5826 Carlton, Los Angeles CA 90028 | $8,550,000

  • 0 bedrooms
  • 0 bathrooms
  • 0 Sq Ft
  • 16730 Lot Sq Ft
  • Type:
  • Stories: 3
  • Year Built: 1924
  • MLS#: 25541819
  • Community: C20 - Hollywood

Listing provided courtesy of Shaya Braverman of Keller Williams Beverly Hills. Last updated 2025-11-04 09:11:39.000000. Listing information © 2025 SANDICOR.

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.

More Details

0.38 Acres
3 Stories

David Piper

Call or Text: 858-525-5007

DRE# 02021985