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$ 8,550,000
Est. payment | /mo
20,700 SqFt
$ 8,550,000
Est. payment | /mo
20,700 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 20,700 sqft
Price per Sqft $413
MLS Listing ID CL25541819
HOA Y/N No
Year Built 1924
Lot Size 0.384 Acres
Acres 0.38
Property Sub-Type Other
Property Description
5826 Carlton Way presents a rare opportunity to acquire a historically significant multifamily asset in the heart of Hollywood. Built in 1924 by Paramount Pictures to house its actors during the Golden Age of cinema, this character-rich property known today as Carlton Canyon Apartments offers a blend of classic architecture and modern living amenities. Offered as a portfolio sale at $8,550,000, the package includes the 36-unit + 2 ADU's apartment building priced at $7,750,000, and a separately parceled 4,468 SF parking lot across the street listed at $800,000. Zoned Q R4-1VL, Tier 3 TOC, the lot presents a compelling development opportunity. While a high-density build of ~20 units is feasible, a more straightforward approach could be a 3-story multifamily structure with fewer units. The two parcels are described under separate APNs with no covenant tying them together, allowing a buyer to sell them individually if desired. Some tenants have parking as a lease provision, while others hold it under addenda, creating flexibility for future parking income or redevelopment plans. The building is operating at a 3.76% cap rate based on current income, with a market upside to 7.28%. and a low $225K per door. The unit mix consists of 1 bachelor, 35 studios, and 2 newly built ADUs. Approxi
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Laundry See Remarks
Exterior
View Y/N true
View Other
Building
New Construction No
Others
Tax ID 5545010017
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Listed by Shaya Braverman • Keller Williams Beverly Hills