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5459 Carlin Street, Los Angeles, California 90016, Los Angeles, 90016 - bed, bath

5459 Carlin Street, Los Angeles, California 90016 home-pic-0
ACTIVE$1,575,000
5459 Carlin Street, Los Angeles, California 90016
0Bed
0Bath
2,508Sqft
4,784Lot
Year Built
1957
Close
-
List price
$1.57M
Original List price
$1.59M
Price/Sqft
$628
HOA
-
Days on market
-
Sold On
-
MLS number
OC25094955
Home ConditionGood
Features
Good View: City Lights
Patio
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $1.57M(57th), sqft - 2508(50th), beds - undefined(50th), baths - undefined(50th).

Located at 5459 Carlin in the highly desirable West Adams neighborhood, this multifamily property offers a prime investment opportunity with significant upside potential. The property features a total of 4 units, including 2 newly renovated 2-bedroom/1-bathroom vacant units completed in 2024, enhancing its modern appeal. The renovated units include new windows and doors, new laminate floors, new mini split air conditioners, as well as full kitchen remodels with included brand new appliances. The exterior of the property has been renovated featuring a new private patio for the front vacant unit, a full repaint, custom landscaping, as well as new fencing and sliding gate. The remaining units are also 2 two-bedroom/one-bathroom units, with a total rentable square footage of 2,508 on a 4,829-square-foot lot. With 2 current vacancies, this presents a rare opportunity for immediate income growth. With a 22% rental upside, the property has the potential to produce $11,000 per month ($132,000 annually) at market rents, achieving a cap rate of 6.45%. Currently, it operates at a 4.52% cap rate and a GRM of 12.08. The property includes one dedicated parking space per each unit, ensuring convenience for tenants in an area where parking is a premium. Its prime location near Santa Monica, Culver City, LAX, Playa Vista, Silicon Beach, and the 10 Freeway drives strong tenant demand, offering easy access to major employment centers and lifestyle destinations. The property benefits from steady current cash flow, two immediate lease-up opportunities, and significant rental upside in a highly sought-after area.

Nearby schools

6/10
Marvin Elementary School
Public,•K-5•0.2mi
5/10
Cienega Elementary School
Public,•K-5•0.5mi
6/10
Baldwin Hills Elementary School
Public,•K-5•0.7mi
5/10
Virginia Road Elementary School
Public,•K-5•1.3mi
4/10
Alta Loma Elementary School
Public,•K-5•1.6mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.3mi
3/10
Arlington Heights Elementary School
Public,•K-5•2.3mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.2mi
2/10
Audubon Middle School
Public,•6-8•2.4mi
3/10
Daniel Webster Middle School
Public,•6-8•4.2mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•1.1mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•1.6mi

Price History

Date
Event
Price
08/12/25
Price Change
$1,575,000
04/30/25
Listing
$1,595,000
04/01/21
Sold
$1,082,000
01/02/20
Sold
$1,045,000
05/16/14
Sold
$525,000
06/20/13
Sold
$500,000
02/24/10
Sold
$357,000
Condition Rating
Good
Built in 1957, this quadruplex has undergone significant partial renovations in 2024. Two of the four units have been extensively updated with new laminate flooring, fresh paint, modern kitchens featuring white shaker cabinets, subway tile backsplash, stainless steel appliances (refrigerator, gas range, dishwasher, hood), and updated bathrooms with subway tile and modern vanities. These units also boast new windows, doors, and mini-split air conditioning systems. The exterior has also been repainted with new fencing and landscaping. While these two units and the exterior are in excellent, virtually new condition, the remaining two units have not been renovated. This partial renovation, combined with the older underlying structure, prevents an 'Excellent' score, but the substantial updates to half the property and its curb appeal elevate it beyond 'Fair', making it a 'Good' overall condition.
Pros & Cons

Pros

Significant Value-Add Opportunity: With two newly renovated and vacant units, the property offers immediate lease-up potential at market rents, projecting a 22% rental upside and a strong 6.45% cap rate.
Extensive Modern Renovations: Two units underwent comprehensive renovations in 2024, including new windows, flooring, mini-split AC, and full kitchen remodels, significantly enhancing tenant appeal and reducing immediate capital expenditure.
Prime & Desirable Location: Situated in the highly sought-after West Adams neighborhood, offering excellent access to major employment centers (Santa Monica, Culver City, Silicon Beach) and the 10 Freeway, ensuring strong tenant demand.
Dedicated Tenant Parking: The provision of one dedicated parking space per unit is a substantial amenity in a dense urban market like Los Angeles, adding significant value for tenants.
Stable Multifamily Asset: As a quadruplex, the property provides diversified income streams and a proven investment vehicle in a robust Los Angeles market, offering steady cash flow.

Cons

Partial Unit Renovation: Only two of the four units have been fully renovated, implying the remaining two units may require future capital investment to match the modern standards and maximize rental income across the entire property.
Older Property Foundation: Built in 1957, the property's age suggests potential for ongoing maintenance or future system replacements (e.g., plumbing, electrical, roof) that were not explicitly covered in the recent unit-specific renovations.
Realizing Full Potential Requires Action: The attractive 6.45% cap rate is a potential based on market rents and filling vacancies; the current operating cap rate of 4.52% means an investor must actively execute lease-ups and rent adjustments to achieve the advertised upside.

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