Multifamily
5460 Sierra Vista
5460 Sierra Vista Ave, Los Angeles, CA 90038
Listing Price: $9,300,000
Investment Overview
Marcus & Millichap (M&M), as the exclusive listing agent, is pleased to present the opportunity to acquire 5460 Sierra Vista (the “Property”), a 50-unit value-add opportunity located in the heart of Hollywood.
Originally built in 1956, and owned by the same family for the past 35+ years, 5460 Sierra Vista offers investors compelling value-add potential by upgrading features such as appliances, countertops, cabinetry, and flooring. Post renovation, rental income can be increased by approximately 31%.
5460 Sierra Vista offers an exciting location just steps from the new Echelon Studios development in the heart of Hollywood. Major entertainment industry titans such as Netflix, NBC/ Universal, Warner Brothers, and Paramount/Skydance are within a 5-10 minute commute, 3 million total jobs across a diverse set of industries are accessible within 20-30 minutes given proximity to the 101-freeway, and retail located on Santa Monica Boulevard is one block away.
Given the Property’s value-add potential, centralized Hollywood location, and favorable demand drivers, 5460 Sierra Vista is well positioned to deliver investors compelling returns and appreciation over the hold period.
Portfolio Offering: This Property is being offered concurrently with 1832 Garfield Place. The Properties can be purchased individually or together. Contact the listing agents to learn more.
5460 Sierra Vista
Investment Highlights
- FIRST TIME ON MARKET IN 35+ YEARS: 5460 Sierra Vista has been owned by the same family since 1988.
- HIGH ROI ON VALUE-ADD DOLLARS: By completing interior renovations commensurate with the renovated comparables in the submarket, rental income can be increased by approximately 31%.
- NOTABLE RECENT IMPROVEMENTS COMPLETED: Current ownership has completed a full copper re-pipe (2017), full window replacement (2024), new exterior paint (2023), and new roof replacement (2022).
- ONE BLOCK FROM THE ECHELON STUDIOS DEVELOPMENT: 5460 Sierra Vista is within one block of the highly anticipated Echelon Studios developed which is expected to open in late 2026.
- PROXIMITY TO NOTABLE EMPLOYMENT: Netflix, NBC Universal, Paramount/Skydance, and Warner Brothers Studios are all within a few minutes of 5460 Sierra Vista, making the Property an Ideal location for entertainment industry professionals.
- HOLLYWOOD REMAINS WELL UNDER SUPPLIED & DEVELOPMENT PIPELINE IS DWINDLING: Looking forward, there is a sharp decline in the number of projects and units in development in Hollywood as absorption continues to remain positive – the average annual supply growth rate will drop to 0.47% over the next 3 years.
- HIGH RATE OF RENTERSHIP IN HOLLYWOOD: Hollywood is projected to be a renter's market for the foreseeable future with an 80% renter base and a 420% affordability gap to home ownership.
Exclusively Listed By
Listing Price: $9,300,000
Investment Highlights
- FIRST TIME ON MARKET IN 35+ YEARS: 5460 Sierra Vista has been owned by the same family since 1988.
- HIGH ROI ON VALUE-ADD DOLLARS: By completing interior renovations commensurate with the renovated comparables in the submarket, rental income can be increased by approximately 31%.
- NOTABLE RECENT IMPROVEMENTS COMPLETED: Current ownership has completed a full copper re-pipe (2017), full window replacement (2024), new exterior paint (2023), and new roof replacement (2022).
- ONE BLOCK FROM THE ECHELON STUDIOS DEVELOPMENT: 5460 Sierra Vista is within one block of the highly anticipated Echelon Studios developed which is expected to open in late 2026.
- PROXIMITY TO NOTABLE EMPLOYMENT: Netflix, NBC Universal, Paramount/Skydance, and Warner Brothers Studios are all within a few minutes of 5460 Sierra Vista, making the Property an Ideal location for entertainment industry professionals.
- HOLLYWOOD REMAINS WELL UNDER SUPPLIED & DEVELOPMENT PIPELINE IS DWINDLING: Looking forward, there is a sharp decline in the number of projects and units in development in Hollywood as absorption continues to remain positive – the average annual supply growth rate will drop to 0.47% over the next 3 years.
- HIGH RATE OF RENTERSHIP IN HOLLYWOOD: Hollywood is projected to be a renter's market for the foreseeable future with an 80% renter base and a 420% affordability gap to home ownership.
Investment Overview
Marcus & Millichap (M&M), as the exclusive listing agent, is pleased to present the opportunity to acquire 5460 Sierra Vista (the “Property”), a 50-unit value-add opportunity located in the heart of Hollywood. Originally built in 1956, and owned by the same family for the past 35+ years, 5460 Sierra Vista offers investors compelling value-add potential by upgrading features such as appliances, countertops, cabinetry, and flooring. Post renovation, rental income can be increased by approximately 31%. 5460 Sierra Vista offers an exciting location just steps from the new Echelon Studios development in the heart of Hollywood. Major entertainment industry titans such as Netflix, NBC/ Universal, Warner Brothers, and Paramount/Skydance are within a 5-10 minute commute, 3 million total jobs across a diverse set of industries are accessible within 20-30 minutes given proximity to the 101-freeway, and retail located on Santa Monica Boulevard is one block away. Given the Property’s value-add potential, centralized Hollywood location, and favorable demand drivers, 5460 Sierra Vista is well positioned to deliver investors compelling returns and appreciation over the hold period. Portfolio Offering: This Property is being offered concurrently with 1832 Garfield Place. The Properties can be purchased individually or together. Contact the listing agents to learn more.
Exclusively Listed By
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