Skip to main content

Multifamily

5555 Carlton Way

5555 Carlton Way, Los Angeles, CA 90028

Listing Price: $7,995,000

Cap Rate
3.86%
Number of Units
26
Price/Unit
$307,500
Price/Gross SF
$610.96
Gross SF
13,086

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 5555 Carlton Way, a 26-unit multifamily property situated near the intersection of Hollywood Boulevard and Western Avenue in Hollywood, CA. Located within a neighborhood that has experienced an influx of capital from both institutional multifamily investors and large movie studios, local rents have steadily risen, which may allow a new owner to improve income at the property. While similar buildings in the area have sold for more than $325,000 per unit, 5555 Carlton Way is available for only $307,500 per unit. The large corner lot totals 17,618 square feet and is zoned LAR4 with a Tier 4 TOC designation (Buyer to verify), which could allow future development potential. Tenants in this property benefit from its close proximity to the long-awaited Hollywood Target store, which opened in late-2020, as well as several shops and restaurants along Hollywood Boulevard, Sunset Boulevard, and Western Avenue. The Hollywood/Western Metro station is just one block away, while Ralphs and Walgreens are within walking distance as well. A trend of studio space expansion has dramatically improved the local neighborhood, including a joint venture between The Blackstone Group and Hudson Pacific Partners to redevelop and expand the nearby Sunset Bronson Studios and Sunset Gower Studios. Netflix recently leased out nearly the entire 14-story ICON office tower at the corner of Sunset Boulevard and Van Ness Avenue, just one half-mile from the property.

Investment Highlights

  • Excellent Hollywood Location - One Block from Hollywood Boulevard and Western Avenue Intersection
  • Blocks from Hollywood Hills and Los Feliz -- Short Drive to Silver Lake, Echo Park, and Koreatown
  • Attractive Price per Unit When Compared with Recent Sales in the Area
  • Full Copper Plumbing Installed in 2021
  • Walking Distance to New Hollywood Target, Ralphs, Walgreens, and Hollywood/Western Metro Station
  • Large 17,618 Square Foot Corner Lot Zoned LAR4 in a Tier 4 TOC (Buyer to Verify)
  • Situated Along Revitalized Corridor of Hollywood Boulevard -- Several Luxury Multifamily Complexes in Immediate Area
  • Property Benefits from Emerging Trend of Major Studio Expansions -- Near New Sunset Bronson and Sunset Gower Studios, Netflix's New ICON Office Tower

Exclusively Listed By

Financing By

Multifamily

5555 Carlton Way

Listing Price: $7,995,000

Cap Rate
3.86%
Number of Units
26
Price/Unit
$307,500
Price/Gross SF
$610.96
Gross SF
13,086

Investment Highlights

  • Excellent Hollywood Location - One Block from Hollywood Boulevard and Western Avenue Intersection
  • Blocks from Hollywood Hills and Los Feliz -- Short Drive to Silver Lake, Echo Park, and Koreatown
  • Attractive Price per Unit When Compared with Recent Sales in the Area
  • Full Copper Plumbing Installed in 2021
  • Walking Distance to New Hollywood Target, Ralphs, Walgreens, and Hollywood/Western Metro Station
  • Large 17,618 Square Foot Corner Lot Zoned LAR4 in a Tier 4 TOC (Buyer to Verify)
  • Situated Along Revitalized Corridor of Hollywood Boulevard -- Several Luxury Multifamily Complexes in Immediate Area
  • Property Benefits from Emerging Trend of Major Studio Expansions -- Near New Sunset Bronson and Sunset Gower Studios, Netflix's New ICON Office Tower

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 5555 Carlton Way, a 26-unit multifamily property situated near the intersection of Hollywood Boulevard and Western Avenue in Hollywood, CA. Located within a neighborhood that has experienced an influx of capital from both institutional multifamily investors and large movie studios, local rents have steadily risen, which may allow a new owner to improve income at the property. While similar buildings in the area have sold for more than $325,000 per unit, 5555 Carlton Way is available for only $307,500 per unit. The large corner lot totals 17,618 square feet and is zoned LAR4 with a Tier 4 TOC designation (Buyer to verify), which could allow future development potential. Tenants in this property benefit from its close proximity to the long-awaited Hollywood Target store, which opened in late-2020, as well as several shops and restaurants along Hollywood Boulevard, Sunset Boulevard, and Western Avenue. The Hollywood/Western Metro station is just one block away, while Ralphs and Walgreens are within walking distance as well. A trend of studio space expansion has dramatically improved the local neighborhood, including a joint venture between The Blackstone Group and Hudson Pacific Partners to redevelop and expand the nearby Sunset Bronson Studios and Sunset Gower Studios. Netflix recently leased out nearly the entire 14-story ICON office tower at the corner of Sunset Boulevard and Van Ness Avenue, just one half-mile from the property.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower