5115 Clinton ST #1 new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Single Family Home
Listing Status Active
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