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5528 Franklin Ave, Los Angeles, CA 90028
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5528 Franklin Ave Los Angeles, CA 90028

$3,126,000 Sold Price as of 07/20/2021
  • 14 Beds
  • 12 Baths
  • 6,912 Sq.Ft.
Sold
$3,126,000 Sold Price as of 07/20/2021 Refinance Your Mortgage
Map preview of 5528 Franklin Ave, Los Angeles, CA 90028

Property Overview: 5528 Franklin Ave Los Angeles, CA has 14 bedrooms, 12 bathrooms, 6,912 living square feet and 9,500 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great income property located in Heart of Hollywood on the border of Los Feliz and Franklin Village. Remodeled 10 units, Consists of two side by side buildings, Two separate APN's,By far Area Lowest GRM of 13.6, Cap Rate 5.6, Gross income $233,388. Great Units mix of 7 X 2 bedroom 3 studios, Most units have front and rear access, private in unit laundry areas, and parking. Separately metered for gas and electric. Metro red line station one block away. Large 9,535 square foot lot with R3-1 zoning. 5520 & 5528 Franklin Ave APN 5544-004-021 & 5544-004-022 both included in the sale.

Listed by Eliza Kerndian | BRE #01398836 | Keller Williams Realty Westside
Last checked: 9 minutes ago | Last updated: May 5th, 2022 | Source CRMLS | DOM: 83

Home details

Lot Sq. Ft
9,500
HOA Dues
$0/mo
Year built
1921
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20551728
City
Los Angeles
County
Los Angeles
Time on Site
1186 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $997
  • Total Rent: $997
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,450
  • Total Rent: $1,450
  • Pro Forma/Market Rent: $1,450
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,299
  • Total Rent: $2,299
  • Pro Forma/Market Rent: $2,700
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $903
  • Total Rent: $903
  • Pro Forma/Market Rent: $2,700
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $2,700
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $2,700
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.6
  • Gross Scheduled Income: --
  • Net Operating Income: $181,388
  • Gross Operating Income: $233,388
Annual Expense Breakdown
  • Total Operating Expense: --
  • New Taxes: $34,000
  • Trash: $3,600
  • Insurance: $5,000

Property Details for 5528 Franklin Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Room Information
  • Flooring: Laminate, Tile
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 10
  • Parcel Number: 5544004021
  • Has Additional Parcels
Location / Neighborhood
Location Information
  • Directions: Hollywood on the border of Los Feliz and Franklin Village
View more facts & features

Local Los Angeles Agent

Sale History for 5528 Franklin Ave

Last sold for $3,126,000 on July 20th, 2021

  • July, 2021

  • Jul 20, 2021

    Date

    Sold

    CRMLS: 20551728

    $3,126,000

    Price

  • May 11, 2021

    Date

    Active Under Contract

    CRMLS: 20551728

    $3,195,000

    Price

  • Feb 17, 2021

    Date

    Active

    CRMLS: 20551728

    $3,195,000

    Price

  • February, 2020

  • Feb 24, 2020

    Date

    Leased

    CRMLS: 19502122

    $2,795

    Price

  • Jan 8, 2020

    Date

    Price Change

    CRMLS: 19502122

    $2,495

    Price

  • Oct 29, 2019

    Date

    Price Change

    CRMLS: 19502122

    $2,595

    Price

  • Aug 22, 2019

    Date

    Price Change

    CRMLS: 19502122

    $2,695

    Price

  • Aug 22, 2019

    Date

    Price Change

    CRMLS: 19502122

    $2,895

    Price

  • Aug 21, 2019

    Date

    Active

    CRMLS: 19502122

    $2,795

    Price

  • Listing provided courtesy of CRMLS

    MOVE-IN SPECIAL: TWO WEEKS FREE! A fully renovated 2 bed, 1.5 bath apartment in the heart of Hollywood is now available! This unit has been wonderfully renovated and includes stainless steel appliances (range/oven, dishwasher and refrigerator), washer and dryer in unit, AC/heat, and it includes two parking spots (tandem style). Pets considered on a case-by-case basis. Owner pays water. Walking distance to Franklin Village (La Poubelle, Birds, Bourgeois Pig, Upright Citizens Brigade, The Oaks Gourmet), The Metro, Harvard & Stone, Griffith Park, and much more. Come and see it today!

  • June, 2019

  • Jun 16, 2019

    Date

    Expired

    CRMLS: 19466894

    $1,650

    Price

  • May 16, 2019

    Date

    Active

    CRMLS: 19466894

    $1,650

    Price

  • Listing provided courtesy of CRMLS

    Bachelor unit the heart of Hollywood is now available, utilities included, Walking distance to Observatory, Franklin Village (La Poubelle, Birds, Bourgeois Pig, Upright Citizens Brigade, The Oaks Gourmet), The Metro, Downtown LA, Harvard & Stone, Griffith Park, and much more. This unit has lots of natural light, Pets considered on a case-by-case basis. Owner pays water. Come and see it today!

  • November, 2018

  • Nov 11, 2018

    Date

    Expired

    CRMLS: 18394868

    $2,995,000

    Price

  • Oct 10, 2018

    Date

    Active

    CRMLS: 18394868

    $2,995,000

    Price

  • Listing provided courtesy of CRMLS

    5520 & 5528 Franklin Ave in Los Angeles, this 10-unit multifamily offering Two separate Building with two individual APN numbers, Great opportunity for a Developer or an investor to add value and choose their own tenants and rent amount, property will be delivered with 7 vacant units and 3 occupied units, RTI to convert 4 of the units to 2 bedroom, 5520 has six units 4 apartment plus 2 Guest rooms which will have two Apartment vacant and one Guest room Vacant, 5528 Franklin Is 4plex and entirely Vacant. The property is close by to Franklin Village Restaurant and shops, multiple huge new Developments close by such as Valero Gas station on corner of Western and Franklin turning to Brand new 89 units plus commercial, High demand area, close to Metro line and 101 Free way, With a pro forma 12.7 cap rate of 5.4 %, this asset offers a unique opportunity to re position and capture a significant upside in rents. Total Sqft of the building 6912 Sqft & lot Size 9535 Zone R3 Tier 3.

  • April, 2007

  • Apr 6, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • March, 2007

  • Mar 1, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5528 Franklin Ave

Assessed Value (2020): $1,192,808
Year Land Value Improved Value Assessed Value
2020 $848,966 $343,842 $1,192,808

Home Value Compared to the Market

This property vs the competition

5528 Franklin Ave sold on July 20, 2021 for 168.49% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $462.24 per/sqft which puts the price per square foot 38.78% lower than the current median sale per square foot for the city of Los Angeles.

About 5528 Franklin Ave

Detailed summary of property

5528 Franklin Ave is a multi family that recently sold in Los Angeles, CA 90028. This multi family property offered 14 bedrooms, 12 bathrooms, roughly 6,912 living square feet, and sits on an approximately 9,500 square foot lot. 5528 Franklin Ave was first listed on ArdentRealEstateGroup.com on February 17, 2021. The homeowner sold the property for $3,126,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 168.49% higher than the current median priced home. Local homes that are currently for sale include 803 N Kingsley Dr, 4412 Finley Ave and 639 N Alexandria Ave. While the average home in Los Angeles, CA is selling in 92 days, 5528 Franklin Ave has a days on market of 83 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 5528 Franklin Ave Los Angeles, CA 90028 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5528 Franklin Ave

Public county record property details
Beds
4
Baths
8
Year built
1921
Sq. Ft.
3,456
Lot Size
4,749
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
34
APN
5544-004-021

The source for these homes facts are from public records.

90028 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,195,000
Median List Price/Sq.Ft.
$690
Median Sold Price
$752,000
Median Sold Price/Sq.Ft.
$470
Total Inventory
36
Median Sale to List Price %
83.65%
Avg Days on Market
197
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (100%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

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-- Beds
-- Baths
-- Sq.Ft.
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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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