Property listed by Marcus & Millichap, Filip Niculete 818-212-2700
$1,900,000
We pleased to present 5614 W Adams Boulevard, a seven-unit multifamily offering located in one of Los Angeles' fastest-growing submarkets. This investment combines stable in-place income, permitted renovation progress, rental upside, and long term development potential appealing to both value-add and buy-and-hold investors. Built in 1961 and subject to the… Read More City of Los Angeles Rent Stabilization Ordinance (RSO), the property consists of seven two-bedroom, one-bath units averaging 715 square feet. The 6,162-square-foot lot is zoned C2-1VL-CPIO, supporting by-right multifamily or commercial uses. Since acquisition in 2022, ownership has completed extensive capital improvements, including a new roof, major central plumbing upgrades, and a backflow water preventer. In 2024, ownership also completed landscaping, full exterior paint and re-stuccoing, and added a communal washer and dryer. Two units were fully renovated in 2024 with permits, featuring new double-pane windows, updated flooring, modern kitchen cabinetry, new appliances, in-unit washer/dryers, and mini-split HVAC systems. A third unit is currently vacant and down to the studs, with rough MEP inspections already passed and infrastructure in place for a washer/dryer, kitchen appliances, and mini-split HVACgiving an investor the opportunity to complete the unit to their own design. In-place rents present approximately 18% upside through continued turnover and interior upgrades. Additional building features include upgraded plumbing and electrical systems, tankless water heaters, and a soft-story seismic retrofit with Certificate of Compliance issued in 2019. The property includes seven parking spacesthree covered and four uncovered. Located in a Tier 2 TOC and High Quality Transit Corridor, the site offers future development flexibility, including increased density, mixed-use entitlement, or detached ADUs. The lot configuration may support one or more ADUs without requiring a zone change or complex entitlement process. Just west of La Cienega Boulevard, the property is walkable to the La Cienega/Jefferson Metro Station, the Cumulus District, and Whole Foods, with close proximity to Culver City, USC, Kaiser Permanente, and Downtown LA. The West Adams corridor continues to attract strong renter demand fueled by its evolving retail, dining, and cultural landscape. 5614 W Adams Boulevard presents a rare blend of current cash flow, tangible value-add potential, and long-term development upside in a prime infill location. Read Less
Listing Snapshot
Days Online
35
Last Updated
Property Type
Other
Beds
14
Square Ft.
5,028
Lot Size
0.14 Acres
Year Built
1961
MLS Number
25563139
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
Building
Built in 1961, Building area total: 5,028, Levels: Two, Living area: 5028, 2 stories, 7 buildings, Architectural style: , Attached, Common walls: OneCommonWall
Income
Gross income: $178,547, Net operating income: $114,375
Lot
0.1415 acres, 6,162 square feet, Size: 6,162
Parking
4 open parking spaces, 7 totals parking
Property
Zoning: LAC2
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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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