5115 Clinton ST #1 Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
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
Lot Size 6,268 Sqft
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