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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Kirshner Elkin Properties

Kirshner Elkin Properties

+1(424) 214-0133
$8,775,000
Est. payment /mo
38 Beds
39 Baths
26,403 SqFt
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 26,403 sqft

Price per Sqft $332

MLS Listing ID 25604529

Bedrooms 38

Year Built 1965

Tax Year 2025

Lot Size 0.395 Acres

Acres 0.3948

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 Hollywood

Zoning LAR4

Interior

Heating Wall

Laundry Community

Exterior

Garage Spaces 34.0

Roof Type Composition

Building

Story 3

Water District

Structure Type Stucco

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Kidder Mathews of California, Inc.

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