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For sale
  • $8,550,000

    5826 Carlton Way, Los Angeles, CA 90028

    --beds
    0baths
    20,700sqft
    : 
    Multi Family
    Built in 1924
    -- sqft lot
    $-- Zestimate®
    $413/sqft
    $-- HOA

    What's special

    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.
    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#: 25541819MLS Logo
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 5826 Carlton Way.

    Next available tour time:Tomorrow at 11am

    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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