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3520 5th Street
Los Angeles, CA 90020
3 or More Options - Option 1 - Hold as conventional rental and add 2 ADUs; Option 2 - Develop-Build up to 50 potential units with AB 1287 or 26 units By-Right based on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (Property Report available on request) Option 3 - Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents are projected. The rather conventional 50s exterior belies the interior vintage style. Unit interiors average just under 1500 SF. Most units retain vintage design touches with updated modern amenities. More like homes than apartments, the units give the sense of being in a charming Hancock Park home. A truly, one-of-a kind building. Oh, and did I mention it's smack dab in the middle of the Korea Town scene. Short distance to the iconic Chapman Plaza and public transportation. WalkScore.com: 95. Several exterior virtual pictures including the main photo showing many color options have been added to the photos along with the current interior & exterior property photos. Click on video links to see drone view. Gross income includes parking, laundry and other income in addition to projected rents for the possible addition of ADUs.
PROPERTY INFORMATION
| MLS # | 24440381 | Lot Size | 10,587 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 2,295,000
Price Per SqFt: $ 256 |
DOM | 256 Days |
| Address | 3520 5th Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 8,956 Sq. Ft. |
| Postal Code | 90020 | Garage | 4 |
| County | Los Angeles | Year Built | 1950 |
| Bed / Bath | 12 / 0 | Parking | 10 |
| Built In | 1950 | Status | Active |
INTERIOR FEATURES
| Has Appliances | Yes |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | No |
| Cooling Information | None |
| Flooring Information | Wood, Laminate, Tile |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,448
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 09/24/2024 | Listed | $2,495,000 |
| 09/23/2024 | Relisted | $2,295,000 |
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Listing provided courtesy of Wes Wellman, Wellman Realty Co.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
