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3520 W 5th St

Los Angeles, CA 90020
  • $2,295,000
  • STATUS: Active Under Contract
  • ON SITE: 137 Days
  • MLS #: 24-440381
Under Contract
$2,295,000
  • 12
    BEDS
  • 0.24
    ACRES
  • 12
    BATHS
  • 0
    1/2 BATHS
  • 8,956
    SQFT
  • $256
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1950
County:
Area:

School Ratings & Info

Description

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-02-08T23:43:14.49. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/155742439
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3520 W 5th St Los Angeles, CA 90020

  • Price: $2,295,000
  • Status: Active Under Contract
  • On Site: 137 Days
  • MLS #: 24-440381
12
Beds
12
Baths
0
½ Baths
0.24
Acres
8,956
SQFT
$256
$/SQFT
1950
Built
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
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.
Exterior Features

Carport Spaces Total 4 Covered Parking 8 Garage Structures Total 1 Levels Two Lot Size Area 10587 Other Structures None Parking Garage Community GarageCarport Detached Total Parking 10

Interior Features

Cooling None Equipment Range/Oven Flooring HardwoodLaminateTile Heating Wall

Property Features

Assessed Total Value 660423 Disclosures As Is Gross Income 227551 Gross Operating Income 227551 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 137104.00 Number Of Buildings 1 Number Of Units 6 Owner Pays WaterGardener Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 90447 Type Of Units 6 Apartments Year Built Source Vendor Enhanced Zoning LAR4-2 Tier 3 TOC

Listing provided courtesy of Wes Wellman DRE#00467451 of Wellman Realty Co.: 310-829-7423.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-02-08T23:43:14.49. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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