5435 Smiley Drive, Los Angeles, California 90016, Los Angeles, 90016 - bed, bath
ACTIVE$1,000,000
5435 Smiley Drive, Los Angeles, California 90016
0Bed
0Bath
1,873Sqft
4,807Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Triplex: The property is a triplex, offering multiple rental income streams and strong investment potential as a residential income property.
Top Cons:
Limited Property Access: The 'drive-by only, please do not disturb residents' instruction severely restricts buyer due diligence and physical inspection, potentially deterring serious offers.
Compared to the nearby listings
Price:$1.00M vs avg $1.00M (+$0)50%
Size:1,873 sqft vs avg 1,873 sqft50%
Price/sqft:$534 vs avg $45557%
More Insights
Built in 1921 (104 years old).
Condition: Despite being built in 1921, the property has undergone extensive recent renovations. The description states the middle unit is 'fully renovated' and the front and back units have 'updated kitchens, bathrooms, and flooring.' The images confirm these updates feature modern white shaker cabinets, stainless steel appliances, recessed lighting, contemporary tile, and new LVP flooring, all appearing virtually new and meeting current quality standards. The bathrooms also show modern vanities and large format tiling with glass shower enclosures. This level of recent, high-quality renovation brings the property's condition to an excellent standard, requiring no immediate work.
Year Built
1921
Close
-
List price
$1M
Original List price
$1M
Price/Sqft
$534
HOA
-
Days on market
-
Sold On
-
MLS number
PW24072586
Home ConditionExcellent
Features
Good View:
View-
About this home
5435 Smiley Dr is a triplex consisting of a 2BD/2BA/977sf front unit, a middle efficiency studio unit, and a back 2BD/1BA/671sf unit in the heart of trendy West Adams. Substantial upside in rents (pro-forma 7% cap) and zoned LARD1.5 in TOC tier 3 allowing for increased density and FAR bonuses, this property presents an exceptional opportunity for owner occupancy and promises to be a developer's dream. The middle unit has recently undergone full renovation and the front and back unit both have updated kitchens, bathrooms, flooring, and individual laundry. Front and back units are separately metered for electricity and gas. Drive-by only, please do not disturb residents.
Nearby schools
6/10
Marvin Elementary School
Public,•K-5•0.3mi
6/10
Baldwin Hills Elementary School
Public,•K-5•0.5mi
5/10
Cienega Elementary School
Public,•K-5•0.6mi
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•2.2mi
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•2.3mi
3/10
Daniel Webster Middle School
Public,•6-8•4.2mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•1.0mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•1.6mi
Price History
Date
Event
Price
11/26/97
Sold
$100,000
06/04/08
Sold
$370,000
01/11/05
Sold
$380,000
Condition Rating
Excellent
Despite being built in 1921, the property has undergone extensive recent renovations. The description states the middle unit is 'fully renovated' and the front and back units have 'updated kitchens, bathrooms, and flooring.' The images confirm these updates feature modern white shaker cabinets, stainless steel appliances, recessed lighting, contemporary tile, and new LVP flooring, all appearing virtually new and meeting current quality standards. The bathrooms also show modern vanities and large format tiling with glass shower enclosures. This level of recent, high-quality renovation brings the property's condition to an excellent standard, requiring no immediate work.
Pros & Cons
Pros
Income-Generating Triplex: The property is a triplex, offering multiple rental income streams and strong investment potential as a residential income property.
Prime Location: Located in the 'heart of trendy West Adams,' a highly desirable and appreciating neighborhood in Los Angeles.
Significant Development Potential: Zoned LARD1.5 in TOC tier 3, allowing for increased density and FAR bonuses, presenting a 'developer's dream' for future expansion or redevelopment.
Updated Units: Multiple units have undergone recent renovations, including updated kitchens, bathrooms, flooring, and individual laundry, reducing immediate capital expenditure for a new owner.
Substantial Rent Upside: The property offers substantial upside in rents with a pro-forma 7% cap rate, indicating significant potential for increased cash flow.
Cons
Limited Property Access: The 'drive-by only, please do not disturb residents' instruction severely restricts buyer due diligence and physical inspection, potentially deterring serious offers.
Age of Structure: Built in 1921, the property's underlying structure is old, which may imply potential for unforeseen or future maintenance issues despite recent unit renovations.
Efficiency Studio Unit: One of the three units is an 'efficiency studio,' which typically generates lower rental income compared to a standard studio or larger unit.