5380 Romaine Street
5380 Romaine Street
$2,750,000
20
16
8,760
8,760
$314
Description
Spread over three buildings on one large 10,319 parcel, the property contains exclusively two-bedroom apartments. While six of those units were constructed in 1922, four units were added in 1988. A new investor may be able to continue the current program of upgrading unit interiors, which has established rent benchmarks at $2,383- $2,495. In total, there may be approximately 46% rent upside among the remaining below-market units. Situated near the intersection of Santa Monica Boulevard and Western...Spread over three buildings on one large 10,319 parcel, the property contains exclusively two-bedroom apartments. While six of those units were constructed in 1922, four units were added in 1988. A new investor may be able to continue the current program of upgrading unit interiors, which has established rent benchmarks at $2,383- $2,495. In total, there may be approximately 46% rent upside among the remaining below-market units. Situated near the intersection of Santa Monica Boulevard and Western Avenue, the property lies just east of Paramount Studios and the Hollywood Forever Cemetery. The exclusive Hancock Park neighborhood is only a few blocks southwest, while Koreatown and the Hollywood Walk of Fame are both nearby as well. The new 14-story ICON office tower, primarily leased to Netflix, was recently completed at the nearby Sunset Bronson Studios, while additional new construction is scheduled for Sunset Gower Studios, just one mile from the property. There, a joint venture between Hudson Pacific Properties and The Blackstone Group will be expanding the studio and office space, adding 620,000 square feet to the studio campus. The Melrose Hill neighborhood was recently named Los Angeles' Hottest Culinary Boom Town by Eater Los Angeles. Several exciting dining options have recently debuted in the immediate area, including Etra, Kuya Lord, Ggiata, Cafe Telegrama, and Le Coupe. Tenants can look forward to even more culinary options in the near future, as Little Fish, Bar Etoile, and Holy Basil are slated to open as well.
- Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 5380 Romaine Street
Zoning
LARD1.5
Parcel Number5535021010
Total Units10.0
Living Area8760
Source Living AreaVendor Enhanced
AreaHollywood (C20)
Vacancy Rate1
Lot Size Area10319
Location
LISTING UPDATED: 04/10/2024 12:01 AM
Property Details for 5380 Romaine Street
Status | Active |
---|---|
MLS # | 24-375779 |
Days on Market | 31 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1922 |
Lot Size | 0.24 AC / 10,319 SF |
County | Los Angeles County |
Location
Building Information for 5380 Romaine Street
Stories2Residences-Year Built1922Building Size-Lot Size0.24 AC / 10,319 SF
Payment Calculator
$17,578 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 5380 Romaine Street
Property History for 5380 Romaine Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 5380 Romaine Street
Taxable ValueLand$1,428,000Additions$1,020,000Total$2,448,000
Tax Record2023$30,840 ($2,570 / month)
Home Facts
Total Finished SqFt8,760 SqFtAbove Grade Finished SqFt8,760 SqFtLot Size10,319 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLARD1.5CountyLOS ANGELESAPN5535-021-010
Schools near 5380 Romaine Street
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 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Kingsley Elementary School PublicK to 5 | ||
Joseph Le Conte Middle School Public6 to 8 | ||
STEM Academy at Bernstein High Public9 to 12 | ||
Helen Bernstein 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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