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$ 2,750,000
Est. payment /mo
Active
5912 Willoughby Avenue Los Angeles, CA 90038
6,924 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,924 sqft
Price per Sqft $397
MLS Listing ID CL26864835
HOA Y/N No
Year Built 1979
Lot Size 6,497 Sqft
Acres 0.1492
Property Sub-Type Other
Property Description
The subject property is a twelve-unit multifamily asset located at 5912 Willoughby Avenue in the heart of Hollywood. Built in 1979 and zoned LAR3, the asset is governed by California's AB 1482 statewide rent cap rather than the stricter Los Angeles RSO. The unit mix comprises (1) Studio / 1-Bath and (9) 1-Bedroom / 1-Bath units, plus two brand-new ADUs (a Studio and a 1-Bedroom), across 6,924 building SF on a 6,495 SF lot, of wood-frame and stucco construction with individually metered utilities and on-site parking. The building delivers strong in-place cash flow, and the two brand-new ADUs, now nearing completion, are positioned to capture top-of-market rents upon delivery. Positioned within one of Los Angeles' most dynamic and walkable submarkets, the property sits minutes from the region's largest employment base in media and entertainment, including Paramount Pictures, Netflix, and Sunset Bronson Studios, along with the Melrose Avenue dining and retail corridor and the boutiques of Larchmont Village. Everyday conveniences including Pavilions, Trader Joe's, and Erewhon are within easy reach, and the Metro B (Red) Line at Hollywood/Vine offers a direct rail link to Downtown Los Angeles and the San Fernando Valley. Built in 1979, the property is exempt from the Los Angeles RSO and instead falls under California's AB 1482 statewide rent cap, allowing annual rent increases of up to 5% plus CPI, a meaningfully higher rent-growth ceiling than a locally rent-controlled asset. Hollywood remains a supply-constrained, high-demand rental market, drawing durable tenant demand from the surrounding studios, creative offices, and entertainment workforce.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
View Y/N false
View None
Building
Lot Description Other
Water Other
New Construction No
Others
Tax ID 5534030004
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Listed by Peter James • Lyon Stahl Investment Real Estate, Inc.