5511 Smiley DR Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90016
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,670 sqft
Price per Sqft $255
MLS Listing ID 25557631
Bedrooms 11
Year Built 1964
Lot Size 7,196 Sqft
Property Description
5511 Smiley Drive is a 7-unit apartment building situated in the heart of the burgeoning West Adams neighborhood. A savvy investor will have the opportunity to increase the building's value by exploiting its huge rental upside (approximately 66%), by way of future tenant turnover and capital improvements. The property's diverse unit mix consists of one 2+2, three 2+1's, and three 1+1's. Numerous upgrades such as security camera installation, vinyl windows, a newer roof, and exterior paint have been made for lower maintenance ownership. There is ample tenant parking, owned communal laundry machines, and a storage room that could be rented or retained for the owner's use. Lastly, the 7,200 square foot lot is 50% larger than the standard 4,800 square foot lot for the area. Superbly located just steps away from the heart of the West Adams commercial corridor, 5511 Smiley Drive provides residents with many of the great things LA has to offer right outside their front door. The property features a stellar 83 walk score and is central to major employment, freeways, and points of interest alike. Tenants with children have numerous nearby parks and schools to choose from, including Westside Neighborhood Park, Marvin Avenue Elementary, and Hamilton High School. Public transit is also easily accessible at the La Cienega/Jefferson Metro station at just 0.7 miles away. With 5511 Smiley, investors can hedge against inflation, leverage tax advantages, and add more value.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD2
Interior
Flooring Carpet,Laminate,Tile
Fireplaces Type None
Laundry Common Area,Laundry Room
Exterior
Parking Features Assigned,Carport,Garage,Side By Side,Tandem
Pool None
View Y/N Yes
View City Lights
Roof Type Composition
Building
Story 2
Foundation Slab
Sewer Other
New Construction No
Others
Special Listing Condition Standard