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    5724 La Mirada Ave Los Angeles, CA 90038

    View on Map
    Sponsored
    For Sale
    Under Contract
    $1,175,000

    MULTI_FAMILY - Los Angeles, CA

    Property size:
    3,284 SF
    Lot size:
    0.17 Acres
    Days on Market:
    8
    Last Refresh:
    Mar 23 at 6:06 pm

    Property Features for 5724 La Mirada Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Zoning
    LAR3
    Rooms
    Bathroom 5, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 3, Bathroom 4
    Bedrooms
    6
    Bathrooms
    5
    APN
    5536-005-018
    Parking
    3
    Parking features
    Driveway
    Size
    3,284 SF
    Lot size
    0.17 Acres

    Building Details

    Year built
    1912
    Floors in Building
    2
    Number of units
    5

    We can help!

    Listing Contact
    Nicole Apostolos

    Equity Union Real Estate

    Listing agent Nicole Apostolos License #01464936

    Listing date Mar 16, 2026

    MLS# 26647043

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Hollywood Multifamily Investment Opportunity

    Located in the heart of Hollywood, the property at 5724 La Mirada Avenue, built in 1912, features five units across two separate structures, totaling approximately 3,284 square feet of rentable living space on a 7,500 square foot lot. The zoning is LAR3. The front building is a one-story duplex with SFR style units, while the rear structure is a two-story triplex. The unit mix consists of four one-bed/one-bath units and one two-bed/one-bath unit. The property offers three on-site parking spaces, along with ample off-street parking. One 1+1 unit is currently vacant. Positioned within one of Los Angeles' most established and creative submarkets, the property benefits from close proximity to major post-production studios, media companies, and prominent employment centers. The surrounding area is defined by its strong lifestyle appeal, with convenient access to well-known dining and retail destinations such as Osteria La Buca, Ggiata Delicatessen, and Great White. Located less than half a mile from Echelon Studios Complex a project of 550,000 SF of new production studio, office, and retail space set to be completed this year. Its central location provides convenient connectivity to Hollywood, Koreatown, and Downtown Los Angeles and is rated "Very Walkable" with a Walk Score of 89.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.314574
    Latitude
    34.093475

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    FAQs

    What type of property is this?
    Apartment building - Five units in the heart of Hollywood with over 6.5% CAP!
    Where is this apartment building located?
    The property is located at 5724 La Mirada Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,175,000.
    What are key features of this property?
    This property features: - Over 6.5% CAP Rate; - Prime Hollywood location, close to major studios and employment centers; - LAR3 zoning on a 7,500 SF lot
    (818) 989-2000
    Request Owner's contact information
    5724 La Mirada Ave Los Angeles, CA 90038
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    Los Angeles, CA 90038
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5724 La Mirada Ave Los Angeles, CA 90038
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    We can help!
    Listing Contact
    Nicole Apostolos
    Real Estate License ID: 01464936
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