5115 Clinton St - Apartments FOR SALE


Los Angeles, CA 90004- Hancock Park
$2,740,000 USD
310-869-9137
5115 Clinton St, Los Angeles, CA for Sale
$2,740,000 USD
Apartments - FOR SALE
1/22
null | 5.37% Cap Rate

5115 Clinton St
Los Angeles, CA 90004
Hancock Park


HIGHLIGHTS

  • 7 Unit Professionally Managed Trophy Asset Located In The Heart of Highly Desirable Larchmont & 2 Blocks From Paramount Studios
  • Fully Restored & Turn Key Building - All Units 100% Remodeled & Getting Market Rents
  • Brand New Electrical Service (2024), New Roof (2023), EQ Retrofit Completed (2023) & 100% Copper Plumbing
  • Gated, Reserved & On-Site Parking For All 7 Units
  • Separtely Metered For Gas & Electricity, and Tenants Pay RUBS For Water, Sewer & Trash
  • (4) Large 2 Bed/1.5 Bath Two Story Townhomes, (1) 1 Bed/1 Bath & (2) Large Studio Units

OVERVIEW

7 unit professionally managed trophy asset located in the heart of highly desirable Larchmont. Just 2 blocks from Paramount Studios, and less than half a mile to Hancock Park and Wilshire Country Club! Fully restored and turn-key building that will run with low maintenance/repairs and upkeep while having in-place market rate tenants on Day 1. All units were fully remodeled and installed brand new bathrooms, kitchens, AC units, in-unit washer & dryers, appliances, flooring, countertops, cabinets, shower tiling, light fixtures, windows, doors & molding, paint, vanities and much more! Great unit mix of: (4) Large 2 Bed/1.5 Bath Two Story Townhomes, (1) 1 Bed/1 Bath, & (2) Studios. All units have reserved on-site parking in the back which is high value for a thinly parked neighborhood. The entire electrical service (main panel, meters and subpanels) was replaced in 2024 and done with permits. New roof installed in 2023, and the building has 100% copper plumbing throughout. EQ retrofit completed in 2023, and all gas meters have EQ shut off valves installed already. Separately metered for gas & electricity, and all units are on RUBS for water, sewer and trash for utility reimbursements to help keep operating costs down and NOI high for great cash flow. Exterior of building received all new paint, new landscaping, new fencing, new lighting, and more! 5.37% cap rate on current rents and 2024 expenses (including new & updated tax rate & assessments based on list price and vacancy reserves -- although 100% occupied).

FOR SALE DETAILS

PRICE

$2,740,000 USD

PRICE/SF

$508 USD /SF

# OF UNITS

7

PRICE/UNIT

$391,429

CAP RATE

5.37%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,131 SF

ZONING

LAR3

APN/PARCEL ID

5522-006-009

ASK ABOUT THIS PROPERTY

Jonathan RawsonAvenue Realty Group/ARG CommercialMore Info
310-869-9137

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Jonathan RawsonAvenue Realty Group/ARG CommercialMore Info
310-869-9137

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.