5826 Carlton WAY, Los Angeles, CA 90028
5826 Carlton WAY, Los Angeles, CA 90028
5826 Carlton WAY, Los Angeles, CA 90028
5826 Carlton WAY, Los Angeles, CA 90028
5826 Carlton WAY, Los Angeles, CA 90028
5826 Carlton WAY, Los Angeles, CA 90028
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Shantrece's Assistant

+1(904) 846-3855
$ 8,550,000
Est. payment | /mo

20,700 SqFt

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$ 8,550,000
Est. payment | /mo
Save

20,700 SqFt

Key Details

Property Type Other Types

Listing Status Active

Purchase Type For Sale

Square Footage 20,700 sqft

Price per Sqft $413

MLS Listing ID 25541819

HOA Y/N No

Year Built 1924

Lot Size 0.384 Acres

Property Description

5826 Carlton Way presents a rare opportunity to acquire a historically significant multifamily asset in the heart of Hollywood. Built in 1924 by Paramount Pictures to house its actors during the Golden Age of cinema, this character-rich property known today as Carlton Canyon Apartments offers a blend of classic architecture and modern living amenities. Offered as a portfolio sale at $8,550,000, the package includes the 36-unit + 2 ADU's apartment building priced at $7,750,000, and a separately parceled 4,468 SF parking lot across the street listed at $800,000. Zoned Q R4-1VL, Tier 3 TOC, the lot presents a compelling development opportunity. While a high-density build of ~20 units is feasible, a more straightforward approach could be a 3-story multifamily structure with fewer units. The two parcels are described under separate APNs with no covenant tying them together, allowing a buyer to sell them individually if desired. Some tenants have parking as a lease provision, while others hold it under addenda, creating flexibility for future parking income or redevelopment plans. The building is operating at a 3.76% cap rate based on current income, with a market upside to 7.28%. and a low $225K per door. The unit mix consists of 1 bachelor, 35 studios, and 2 newly built ADUs. Approximately 25 units have been remodeled, 75% of tenants are on RUBS, and the property features new copper wiring, sporadic copper plumbing, and landlord-owned basement laundry for additional income.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR4

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Fireplace No

Appliance Disposal, Refrigerator

Laundry See Remarks

Exterior

Parking Features Uncovered

View Y/N Yes

View Landmark

Total Parking Spaces 35

Building

Faces North

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5545010017

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Shaya Braverman • Keller Williams Beverly Hills

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5826 Carlton WAY