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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 2,575,000

Est. payment -/mo

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Pending

5115 Clinton ST #1 Los Angeles, CA 90004

10 Beds

11 Baths

5,393 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Pending

Purchase Type For Sale

Square Footage 5,393 sqft

Price per Sqft $477

MLS Listing ID 25566729

Bedrooms 10

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1962

Property Description

Beautifully remodeled and high in-place cash flow trophy asset located in the heart of A+ Larchmont and just blocks away to Historic Hancock Park and Wilshire Country Club! This professionally managed building has been fully restored and is being offered a true 6.01% current cap rate (based on current rents, new tax rate, and May 2024 to May 2025 actual expenses). 6 of the 7 units are eligible for 4% rent increases to take the cap rate to 6.27%! All units were gut remodeled and have brand new bathrooms, kitchens, living rooms, bedrooms, in-unit air conditioning units, in-unit washer & dryers, stainless steel appliances, flooring, retrofitted windows, quartz countertops, tile, light fixtures, moulding, and so much more! In an area that lacks parking, there is on-site, gated and reserved parking for each unit! Desirable unit mix of (4) Large 2 Bedroom/1.5 Bath Two Story Townhomes, (1) 1 Bed/1 Bath & (2) Large Studios. In addition to brand new remodeled units, the entire electrical service (main panel, meters & subpanels) was completely replaced in 2024 and permits pulled. The roof was replaced in 2023, EQ retrofit work was competed in 2023, and the plumbing is 100% copper throughout! Utility expenses run low because the units are separately metered for gas & electricity, and ALL units are on RUBS for water, sewer and trash reimbursements to help keep a healthy NOI! The exterior was also fully restored with all new paint, fencing, lighting, and landscaping! Being 2 blocks from Paramount Studios and a household income of $118,134, this building and its location will always be high-in-demand in the rental market for generations to come!

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning LAR3

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer

Exterior

Parking Features Attached Carport, Assigned, Covered, Carport

Pool None

Community Features Gated

Total Parking Spaces 7

Private Pool No

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5522006009

Security Features Security Gate,Gated Community

Financing Assumed,Cash,Conventional

Special Listing Condition Standard

Listed by Rob Kellner Avenue Realty Group

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

5115 Clinton ST #1 Los Angeles, CA 90004

Key Details

Location

Interior

Exterior

Building

Others

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5115 Clinton ST #1