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$ 1,550,000
Est. payment /mo
Price Dropped by $86K
5430 Smiley DR Los Angeles, CA 90016
11 Beds
9 Baths
4,849 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,849 sqft
Price per Sqft $319
MLS Listing ID 25631731
Bedrooms 11
HOA Y/N No
Year Built 1961
Lot Size 9,600 Sqft
Property Description
Prime investment opportunity in the rapidly emerging West Adams submarket of Los Angeles. Located at 5430-5434 Smiley Drive, the property consists of 7 one bedroom one bathroom apartment units and 2 detached homes comprised of two bedroom units with one and one half bathrooms, all situated on approximately 9,601 square feet of land with convenient access to the I 10 freeway. This property is in an Opportunity Zone and a seismic retrofit has recently been completed, providing added long term stability and tax advantages, while significant value add potential remains throughout. The two detached homes offer compelling renovation and construction upside, creating an opportunity to further enhance rental income and overall asset value, in addition to ADU potential within the existing carport. The unique unit composition combined with below market rents presents an excellent opportunity for investors to capture nearly 60% rental upside with an attractive current cap of over 5.6%
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Cooling None
Fireplace No
Exterior
Parking Features Driveway, Garage, One Space, Tandem
Total Parking Spaces 5
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5043019005
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
Listed by Coby Chatwin Link Brokerages