5459 Carlin Street, Los Angeles, California 90016, Los Angeles, 90016 - 0 bed, 0 bath
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Los Angeles, California 90016
This High-Yield Multifamily Asset is listed at $1,498,000, representing a stable entry point near its $1,453,850 Fair Market Value. Boasting a Good Condition Rating, the property features two units fully renovated in 2024, providing an immediate 27% rental upside and a projected 6.45% Cap Rate at market rents. Residents benefit from a City Lights view, private patios, and proximity to Marvin Elementary School and Alexander Hamilton Senior High School. Strategically located near Silicon Beach and Culver City, this value-add opportunity is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-demand "house hack" in West Adams.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5459 Carlin Street Subject | $1,498,000* List Price | 0 | 0 | 2,508 | $580 | - |
A 5335 Carlin Active | $1,395,000 List Price | 8 | 4 | 2,590 | $539 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property, built in 1957, has undergone significant recent upgrades. Two of the four units were fully renovated in 2024, featuring brand new kitchens with modern white cabinets, grey subway tile backsplash, stainless steel appliances, and quartz countertops. The bathrooms in these units are also new with modern vanities and subway tile showers. New laminate flooring, mini-split AC units, and recessed lighting are present in the renovated units. The exterior has also been repainted and updated. While two units are in excellent, virtually new condition, the remaining two units are unrenovated, and the property's age suggests potential for older systems in those units. Therefore, the overall condition is 'Good', reflecting a blend of newly renovated spaces and older, but presumably functional, components.
Offers a significant 27% rental upside with a potential 6.45% cap rate at market rents, indicating strong future profitability and value appreciation.
Two units were fully renovated in 2024, including new interiors (windows, doors, laminate floors, mini-split AC, full kitchen remodels with new appliances) and comprehensive exterior improvements (repaint, landscaping, fencing, private patio).
Situated in the highly desirable West Adams neighborhood, driving strong tenant demand due to its proximity to major employment centers (Culver City, Silicon Beach, LAX) and excellent freeway access.
Only two of the four units have been renovated, suggesting the remaining two units may require significant capital investment to maximize rental income and tenant appeal.
The property currently operates at a 4.28% cap rate, which is considerably lower than the projected 6.45% at market rents, indicating underperformance until all units are optimized.
Built in 1957, the property's age suggests potential for older systems or deferred maintenance in the unrenovated units or common areas, which could lead to unexpected future costs.
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 1 current vacancy, this presents a rare opportunity for immediate income growth. With a 27% rental upside, the property has the potential to produce $10,600 per month ($127,200 annually) at market rents, achieving a cap rate of 6.45%. Currently, it operates at a 4.28% cap rate and a GRM of 13.7. 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.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,508 | 3,610 | 50% |
| Lot Size | 4,784 | 6,170 | 13% |
| Price | $1.50M | $1.30M | 50% |
| Price per sq ft | $597 | $441 | 75% |
| Built year | 1957 | 1951 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 93 | 156 | 13% |
Jan 19, 2026
$1,498,000
Initial Listing
Apr 1, 2021
$1,082,000
Public Record
Jan 2, 2020
$1,045,000
Public Record
May 16, 2014
$525,000
Public Record
Jun 20, 2013
$500,000
Public Record
Feb 24, 2010
$357,000
Public Record