3520 W 5TH ST
LOS ANGELES, CA 90020
$2,295,000
12 Beds
12 Baths
8,956 Sq Ft
Status Active
MLS# 24-440381
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.
Details for 3520 W 5TH ST
Built in 1950
$256 / Sq Ft
10 parking spaces
None
Wall
2 Days on website
0.243 acres lot
About the Wilshire Center Neighborhood
Those who enjoy a vibrant atmosphere and spending time outdoors will feel at home in Wilshire Center. There are numerous dynamic parts in this neighborhood to visit. Despite the fact that there are few nearby entertainment venues, there are a very large number of people around most of the time, and with its approximately 40 bars, there are options for nighttime activities. Main streets, such as Beverly Boulevard, are excellent for those who like going out. Accessing public green spaces is easy from a lot of locations within the neighborhood since there are a few of them close by for residents to unwind in.
- Overview
- Elementary Schools (5)
- GroceriesSeveral grocery stores nearby.
- ShoppingWide variety of shops within a few minutes' walk.
- DaycaresAt least one daycare within a 5-minute walk.
- Elementary SchoolsAt least one elementary school within a 5-minute walk.
- Transit friendlyWithin walking distance of a subway and frequent bus lines.