5826 Carlton Way presents a rare opportunity to acquire a historically significant multifamily asset in the heart of Hollywood. Built in 1924 by Paramount Pictures to house its actors during the Golden Age of cinema, this character-rich property known today as Carlton Canyon Apartments offers a blend of classic architecture and modern living amenities. Offered as a portfolio sale at $8,550,000, the package includes the 36-unit + 2 ADU's apartment building priced at $7,750,000, and a separately parceled 4,468 SF parking lot across the street listed at $800,000. Zoned Q R4-1VL, Tier 3 TOC, the lot presents a compelling development opportunity. While a high-density build of ~20 units is feasible, a more straightforward approach could be a 3-story multifamily structure with fewer units. The two parcels are described under separate APNs with no covenant tying them together, allowing a buyer to sell them individually if desired. Some tenants have parking as a lease provision, while others hold it under addenda, creating flexibility for future parking income or redevelopment plans. The building is operating at a 3.76% cap rate based on current income, with a market upside to 7.28%. and a low $225K per door. The unit mix consists of 1 bachelor, 35 studios, and 2 newly built ADUs. Approximately 25 units have been remodeled, 75% of tenants are on RUBS, and the property features new copper wiring, sporadic copper plumbing, and landlord-owned basement laundry for additional income.
For sale
$8,550,000
5826 Carlton Way, Los Angeles, CA 90028
--beds
0baths
20,700sqft
Est.:
Multi Family
Built in 1924
-- sqft lot
$-- Zestimate®
$413/sqft
$-- HOA
What's special
- 92 days
- on Zillow |
- 61 |
- 7 |
Zillow last checked: 7 hours ago
Listing updated: May 21, 2025 at 06:11am
Listed by:
Shaya Braverman DRE # 01861842 310-614-8572,
Keller Williams Beverly Hills 310-432-6400
Source: CLAW,MLS#: 25541819

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Wall
Cooling
- Ceiling Fan(s), Wall Unit(s)
Appliances
- Included: Disposal, Range/Oven, Refrigerator
- Laundry: Other
Features
- Ceiling Fan(s), Elevator
Interior area
- Total structure area: 20,700
- Total interior livable area: 20,700 sqft
Property
Parking
- Total spaces: 35
- Parking features: Open
- Has uncovered spaces: Yes
Features
- Levels: Three Or More
- Stories: 3
- Has view: Yes
- View description: Landmark
Lot
- Size: 0.28 Acres
Details
- Additional structures: None
- Has additional parcels: Yes
- Zoning: LAR4
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Year built: 1924
Community & HOA
Community
- Security: None
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $413/sqft
- Tax assessed value: $5,689,142
- Date on market: 5/21/2025
- Tenant pays: Electricity, Gas, Water
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