Property listed by Jordan Peikin, Jordan Peikin 310-467-5167
$1,450,000
5511 Smiley Drive is a 7-unit apartment building situated in the heart of the burgeoning West Adams neighborhood. A savvy investor will have the opportunity to increase the building's value by exploiting its huge rental upside (approximately 66%), by way of future tenant turnover and capital improvements. The property's diverse… Read More unit mix consists of one 2+2, three 2+1's, and three 1+1's. Numerous upgrades such as security camera installation, vinyl windows, a newer roof, and exterior paint have been made for lower maintenance ownership. There is ample tenant parking, owned communal laundry machines, and a storage room that could be rented or retained for the owner's use. Lastly, the 7,200 square foot lot is 50% larger than the standard 4,800 square foot lot for the area. Superbly located just steps away from the heart of the West Adams commercial corridor, 5511 Smiley Drive provides residents with many of the great things LA has to offer right outside their front door. The property features a stellar 83 walk score and is central to major employment, freeways, and points of interest alike. Tenants with children have numerous nearby parks and schools to choose from, including Westside Neighborhood Park, Marvin Avenue Elementary, and Hamilton High School. Public transit is also easily accessible at the La Cienega/Jefferson Metro station at just 0.7 miles away. With 5511 Smiley, investors can hedge against inflation, leverage tax advantages, and add more value. Read Less
Listing Snapshot
Days Online
45
Last Updated
Property Type
Other
Beds
11
Square Ft.
5,670
Lot Size
0.17 Acres
Year Built
1964
MLS Number
25557631
30 Days Snapshot Of 90016
$1.02M
-11%
(avg) sold price
9
-47%
homes sold
71
+22%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Disposal, Microwave, Refrigerator
Building
Built in 1964, Building area total: 5,670, Levels: Two, Living area: 5670, 2 stories, 1 building, Construction materials: Frame, Stucco
Fireplaces
None
Floors
Carpet, Laminate, Tile
Income
Gross income: $119,758, Net operating income: $76,209
Interior Features
CeilingFans
Laundry
CommonArea, LaundryRoom
Lot
0.1652 acres, 7,198 square feet, Size: 7,198
Parking
7 open parking spaces, 10 totals parking, Assigned, Carport, Garage, SideBySide, Tandem
Pool
None
Property
Zoning: LARD2, CityLights
Roof
Composition
Security Features
CarbonMonoxideDetectors, SmokeDetectors
Spa
None
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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