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5511 Smiley Dr, Los Angeles, CA 90016
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5511 Smiley Dr Los Angeles, CA 90016

$1,795,000
  • 11 Beds
  • 8 Baths
  • 5,670 Sq.Ft.
For Sale
$1,795,000 Get Pre-Qualified
Map preview of 5511 Smiley Dr, Los Angeles, CA 90016

Property Overview: 5511 Smiley Dr Los Angeles, CA has 11 bedrooms, 8 bathrooms, 5,670 living square feet and 7,198 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 5511 Smiley Drive is a 7-unit apartment building situated in the heart of the burgeoning West Adams neighborhood. The property's diverse unit mix consists of one 2+2, three 2+1's, and three 1+1's. The building has had numerous upgrades such as security camera installation, vinyl windows, and a newer roof and exterior paint. There is ample tenant parking as well as 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, Argo Navis Middle School, and Hamilton High School. Public transit is easily accessible at the La Cienega/Jefferson Metro station 0.7 miles away. With 5511 Smiley, you can hedge against inflation, exploit tax advantages, and add more value.

Listed by Jordan Peikin | BRE #02015987 | Jordan Peikin
Last checked: 4 minutes ago | Last updated: May 3rd, 2024 | Source CRMLS | DOM: 16
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Home details

Lot Sq. Ft
7,198
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24378945
City
Los Angeles
County
Los Angeles
Time on Site
28 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,895
  • Total Rent: $1,895
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $908
  • Total Rent: $908
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,400
  • Total Rent: $2,400
  • Pro Forma/Market Rent: $2,595
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,201
  • Total Rent: $1,201
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $907
  • Total Rent: $907
  • Pro Forma/Market Rent: $2,595
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,304
  • Total Rent: $1,304
  • Pro Forma/Market Rent: $2,595
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,147
  • Total Rent: $1,147
  • Pro Forma/Market Rent: $2,795
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.8%
  • Gross Rent Multiplier: 15.32
  • Gross Scheduled Income: --
  • Net Operating Income: $68,768
  • Gross Operating Income: $113,881
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 5511 Smiley Dr

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Property Details for 5511 Smiley Dr

Interior Features
Cooling Information
  • No Cooling
  • None
Laundry Information
  • Has Laundry
  • Community, Individual Room
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Laminate, Tile
Kitchen Information
  • Has Appliances
  • Disposal, Microwave, Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Two
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Composition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Assigned, Tandem Garage, Side by Side, Carport
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 7
  • Parcel Number: 5048024026
  • Property Condition: Repairs Major, Repairs Cosmetic, Updated/Remodeled, Fixer
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Other
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: On Smiley and Hauser between Adams and Jefferson.
View more facts & features

Local Los Angeles Agent

Sale History for 5511 Smiley Dr

Last sold for $1,325,000 on December 5th, 2016

  • April, 2024

  • Apr 10, 2024

    Date

    Active

    CRMLS: 24378945

    $1,795,000

    Price

  • December, 2023

  • Dec 22, 2023

    Date

    Canceled

    CRMLS: 23282503

    $1,900,000

    Price

  • Jun 20, 2023

    Date

    Active

    CRMLS: 23282503

    $1,900,000

    Price

  • Listing provided courtesy of CRMLS

    5511 Smiley Drive is a 7-unit apartment building situated in the heart of the burgeoning West Adams neighborhood. The property's diverse unit mix consists of one 2+2, three 2+1's, and three 1+1's. The building has had numerous upgrades such as security camera installation, vinyl windows, and a newer roof and exterior paint. There is ample tenant parking as well as owned communal laundry machines and a storage room that could be rented or retained for the owner's use. The property's 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, Argo Navis Middle School, and Hamilton High School. Public transit is easily accessible at the La Cienega/Jefferson Metro station 0.7 miles away. This is an excellent opportunity to acquire an investment property with steady and reliable cash flow with additional future upside both in rent and neighborhood appreciation.

  • December, 2016

  • Dec 6, 2016

    Date

    Sold

    CRMLS: 16114256

    $1,325,000

    Price

  • Oct 11, 2016

    Date

    Active Under Contract

    CRMLS: 16114256

    $1,350,000

    Price

  • Sep 2, 2016

    Date

    Price Change

    CRMLS: 16114256

    $1,350,000

    Price

  • Jul 19, 2016

    Date

    Price Change

    CRMLS: 16114256

    $1,395,000

    Price

  • Jun 3, 2016

    Date

    Price Change

    CRMLS: 16114256

    $1,450,000

    Price

  • Apr 11, 2016

    Date

    Price Change

    CRMLS: 16114256

    $1,520,000

    Price

  • Listing provided courtesy of CRMLS

    Subject property is located on a charming street. Partially rehabbed 7 unit two story building in the West Adams District. All units are tenant occupied. Property has new paint, partial upgraded copper plumbing, and some upgraded windows. 7 off street parking spaces. Income producing laundry room. Great upside potential. Subject to Los Angeles Rent Control. Close to the freeways and houses of worship. Walking distance to La Cienega and Jefferson Expo Line where there is going to be a supermarket and shopping center approved for construction. For art lovers, Gallery 38 is opening this year nearby. Near Crenshaw Mall and Kaiser Permanente Hospital. Gentrified neighborhood, great appreciation for future land value. Near Culver City Art District.

  • December, 2016

  • Dec 5, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,325,000

    Price

  • July, 2013

  • Jul 22, 2013

    Date

    Sold (Public Records)

    Public Records

    $830,008

    Price

Show More

Tax History for 5511 Smiley Dr

Assessed Value (2020): $1,406,100
Year Land Value Improved Value Assessed Value
2020 $848,966 $557,134 $1,406,100

Home Value Compared to the Market

This property vs the competition

5511 Smiley Dr is listed 45.34% higher than the median list price for the city of Los Angeles which has a median list price of $1,235,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $316.58 per/sqft which puts the price per square foot 59.1% lower than the median price per square foot for the city of Los Angeles.

About 5511 Smiley Dr

Detailed summary of property

5511 Smiley Dr is a multi family located in Los Angeles, CA 90016 and is currently for sale. This multi family property offers 11 bedrooms, 8 bathrooms, roughly 5,670 living square feet, and sits on an approximately 7,198 square foot lot. 5511 Smiley Dr was first listed on ArdentRealEstateGroup.com on April 11, 2024. The homeowner is currently asking $1,795,000. The median priced home in Los Angeles is $1,235,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 45.34% higher than the median priced home. Local competing homes currently for sale include 1831 S Redondo Blvd, 8664 Cadillac Ave and 1724 S Crescent Heights Blvd. While the average home in Los Angeles, CA is selling in 94 days, 5511 Smiley Dr has a days on market of 16 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 5511 Smiley Dr Los Angeles, CA 90016 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5511 Smiley Dr

Public county record property details
Beds
11
Baths
8
Year built
--
Sq. Ft.
5,670
Lot Size
7,196
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
223,224
APN
5048-024-026

The source for these homes facts are from public records.

90016 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,099,000
Median List Price/Sq.Ft.
$774
Median Sold Price
$885,000
Median Sold Price/Sq.Ft.
$699
Total Inventory
75
Median Sale to List Price %
98.44%
Avg Days on Market
30
Loan Type
Conventional (21.05%), FHA (0%), VA (0%), Cash (10.53%), Other (10.53%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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