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2511 W 5th Street, Los Angeles, California 90057, Los Angeles, 90057 - bed, bath

2511 W 5th Street, Los Angeles, California 90057 home-pic-0
ACTIVE$1,150,000
2511 W 5th Street, Los Angeles, California 90057
0Bed
0Bath
1,782Sqft
2,396Lot
Year Built
1951
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
$645
HOA
-
Days on market
-
Sold On
-
MLS number
PW25157926
Home ConditionFair
Features
Good View: Hills, Peek-A-Boo
Deck
ViewHills, Peek-A-Boo

About this home

We found 3 Cons,5 Pros.

Welcome to 2511 W. 5th St, a distinguished piece of architectural character nestled in the dynamic Westlake neighborhood of Los Angeles. Originally constructed in 1951, this multi-family property delivers approximately 1,782sqft of living space across two legal units, ideal for dual occupancy or investment rentals. You're greeted by striking mid-century lines and a timeless facade that make a confident statement on a cul-de-sac near Koreatown and Downtown L.A. Two 1-bedroom, 1-bath units offering private comfortable living spaces, peek-a-boo view of Hollywood sign from upper level deck space, in-unit laundry, dedicated garage parking and there is an underutilized bonus studio, non-conforming but complete with kitchenette and bath. Brimming with potential - approved City plans are ready to convert the bonus studio into a fully permitted Accessory Dwelling Unit (ADU). This property stands out not just for square footage and for ADU potential but for also its architectural presence. Built in the early postwar era, its clean lines and period-modern aesthetic give it a rare appeal in today's market. It’s the kind of property that sparks conversation, aesthetic appreciation, and value. Online rent estimates suggest potential rents of up to $3,991/month per unit, underscoring strong rental upside. Strategically positioned between Koreatown and Downtown L.A., the area is undergoing rapid transformation with new luxury projects nearby — positioning this property for meaningful appreciation.

Nearby schools

3/10
Charles White Elementary School
Public,•1-5•0.3mi
/10
Lafayette Park Primary Center
Public,•K•0.3mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.4mi
/10
Lake Street Primary School
Public,•K-1•0.5mi
5/10
Union Avenue Elementary School
Public,•K-5•0.6mi
8/10
Hoover Street Elementary School
Public,•K-5•0.6mi
2/10
Esperanza Elementary School
Public,•K-5•0.6mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.7mi
5/10
Commonwealth Avenue Elementary School
Public,•K-5•0.9mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•1.0mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.0mi
3/10
Leo Politi Elementary School
Public,•K-5•1.0mi
2/10
Tenth Street Elementary School
Public,•K-5•1.1mi
4/10
Betty Plasencia Elementary School
Public,•K-6•1.2mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.2mi
6/10
Castelar Street Elementary School
Public,•K-5•2.1mi
3/10
John H. Liechty Middle School
Public,•6-8•0.7mi
3/10
Sal Castro Middle School
Public,•6-8•0.8mi
5/10
Virgil Middle School
Public,•6-8•1.1mi
3/10
Berendo Middle School
Public,•6-8•1.3mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.2mi
3/10
Belmont Senior High School
Public,•9-12•0.8mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.1mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.1mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.1mi
8/10
John Marshall Senior High School
Public,•9-12•3.1mi

Price History

Date
Event
Price
03/08/22
Sold
$750,000
06/15/09
Sold
$270,000
Condition Rating
Fair
The property was built in 1951. The kitchens and bathrooms appear dated, with older appliances and fixtures. While the property seems maintained, it requires updates to meet modern standards. The presence of a bonus studio with ADU potential suggests some level of ongoing investment, but the overall condition reflects its age and the need for minor to moderate renovations.
Pros & Cons

Pros

Investment Potential: The property features two legal units and a non-conforming bonus studio with ADU potential, offering multiple income streams.
Approved ADU Plans: City-approved plans are in place to convert the bonus studio into a fully permitted Accessory Dwelling Unit (ADU), adding significant value.
Strategic Location: Located between Koreatown and Downtown L.A., the property benefits from a rapidly transforming area with new luxury projects nearby, positioning it for appreciation.
Mid-Century Architecture: The property boasts striking mid-century lines and a timeless facade, offering a rare architectural appeal.
Rental Income Upside: Online rent estimates suggest potential rents of up to $3,991/month per unit, indicating strong rental income potential.

Cons

Non-Conforming Studio: The bonus studio is currently non-conforming and requires conversion to a permitted ADU.
Age of Property: Built in 1951, the property may require updates or renovations to meet modern standards.
Limited View: The property only offers a 'peek-a-boo' view of the Hollywood sign, which may not be as desirable as a full, unobstructed view.

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