3520-3530 W 5th St
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3520-3530 W 5th St
6 Unit Block of Flats £1,795,723 (£299,287/Unit) 5.97% Net Initial Yield Los Angeles, CA 90020
Investment Highlights
- Option 1 - Hold as Conventional Rental and add 2 ADUs
- Option 3 - Hold as Conventional Rental and develop Later
- Option 2 - Develop - Building up to 50 potential units
Executive Summary
3 or More Options - Option 1 - Hold as conventional rental and add 2 ADUs; Option 2 - Develop-Build up to 50 potential units with AB 1287 or 26 units By-Right
based on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (Property
Report available on request) Option 3 - Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents are
projected. The rather conventional 50s exterior belies the interior vintage style. Unit interiors average just under 1500 SF. Most units retain vintage design touches with
updated modern amenities. More like homes than apartments, the units give the sense of being in a charming Hancock Park home. A truly, one-of-a kind building. Oh, and
did I mention it's smack dab in the middle of the Korea Town scene. Short distance to the iconic Chapman Plaza and public transportation. WalkScore.com: 95. Several
exterior virtual pictures including the main photo showing many color options have been added to the photos along with the current interior & exterior property photos. Click
on video links to see drone view. Gross income includes parking, laundry and other income in addition to projected rents for the possible addition of ADUs.
based on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (Property
Report available on request) Option 3 - Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents are
projected. The rather conventional 50s exterior belies the interior vintage style. Unit interiors average just under 1500 SF. Most units retain vintage design touches with
updated modern amenities. More like homes than apartments, the units give the sense of being in a charming Hancock Park home. A truly, one-of-a kind building. Oh, and
did I mention it's smack dab in the middle of the Korea Town scene. Short distance to the iconic Chapman Plaza and public transportation. WalkScore.com: 95. Several
exterior virtual pictures including the main photo showing many color options have been added to the photos along with the current interior & exterior property photos. Click
on video links to see drone view. Gross income includes parking, laundry and other income in addition to projected rents for the possible addition of ADUs.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,795,723 | Apartment Style | Low Rise |
| Price Per Unit | £299,287 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| Net Initial Yield | 5.97% | Building Size | 10,664 SF |
| Sale Conditions | Development Sale | Average Occupancy | 97% |
| Gross Rent Multiplier | 10.96 | Number of Floors | 2 |
| No. Units | 6 | Year Built | 1950 |
| Property Type | Residential | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £1,795,723 |
| Price Per Unit | £299,287 |
| Sale Type | Investment |
| Net Initial Yield | 5.97% |
| Sale Conditions | Development Sale |
| Gross Rent Multiplier | 10.96 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 10,664 SF |
| Average Occupancy | 97% |
| Number of Floors | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Fireplace
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Pantry
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1.5 | 6 | - | - |
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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (79)
PROPERTY TAXES
| Parcel Number | 5502-021-007 | Total Assessment | £527,082 (2024) |
| Land Assessment | £346,767 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £180,315 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5502-021-007
Land Assessment
£346,767 (2024)
Improvements Assessment
£180,315 (2024)
Total Assessment
£527,082 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | R4-4, Los Angeles (restricted Density Multiple Dwelling) |
| R4-4, Los Angeles (restricted Density Multiple Dwelling) |
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3520-3530 W 5th St
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