Los Angeles, CA 90029 5345 La Mirada Avenue
$2,500,000
36 more
Presented By: Cynthia Burts with Burts & Associates; 310-308-8003
Home Details
The 5345 La Mirada Avenue Hollywood Apartment building as an investment opportunity to acquire a 10-unit, 3-story building with ground-level parking that has many recent renovations. The building has a strong unit mix of large units made up of (2) two-bedrooms and (8) one-bedrooms. These large units are 800 sf for the two-bedrooms and 600 sf for the one-bedrooms. These spacious units have city views and are well-lit. Five of the units have been completely renovated with new Kitchens, new Bathrooms, large new dual-pane windows, new Kitchen and Bathroom fixtures, large mirrored door Closets, and New Paint. These must-see units offer hardwood flooring, A/C units, ample storage, and ceiling fans. The two (2) bedroom end units feature windows on three sides of each unit with fantastic city views of Hollywood and DTLA. The (1) bedroom units have incredible East and West views of the city.
The building is well-maintained and professionally managed and is in great condition. The building has new exterior paint, is beautifully landscaped, and there is ample parking with (8) tandem covered and (2) covered single parking spaces. The property has security fencing and a secured gated entrance for walking and parking accessibility. There is an on-site laundry facility for 24-hour tenant use. The building is separately metered for both gas and electricity. There are remote security cameras throughout the property that allow ownership 24-hour viewing access.
There is an excellent ADU opportunity for this deal with the (8) large tandem parking spaces in the ground-level parking area. In addition, there is a large owner unit-type space that could easily be converted into an ADU space. This is an incredible opportunity to take advantage of LA's need to add more housing and increase capital through building ADUs on land you already own.
The property is located in a quiet Hollywood neighborhood that features easy access to transportation, shopping, schools, and major Hollywood attractions. Just down the block is the La Mirada city park which is ideal for kids and a quiet break from city life. There is also ample street parking for visitors or guests. Enjoy the fun and excitement of Hollywood while owning in a quiet Hollywood neighborhood area. There is easy access to the Santa Monica and Hollywood Blvd 101 Freeway off-ramps and exits.
Presented By: Cynthia Burts with Burts & Associates; 310-308-8003
Interior Features for 5345 La Mirada Avenue
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
FlooringTile, Wood
Heating Y/NYes
Laundry FeaturesCommonArea, Inside
Total Stories3
Other Rooms
Entry Level1
General for 5345 La Mirada Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate3.36
Carport Spaces2.0
Carport Y/NYes
CityLos Angeles
Community FeaturesCurbs, StormDrains, StreetLights, Sidewalks, Urban
CoolingWallWindowUnits
CountyLos Angeles
Days on Market179
Directions101 Freeway, Exit Santa Monica Blvd and Go East, Go Left-North on Hobart Blvd to La Mirada Ave, Go Left-West to 5345 La Mirada on the North Side of the Street
Electric Expense1477.0
Entry LocationFront Gate
Fuel Expense2050.0
Garage Spaces16.0
Garage Y/NYes
Gross Income171259.0
HeatingWallFurnace
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense16963.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet7502.0
Lot Size UnitsSquareFeet
MLS AreaC20 - Hollywood
MaintenanceExpense9623.0
MobileHomeRemainsYNNo
Net Operating Income83925.0
New ConstructionNo
NumberOfUnitsTotal10
Operating Expense85246.0
Pool FeaturesNone
Private PoolNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot21
Taxes$32,425
TermsCash, CashtoNewLoan, Item1031Exchange
Trash Expense1200.0
View Y/NNo
Water Sewer Expense4000.0
Waterfront Y/NNo
Year Built1965
Year Built SourceAssessor
ZoningLARD1.5
Exterior for 5345 La Mirada Avenue
Building Area Total8646.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesGarden, Level, RectangularLot
Lot Size Acres0.1722
Lot Size Area7502.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters11
Number of Separate Gas Meters11
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesAssigned, ControlledEntrance, Paved
SpaNo
Total Parking18.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480