, Good Samaritan Hospital and the Metro Purple andRed Lines. Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; its rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles
Last checked:
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Last updated May 5, 2023
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MLS# 21730938 —
The Building
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Year Built:1927
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New Construction:No
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Building Area Total:22340.00
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Total Number Of Units:40
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# of Buildings:1
Location
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Directions:Located between S Bonnie Brae and S Burlington Ave
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Latitude:34.05869200
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Longitude:-118.27109800
The Property
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Property Type:Residential Income
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Zoning:LAR4
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Lot Size Area:7477.0000
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Lot Size Acres:0.1716
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Lot Size SqFt:7477.00
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View:1
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View:City Lights
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5154025010
The Community
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Association:No
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Senior Community:No
Parking
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Parking:No
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Parking:None
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
8/31/21
Aug 31, 2021
|
Sold | CRMLS_CA | $5,035,000 | -4.1% |
|
5/12/21
May 12, 2021
|
Listed / Active | CRMLS_CA | $5,250,000 |
