5826 Carlton Way, Los Angeles, CA 90028
Local realty services provided by:ERA Excel Realty
5826 Carlton Way,Los Angeles, CA 90028
$8,550,000
- - Beds
- - Baths
- 20,700 sq. ft.
- Multi-family
- Active
Listed by: shaya braverman
Office: keller williams beverly hills
MLS#:25541819
Source:CRMLS
Price summary
- Price:$8,550,000
- Price per sq. ft.:$413.04
About this home
5826 Carlton Way presents a rare opportunity to acquire a historically significant multifamily asset in the heart of Hollywood. Built in 1924 by Paramount Pictures to house its actors during the Golden Age of cinema, this character-rich property known today as Carlton Canyon Apartments offers a blend of classic architecture and modern living amenities. Offered as a portfolio sale at $8,550,000, the package includes the 36-unit + 2 ADU's apartment building priced at $7,750,000, and a separately parceled 4,468 SF parking lot across the street listed at $800,000. Zoned Q R4-1VL, Tier 3 TOC, the lot presents a compelling development opportunity. While a high-density build of ~20 units is feasible, a more straightforward approach could be a 3-story multifamily structure with fewer units. The two parcels are described under separate APNs with no covenant tying them together, allowing a buyer to sell them individually if desired. Some tenants have parking as a lease provision, while others hold it under addenda, creating flexibility for future parking income or redevelopment plans. The building is operating at a 3.76% cap rate based on current income, with a market upside to 7.28%. and a low $225K per door. The unit mix consists of 1 bachelor, 35 studios, and 2 newly built ADUs. Approximately 25 units have been remodeled, 75% of tenants are on RUBS, and the property features new copper wiring, sporadic copper plumbing, and landlord-owned basement laundry for additional income.
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Home facts
- Year built:1924
- Listing ID #:25541819
- Added:177 day(s) ago
- Updated:November 15, 2025 at 03:20 PM
Rooms and interior
- Living area:20,700 sq. ft.
Heating and cooling
- Heating:Wall Furnace
Structure and exterior
- Year built:1924
- Building area:20,700 sq. ft.
- Lot area:0.38 Acres
Finances and disclosures
- Price:$8,550,000
- Price per sq. ft.:$413.04
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