5700 La Mirada Avenue

Los Angeles, CA 90038

$2,890,000
Price
14
Beds
14
Baths
8,445 Sq. Ft.
$342 / Sq. Ft.
8,445
Sq. Ft.
$342
per Sq. Ft.

Description

With four separate buildings spanning two parcels, the property occupies a total of 15,090 land square feet on the corner of Wilton Place and La Mirada Avenue. The existing assets are available for an attractive 10.98 GRM with approximately 16% rent upside, in addition to potential future development possibilities adding flexibility to an investor's exit strategy. The large lot is zoned LAR3 and sits in a Tier 2 TOC area, while also holding ED1 eligibility. Located near Sunset Boulevard, the property...With four separate buildings spanning two parcels, the property occupies a total of 15,090 land square feet on the corner of Wilton Place and La Mirada Avenue. The existing assets are available for an attractive 10.98 GRM with approximately 16% rent upside, in addition to potential future development possibilities adding flexibility to an investor's exit strategy. The large lot is zoned LAR3 and sits in a Tier 2 TOC area, while also holding ED1 eligibility. Located near Sunset Boulevard, the property provides tenants with convenient access to several Hollywood destinations as well as the rest of the Los Angeles metro, via the nearby 101 Freeway. 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 property is just north of Paramount Studios, the Hollywood Forever Cemetery, and Melrose Hill. 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, Caf 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.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 5700 La Mirada Avenue

Zoning
LAR3
Parcel Number
5536005013
Total Units
13.0
Living Area
8445
Source Living Area
Assessor
Area
Hollywood (C20)
Vacancy Rate
3%
Lot Size Area
15090

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019
Add your commute
LISTING UPDATED: 04/16/2024 12:01 AM

Property Details for 5700 La Mirada Avenue

StatusActive
MLS #24-377957
Days on Market26
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1909
Lot Size0.35 AC / 15,090 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019
Add your commute

Building Information for 5700 La Mirada Avenue

Stories2Residences-Year Built1909Building Size-Lot Size0.35 AC / 15,090 SF

Payment Calculator

$17,254 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,772

Property Taxes

$1,482

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5700 La Mirada Avenue

Community / Development
Community / Development
  • Number Of Units: 13
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 4
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $255,254
  • Net Operating Income: $174,110.00
  • Gross Income: $263,148
  • Cap Rate: 6.02%
  • Gross Rent Multiplier: $10.98
  • Total Annual Expense: 81144
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.35
  • Lot Size Square Feet: 15090
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 15
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 04-09-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,558.00
  • Unit Actual Rent: $17,141.00
  • Unit Projected Rent: $20,845.00
  • Like Units: 11
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,300.00
  • Unit Actual Rent: $2,300.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,488.00
  • Unit Actual Rent: $2,488.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $825,481.00
  • Assessed Improvement Percent: 59.68
  • Assessed Land Value: $557,759.00
  • Assessed Land Percent: 40.32
  • Assessed Total Value: $1,383,240.00

Property History for 5700 La Mirada 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 5700 La Mirada Avenue

Taxable ValueLand$557,759Additions$825,766Total$1,383,525
Tax Record2023$17,785 ($1,482 / month)
Home Facts
Total Finished SqFt4,542 SqFtAbove Grade Finished SqFt4,542 SqFtLot Size7,589 SqFtStyleMulti-Family Res (5+ Units)Year Built1909ZoningLAR3CountyLOS ANGELESAPN5536-005-013

Schools near 5700 La Mirada Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Joseph Le Conte Middle School
Public6 to 8

Helen Bernstein High School
Public9 to 12

STEM Academy at Bernstein High
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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5700 La Mirada Avenue is a multi-family home for sale in Los Angeles, CA 90038. This property was listed for sale on April 8, 2024 by Marcus & Millichap, it's currently listed at $2,890,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Santa Monica Boulevard Community Charter School, Joseph Le Conte Middle School and Helen Bernstein High School. 5700 La Mirada Avenue is a 14-bed, 14-bath, 8,445 sqft multi-family home built in 1909.

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 Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

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.