Los Angeles, CA 90028,5535 Carlton WAY
Los Angeles, CA 90028,5535 Carlton WAY
Los Angeles, CA 90028,5535 Carlton WAY
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$8,775,000
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0.39 Acres Lot
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5535 Carlton WAY Los Angeles, CA 90028

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Teresa Corpus

Teresa Corpus

+1(619) 250-4558

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25604529

HOA Y/N No

Year Built 1965

Tax Year 2025

Lot Size 0.395 Acres

Property Description

CALL FOR OFFERS | ALL OFFERS DUE OCTOBER 30, 2025 | Please Contact Listing Team for a Property Tour Kidder Mathews, as exclusive agent, is pleased to present The Carlton Apartments, a 36-unit modernized apartment community in the heart of Hollywood's studio district. The Carlton Apartments is a substantially renovated 36-unit apartment community consisting of 1 studio, 32 spacious One Bedroom/One Bath units, and 3 Two Bedroom/One Bath units. The property features an updated facade, refreshed common areas, large private gym, and furnished back patio delivering exceptional curb appeal and an elevated living experience. Residents also benefit from contemporary interior upgrades in select units, a beautifully landscaped central courtyard, and abundant 34 parking spaces in a gated subterranean garage with elevator access to all floors. The property presents the opportunity to acquire a prominently located and renovated Hollywood asset, with an attractive going-in cap rate of 6.53% and a low GRM of 9.61.There remains notable upside approximately 16% in rental income achievable through strategic unit turnover and renovation. Hollywood has undergone a major development boom in recent years, bringing new energy and investment to the neighborhood. While this surge initially pressured rents, most new deliveries have now been absorbed. Today, the pipeline is supply-constrained: only one major project is slated to deliver through Q3 2027, and construction starts within a one-mile radius have effectively stalled just 42 units in 2024 and zero year-to-date in 2025, compared to a 10-year average of 479 units annually. This sharp slowdown combined with strong renter demand, positions The Carton Apartments for meaningful near-term rent growth. Strategically situated less than a block away from the Hollywood/Western Metro station and only a 10-minute walk to Netflix, the subject property offers exceptional accessibility in Hollywood's vibrant studio district. Residents benefit from close proximity to major entertainment industry employers including Paramount Studios, Sunset Gower Studios, Viacom, and Technicolor. The neighborhood's appeal is further enhanced by an abundance of trendy restaurants, popular cafes, grocery stores, and vibrant nightlife options. With an impressive Walk Score in the 90s, the property provides residents with an ideal balance of urban convenience and lifestyle amenities, ensuring continued desirability among young professionals and families alike.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR4

Interior

Heating Wall Furnace

Fireplace No

Laundry Common Area

Exterior

Community Features Gated

Utilities Available Electricity Available, Natural Gas Available

Roof Type Composition

Total Parking Spaces 34

Building

Story 3

Water Public

Others

Tax ID 5544025028

Security Features Gated Community

Special Listing Condition Standard

CRMLS – RECore
Listed by Darin Beebower Kidder Mathews of California, Inc.

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES
Elementary Schools 20
  • 10

    Valley View Elementary

    Public | KG - 5

  • 10

    Ivanhoe Elementary

    Public | KG - 5

  • 9

    Citizens of the World Charter

    Public | KG - 8

  • 8

    Melrose Avenue Elementary School

    Public | KG - 6

  • 8

    3rd Street Elementary School

    Public | KG - 5

  • 8

    Larchmont Charter

    Public | KG - 12

  • 8

    Los Feliz STEMM Magnet School

    Public | KG - 6

  • 8

    Hoover Street Elementary

    Public | KG - 5

  • 8

    Franklin Avenue Elementary

    Public | KG - 5

  • 7

    Gardner Street Elementary

    Public | PK - 5

  • 7

    Cheremoya Avenue School

    Public | PK - 6

  • 7

    Hollywood Primary Center

    Public | KG - 3

  • 7

    Dr. Sammy Lee Medical and Health Science Magnet

    Public | KG - 5

  • 6

    Wilshire Park Elementary

    Public | KG - 5

  • 6

    Van Ness Avenue Elementary

    Public | KG - 5

  • 6

    Kim Elementary School

    Public | KG - 5

  • 6

    Cahuenga Elementary School

    Public | KG - 5

  • 6

    Micheltorena Elementary

    Public | KG - 5

  • 5

    Wilton Place Elementary

    Public | KG - 5

  • 5

    Santa Monica Boulevard Community Charter

    Public | KG - 6

Middle Schools 19
  • 8

    Rise Kohyang Middle School

    Public | 6 - 8

  • 6

    John Burroughs Middle School

    Public | 6 - 8

  • 6

    Virgil Middle School

    Public | 6 - 8

  • 6

    Thomas Starr King Middle School

    Public | 6 - 8

  • 4

    Magnolia Science Academy 5

    Public | 6 - 12

  • 4

    Bancroft Middle School

    Public | 6 - 8

  • 4

    Joseph Le Conte Middle School

    Public | 6 - 8

  • 4

    RFK Community Schools - Ambassador School of Global Leadership

    Public | 6 - 12

  • 4

    Los Angeles Academy of Arts & Enterprise Charter

    Public | 6 - 12

  • 4

    Vista Charter Middle School

    Public | 6 - 8

  • 1

    Apex Academy

    Public | 7 - 12

  • 1

    Young Oak Kim Academy

    Public | 6 - 8

  • 0

    Aviva High School

    Private | 7 - 12

  • 0

    The Episcopal School of los Angeles

    Private | 6 - 9

  • 0

    Marlborough School

    Private | 7 - 12

  • 0

    Richard A. Alonzo Community Day

    Public | 7 - 12

  • 0

    Immaculate Heart High School & Middle School

    Private | 6 - 12

  • 0

    Harold Mcalister High (Opportunity)

    Public | 6 - 12

  • 0

    Dream Center Academy

    Private | 6 - 12

High Schools 18
  • 8

    John Marshall High School

    Public | 9 - 12

  • 7

    Math and Science College Preparatory

    Public | 9 - 12

  • 7

    STEM Academy of Hollywood

    Public | 9 - 12

  • 7

    Central City Value

    Public | 9 - 12

  • 7

    Camino Nuevo High No. 2

    Public | 9 - 12

  • 5

    Hollywood High School

    Public | 9 - 12

  • 4

    RFK Community Schools - Los Angeles High School of the Arts

    Public | 9 - 12

  • 3

    Los Angeles High School

    Public | 9 - 12

  • 1

    Helen Bernstein High School

    Public | 9 - 12

  • 1

    RFK Community Schools - School for the Visual Arts & Humanities

    Public | 9 - 12

  • 0

    Bais Yaakov School for Girls

    Private | 9 - 12

  • 0

    Yeshiva Gedolah of los Angeles

    Private | 9 - 12

  • 0

    Yeshiva Ohr Elchonon Chabad - West Coast

    Private | 9 - 12

  • 0

    Bnos Devorah High School

    Private | 9 - 11

  • 0

    Canyon Oaks School

    Private | 10 - 12

  • 0

    Soledad Enrichment Action Charter High School

    Public | 9 - 12

  • 0

    East Beverly High School

    Private | 9 - 12

  • 0

    New Village Girls Academy

    Public | 9 - 12

School and business data provided by Attom Data.

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Teresa Corpus

Teresa Corpus

Agent | License ID: 01425899

+1(619) 250-4558

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