5912 Willoughby Avenue,Los Angeles, CA 90038
Los Angeles, CA 90038
Description
The subject property is a twelve-unit multifamily asset located at 5912 Willoughby Avenue in the heart of Hollywood. Built in 1979 and zoned LAR3, the asset is governed by California's AB 1482 statewide rent cap rather than the stricter Los Angeles RSO. The unit mix comprises (1) Studio / 1-Bath and (9) 1-Bedroom / 1-Bath units, plus two brand-new ADUs (a Studio and a 1-Bedroom), across 6,924 building SF on a 6,495 SF lot, of wood-frame and stucco construction with individually metered utilities and on-site parking. The building delivers strong in-place cash flow, and the two brand-new ADUs, now nearing completion, are positioned to capture top-of-market rents upon delivery. Positioned within one of Los Angeles' most dynamic and walkable submarkets, the property sits minutes from the region's largest employment base in media and entertainment, including Paramount Pictures, Netflix, and Sunset Bronson Studios, along with the Melrose Avenue dining and retail corridor and the boutiques of Larchmont Village. Everyday conveniences including Pavilions, Trader Joe's, and Erewhon are within easy reach, and the Metro B (Red) Line at Hollywood/Vine offers a direct rail link to Downtown Los Angeles and the San Fernando Valley. Built in 1979, the property is exempt from the Los Angeles RSO and instead falls under California's AB 1482 statewide rent cap, allowing annual rent increases of up to 5% plus CPI, a meaningfully higher rent-growth ceiling than a locally rent-controlled asset. Hollywood remains a supply-constrained, high-demand rental market, drawing durable tenant demand from the surrounding studios, creative offices, and entertainment workforce.
Details
| MLS # | 26864835 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1979 |
| Days On Site | 76 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Peter James |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 12 |
| SQ Feet | 6,924 |
| Story(s) | 2 |
| Units | 12 |
| Building(s) | 1 |
| Zoning | LAR3 |
| Acreage | 0.15 |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Microwave, Oven, Range, Refrigerator |
Exterior
| Roof | Rolled Hot Mop |
|---|---|
| Security Features | Security Gate, Gated Community |
| Construction Materials | Stucco |
| Lot Features | Rectangular Lot |
Parking
| Parking Features | Gated |
|---|
Utilities
| Sewer | Other |
|---|
Location
| Community Features | Gated |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $2,750,000 low | high Med: $1,975,000 sqft: 6,924 low | high Med: 3,874 $ / sqft: $397 low | high Med: $510 On site: 76 low | high Med: 149 | |
Market Activity 90038
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $2,750,000 low | high Med: $1,975,000 sqft: 6,924 low | high Med: 3,874 $ / sqft: $397 low | high Med: $510 On site: 76 low | high Med: 149 | |
