5010-5016 W Washington Blvd - Apartments FOR SALE


Los Angeles, CA 90016- Mid-City
$4,995,000 USD
310-550-2592
5010-5016 W Washington Blvd, Los Angeles, CA for Sale
$4,995,000 USD
Apartments - FOR SALE
1/15
null | 6.32% Cap Rate

5010-5016 W Washington Blvd
Los Angeles, CA 90016
Mid-City


OVERVIEW

CBRE Inc., as exclusive advisor to the Seller, is proud to present 5010-5016 W. Washington Blvd. located in the Mid-City neighborhood of Los Angeles. This exceptional opportunity caters to a wide range of investors and users. The multifamily units are not subject to Los Angeles RSO rent increase protections, please view the letter from HCIDLA in the deal room for background. The property is comprised of a vacant 1,170 square-foot commercial building and yard of approximately 9,759 square feet of lot area at 5010 W. Washington Blvd. and a 15-unit apartment complex at 5016 W. Washington Blvd. The total combined lot area is approximately 19,518 square feet zoned LAC2 with TOC Tier 2 status. The apartment portion boasts 8 current vacancies (over 50%), allowing a buyer to reposition the property as desired with market or subsidized tenants. The entire property was renovated inside and out, including all new major systems, in 2003. The commercial portion is currently being marketed for lease on a triple net basis. The property also represents an incredible owner-user opportunity as a business owner may occupy the commercial portion and enjoy the additional apartment income of approximately $24,200 per month. The surrounding area is a dynamic and diverse urban community that offers a blend of residential comfort and commercial convenience. The property sits on a major east-west thoroughfare, providing direct access to a wide variety of amenities, shops, and casual eateries that cater to a vibrant local population. This stretch of Washington Boulevard has a tangible urban feel, with a mix of small businesses, art spaces, and local cafes that give the area its unique character. The neighborhood is highly walkable, with a very high Walk Score, allowing residents to complete most daily errands on foot. For those who rely on public transportation, the location is exceptionally well-connected, with bus lines running directly along Washington Boulevard and the Metro E Line (light rail) providing quick access to Downtown Los Angeles and Santa Monica. This easy connectivity, combined with its central location, places residents within a short drive or transit ride of major Los Angeles destinations, from the cultural institutions of the Miracle Mile to the bustling commercial hubs of Koreatown. Please visit the Property Website https://www.cbrewashington.com to view the Offering Memorandum.

FOR SALE DETAILS

PRICE

$4,995,000 USD

PRICE/SF

$834 USD /SF

# OF UNITS

15

PRICE/UNIT

$333,000

CAP RATE

6.32%

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vacant Commercial + 15 Multifamily Units

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,518 SF

ZONING

LAC2

APN/PARCEL ID

5062-004-013

ASK ABOUT THIS PROPERTY

310-550-2592

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

310-550-2592

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.