CA > Los Angeles
Los Angeles, CA 90028,5535 Carlton WAY
Los Angeles, CA 90028,5535 Carlton WAY
Los Angeles, CA 90028,5535 Carlton WAY
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$8,775,000
Est. payment /mo
0.39 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25604529

HOA Y/N No

Year Built 1965

Tax Year 2025

Lot Size 0.395 Acres

Property Description

Kidder Mathews, as exclusive agent, is pleased to present The Carlton Apartments, a 36-unit modernized apartment community in the heart of Hollywood's studio district. The Carlton Apartments is a substantially renovated 36-unit apartment community consisting of 1 studio, 32 spacious One Bedroom/One Bath units, and 3 Two Bedroom/One Bath units. The property features an updated facade, refreshed common areas, large private gym, and furnished back patio delivering exceptional curb appeal and an elevated living experience. Residents also benefit from contemporary interior upgrades in select units, a beautifully landscaped central courtyard, and abundant 34 parking spaces in a gated subterranean garage with elevator access to all floors. The property presents the opportunity to acquire a prominently located and renovated Hollywood asset, with an attractive going-in cap rate of 6.53% and a low GRM of 9.61.There remains notable upside approximately 16% in rental income achievable through strategic unit turnover and renovation. Hollywood has undergone a major development boom in recent years, bringing new energy and investment to the neighborhood. While this surge initially pressured rents, most new deliveries have now been absorbed. Today, the pipeline is supply-constrained: only one major project is slated to deliver through Q3 2027, and construction starts within a one-mile radius have effectively stalled just 42 units in 2024 and zero year-to-date in 2025, compared to a 10-year average of 479 units annually. This sharp slowdown combined with strong renter demand, positions The Carton Apartments for meaningful near-term rent growth. Strategically situated less than a block away from the Hollywood/Western Metro station and only a 10-minute walk to Netflix, the subject property offers exceptional accessibility in Hollywood's vibrant studio district. Residents benefit from close proximity to major entertainment industry employers including Paramount Studios, Sunset Gower Studios, Viacom, and Technicolor. The neighborhood's appeal is further enhanced by an abundance of trendy restaurants, popular cafes, grocery stores, and vibrant nightlife options. With an impressive Walk Score in the 90s, the property provides residents with an ideal balance of urban convenience and lifestyle amenities, ensuring continued desirability among young professionals and families alike.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR4

Interior

Heating Wall Furnace

Fireplace No

Laundry Common Area

Exterior

Community Features Gated

Utilities Available Electricity Available, Natural Gas Available

Roof Type Composition

Total Parking Spaces 34

Building

Story 3

Water Public

Others

Tax ID 5544025028

Security Features Gated Community

Special Listing Condition Standard

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CRMLS – RECore
Listed by Darin Beebower Kidder Mathews of California, Inc.

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