5110 Washington Boulevard

Los Angeles, CA 90016

$3,750,000
Last Sold Price
34
Beds
34
Baths
10,885 Sq. Ft.
$345 / Sq. Ft.
10,885
Sq. Ft.
$345
per Sq. Ft.

Description

$530,000 Price Reduction! 100% Vacant! Priced at $164/sf on the land, $358/sf on the building! Renovate the existing ~34 units or build 140+ units! We are pleased to present an Opportunity Zone project consisting of three (3) adjacent parcels, totaling 23,756sf of Commercial land, with existing improvements consisting of ~34 units with 10,885sf of building. Currently 100% vacant, the property had been previously zoned for a board and care home. As a development site, by utilizing 100% affordable...$530,000 Price Reduction! 100% Vacant! Priced at $164/sf on the land, $358/sf on the building! Renovate the existing ~34 units or build 140+ units! We are pleased to present an Opportunity Zone project consisting of three (3) adjacent parcels, totaling 23,756sf of Commercial land, with existing improvements consisting of ~34 units with 10,885sf of building. Currently 100% vacant, the property had been previously zoned for a board and care home. As a development site, by utilizing 100% affordable housing incentives, there is potential for a 140+ unit multi-family development to be allowed on the property. As a value-add play, an investor may have the ability to convert the existing ~34 units into apartments or continue the use as a board and care facility. As an apartment building, there may be potential to add numerous ADU's in the existing garages or large common kitchen area. With its close proximity to West Adams and Culver City, the property is well positioned for any type of investor to take advantage of continued appreciation for years to come. Buyer shall complete their own due diligence to determine what the current legal use allowed is for the property.
  1. Listed by Casey Lins • DRE #01902650 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 5110 Washington Boulevard

Zoning
LAC2
Parcel Number
5062006028
Total Units
34.0
Living Area
10885
Source Living Area
Other
Area
Mid Los Angeles (C16)
Vacancy Rate
100%
Lot Size Area
23756

Location

Listing Courtesy of Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

Sold By Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

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LISTING UPDATED: 03/05/2024 09:42 AM

Property Details for 5110 Washington Boulevard

StatusSold
MLS #23-294564
Days on Market146
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1946
Lot Size0.55 AC / 23,756 SF
CountyLos Angeles County

Location

Listing Courtesy of Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

Sold By Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

Add your commute

Building Information for 5110 Washington Boulevard

Stories1Residences-Year Built1946Building Size-Lot Size0.55 AC / 23,756 SF

Payment Calculator

$21,828 per month

30 year fixed, 7.25% Interest

Principal and Interest

$20,465

Property Taxes

$1,363

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5110 Washington Boulevard

Community / Development
Community / Development
  • Number Of Units: 34
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: Units
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $655,560
  • Net Operating Income: $430,845.00
  • Gross Income: $655,560
  • Cap Rate: 11.08%
  • Gross Rent Multiplier: $5.94
  • Vacancy Allow Dollar: $32,778.00
  • Total Annual Expense: 191937
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.5454
  • Lot Size Square Feet: 23756
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 14
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-26-2023
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,295.00
  • Unit Actual Rent: $44,030.00
  • Unit Projected Rent: $44,030.00
  • Like Units: 34
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $.00
  • Assessed Improvement Percent: 0.0
  • Assessed Land Value: $1,279,565.00
  • Assessed Land Percent: 100
  • Assessed Total Value: $1,279,565.00

Property History for 5110 Washington Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 5110 Washington Boulevard

Taxable ValueLand$1,305,156Additions-Total$1,305,156
Tax Record2023$16,356 ($1,363 / month)
Home Facts
Total Finished SqFt2,832 SqFtAbove Grade Finished SqFt2,832 SqFtStories1Lot Size7,799 SqFtStyleHotel / MotelYear Built1946ZoningLAC2CountyLOS ANGELESAPN5062-006-028

Schools near 5110 Washington Boulevard

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 - 6 to 8
Rating
School
Distance
Cienega Elementary School
PublicK to 5

Johnnie Cochran, Jr., Middle School
Public6 to 8

Los Angeles Senior High School
Public9 to 12

New Los Angeles Charter School
Charter6 to 8

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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Similar Sold Homes

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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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

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.