Los Angeles, CA 90016,5430 Smiley DR
Los Angeles, CA 90016,5430 Smiley DR
Los Angeles, CA 90016,5430 Smiley DR
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Terrance Scotton

Terrance Scotton

+1(626) 788-9299
$1,550,000
Est. payment /mo
11 Beds
9 Baths
4,849 SqFt
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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

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CRMLS – RECore
Listed by Coby Chatwin Link Brokerages

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Terrance Scotton

Terrance Scotton

+1(626) 788-9299

Real Estate Broker and Mortgage Broker | License ID: 01707848 NMLS: 908256

Real Estate Broker and Mortgage Broker License ID: 01707848 NMLS: 908256

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