5942 Carlton Way Los Angeles, CA 90028 Price Dropped by $111K

UPDATED: 10/17/2026 04:31 PM ON MARKET: 72 days on market

$1,284,000

4 Beds4 Baths3,030 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,030 sqft

Price per Sqft $423

MLS Listing ID 26871829

Style Spanish

Bedrooms 4

Year Built 1923

Lot Size 2,842 Sqft

Acres 0.0652

Property Sub-Type Multi-Family

Property Description

Exceptional investment opportunity in the heart of Hollywood! Built in 1923, this classic Spanish-style fourplex offers timeless character, immediate rental upside, and strong long-term investment potential. Situated on a low-maintenance corner LAR4-zoned lot, the property features four spacious one-bedroom, one-bathroom units totaling approximately 3,020 square feet (approximately 755 square feet per unit; buyer to verify). Each residence enjoys its own private entrance and is separately metered for gas and electricity, providing efficient property management and reduced owner expenses.A rare feature in today's market, two of the four units will be delivered vacant (upstairs and downstairs on the west side of the building), allowing the next owner to immediately lease at current market rents or select their own tenants. Both vacant units have been freshly painted and are move-in ready, creating an ideal opportunity to increase cash flow from day one. The remaining two units are occupied by long-term tenants, providing stable in-place income while offering future rental upside.The property's low-maintenance design, with no on-site parking or landscaping, helps minimize ongoing operating expenses. Pro forma financials are available upon request, highlighting the property's attractive investment potential and projected returns.Ideally located just minutes from Hollywood Boulevard, Sunset Boulevard, Netflix, Paramount Studios, shopping, restaurants, entertainment, and Metro transit, the property benefits from one of Los Angeles' strongest rental markets with consistently high tenant demand.An outstanding opportunity for investors, 1031 exchange buyers, or those looking to expand their multifamily portfolio with a classic Hollywood asset offering immediate upside, stable income, and exceptional long-term appreciation potential.

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Based on information from the Association of REALTORS®/Multiple Listing as of 10/23/2026 20:00. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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