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1322 5th Ave is a 6-unit multifamily property located in the heart of Mid-City Los Angeles. Built in 1925, the property spans approximately 3,922 square feet of building area on a 5,939-square-foot lot. The unit mix includes a blend of one studio, 1-bedroom, and 2-bedroom units, catering to strong renter demand in this well-established neighborhood. Ideally situated in Mid City"”a historic, centrally located neighborhood known for its tree-lined streets and architectural charm"”the property enjoys proximity to Koreatown, Mid-City, and Downtown LA. Residents benefit from nearby transit options and cultural landmarks, including the Metro B and D lines, major freeways (10, 110, and 101), LACMA, and Crypto.com Arena. The area's strong community feel, nearby parks, and transit connectivity make it highly attractive to families and professionals alike. Tenants are drawn to this property for its prime location and convenience. With a total of 3 tandem parking spots and fenced property with secure access. The easy access to a wide range of entertainment and dining options in nearby neighborhoods like Koreatown, Larchmont Village, Miracle Mile, and Downtown LA, residents are never far from the action. For investors, 1322 5th Ave offers significant upside. The property is currently master-metered with an approximate 45% expense ratio. However, based on the existing leases, 50% of the tenants are already responsible for paying their own utilities. With roughly 19% rental upside and full utility pass-through implemented, the proforma cap rate improves to approximately 9.46%. Another value-add opportunity would be converting the existing six-unit layout into four larger units through renovations. Overall, the asset presents a unique value-add opportunity for an investor looking to improve operations and increase long-term returns.
Property Type(s):
Commercial
| Last Updated | 3/13/2026 | Year Built | 1925 |
|---|---|---|---|
| Community | 699 - Not Defined | County | Los Angeles |
Additional Details
| AREA | 699 - Not Defined |
|---|---|
| LOT | 5937 sq ft |
| LOT DESCRIPTION | Level, Rectangular Lot |
| LOT DIMENSIONS | 5939 |
| STORIES | 2 |
| WATER | Public |
Location
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Listed with Justin White
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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