5418 Franklin AVE Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90027
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 6,556 sqft
Price per Sqft $285
MLS Listing ID 25589823
Bedrooms 10
HOA Y/N No
Year Built 1923
Lot Size 10,593 Sqft
Property Description
This prime Los Feliz property, located adjacent to Hollywood Hills, offers a strong unit mix of two massive, townhouse-style three-bedroom units and four one-bedroom units. Three units will be delivered vacant, presenting immediate value-add or redevelopment potential. The front duplex features new electrical, plumbing, and roof, while the rear fourplex also has a new roof and updated plumbing. Situated on a large 10,590 SF lot with Tier 3 TOC incentives, the property includes one garage and six open parking spaces ideal for potential ADU conversion under SB1211. With eligibility for redevelopment through the CHIP Ordinance to build 50+ units or 70+ units through ED1, the land is very well priced at $177.05 per square foot. This is a rare opportunity for both short-term cash flow and long-term development upside in one of LA's most desirable neighborhoods. With three units delivered vacant and a large LAR3 lot with Tier 3 TOC incentives, this property offers immediate income potential alongside exceptional redevelopment opportunities through CHIP, ED1, or ADU conversion in a prime Los Feliz location.
Location
State CA
County Los Angeles
Area 637 - Los Feliz
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Garage,Tandem
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5544006029
Special Listing Condition Standard