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SOLD 6/23/2021

5424 Smiley Drive, Los Angeles, CA 90016$2,075,000

10
beds
11
baths
4600
ft2
· 4801
ft2 lot
$456 / ft2

Listing provided courtesy of Listing Broker: XIO SANDOVAL, CENTURY 21 REALTY MASTERS
Source CRMLS;
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Welcome to 5424 Smiley Dr: **1 UNIT IS NOW RENTED-SIGNED LEASE IN PLACE FOR $4,750.00* PLUS UNIT #2 (3 BDR 3 BATH) IS NOW LEASED-SIGNED LEASE IN PLACE FOR $3,500.00 You won't find a better condo living alternative than this Contemporary 3 Unit NEW CONSTRUCTION property built in 2020 consisting of 3-story Units situated in one of the most exciting neighborhoods: MID CITY-WEST ADAMS! Everywhere you look there are new ventures & growth, walking distance to the Culver City Arts District. This neighborhood is rapidly becoming the hottest rental market in Los Angeles, with several of the most highly anticipated mixed-use developments coming in within 5-7 minutes of this property: the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), Apple's Culver City Campus, and the Cumulus District Residences ideal for live, work and play. With the influx of entertainment, tech and creative jobs coming to town, 5424 Smiley will attract high quality professional tenants or simply live in 1 and rent the other 2-endless possibilities. This property boasts an unbeatable setup: a free-standing 4 bedroom, 4.5 bathroom house in the front ($4,750 projected-leased) and a duplex in the rear containing two 3 bedroom, 3 bathroom units with all the modern amenities, central ac/heat and appliances including washer and dryer hook ups inside each garage. This design choice is invaluable to Tenants who appreciate having their own separate outdoor space including the convenience of not having to share parking. Centrally located to public transportation & major freeways! We welcome your 1031 exchange here, this property offers investors the freedom of NO RENT CONTROL, SEPARATE METERS for all utilities, minimal expenses, a 1 year fit-and-finish warranty & the ease of owning a hassle-free 2020 construction with the Certificate of Occupancy issued 4/2021. Do not miss out on this opportunity: instant cash flow at close of escrow!

HOA

$0/month

On market

19 days

Year built

2021

Property type

Multi-Family

Parking

6

MLS

MB21083203

Price / Sq.Ft.

$456 / ft2

Status

Closed

Home details for 5424 Smiley Drive

Interior Features & Layout
Appliances
•   
Laundry Details: Gas Dryer Hookup, In Garage, Inside, Washer Hookup
•   
Appliances: Dishwasher, Gas Range, Microwave, Refrigerator
•   
Has Appliances
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
•   
Room Information: Kitchen, Living Room, Master Bathroom, Master Bedroom, Walk-In Closet
•   
Average3 Bed Area: 1400
Interior Features
•   
Interior Features: Balcony, Living Room Balcony, Open Floorplan, Recessed Lighting
Heating & Cooling
•   
Has Heating
•   
Heating Details: Central
•   
Cooling Details: Central Air
Flooring
•   
Flooring: Laminate, Tile
Interior Size
•   
Building Area Total: 4600.00
Property, Lot, Community & Exterior Features
Community Info
•   
Road Frontage Type: City Street
•   
Road Surface Type: Paved
•   
Number Of Buildings: 2
•   
Total Units: 3
Parking Info
•   
Garage Spaces: 6.00
Property Features
•   
View: City Lights, Neighborhood
•   
Property Condition: Turnkey
•   
Common Walls: 1 Common Wall, No One Above, No One Below
Building Info
•   
Building Area Units: Square Feet
•   
Zoning: LARD1.5
•   
New Construction: 1
•   
Roof: Flat
•   
Stories Total: 3
•   
Num Stories: Three Or More
•   
Year Built Source: Builder
Lot Info
•   
Lot Features: Landscaped, Level with Street, Level
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.1102
•   
Lot Size Area: 4801.0000
•   
Lot Size Units: Square Feet
Property Type
•   
Architectural Style: Modern
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 3
•   
Number Of Separate Gas Meters: 3
•   
Number Of Separate Water Meters: 3
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 135360.00
•   
Water Sewer Expense: 0.00
•   
Maintenance Expense: 1200.00
•   
Total Actual Rent: 8250.00
•   
Trash Expense: 0.00
•   
New Taxes Expense: 26237.00
•   
Insurance Expense: 1700.00
•   
Vacancy Allowance: 5640
•   
Total Expenses: 29737.00
•   
Gross Scheduled Income: 141000.00
•   
Operating Expense: 29737.00
•   
Gardener Expense: 600.00
•   
Taxes Percent: 1.20
Tax/Assessment Info
•   
Gross Income: 11750.00
•   
Tax Year: 2020
•   
Taxes: 3563.0
Lease Info
•   
Net Operating Income: 105623.00
Listing Info
•   
Status: Closed
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 3
•   
Unit 3 Actual Rent: 0.00
•   
Unit 3 Total Units: 1
•   
Has Attached Garage
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Garage Spaces: 2.00
•   
Unit 3 Bathrooms: 3
•   
Unit 3 Total Rent: 0.00
Unit 2 Information
•   
Unit 2 Actual Rent: 3500.00
•   
Unit 2 Bedrooms: 3
•   
Unit 2 Total Units: 1
•   
Has Attached Garage
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 3
•   
Unit 2 Garage Spaces: 2.00
•   
Unit 2 Total Rent: 3500.00
Unit 1 Information
•   
Unit 1 Bedrooms: 4
•   
Unit 1 Total Units: 1
•   
Has Attached Garage
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 2.00
•   
Unit 1 Bathrooms: 5
•   
Unit 1 Actual Rent: 4750.00
•   
Unit 1 Total Rent: 4750.00
Multi Unit Information
•   
Number With Refrigerator: 3
•   
# Of Units: 3
•   
Number With Dishwasher: 3
•   
Number With Disposal: 3
•   
Number With Range: 3
•   
Price Per Unit: 716667
School Neighborhood & Directions
Location
•   
Community Features: Curbs, Sidewalks, Street Lights
School Info
•   
Directions: On Smiley, South of the 405
Virtual Tour Link
Virtual Tour
•   
Virtual Tour Url Unbranded
Other
Calculation
•   
Dom: 20
•   
Cdom: 69

Neighborhood snapshot

40
Properties for sale
12
Median days on market
$617.94
Median sold price/sqft
103.54%
Sold/List %
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Property History for 5424 Smiley Drive

06/23/2021
06/23/2021
CRMLS #MB21083203
sold
CRMLS #MB21083203
$2,099,000
+1.16%
06/22/2021
06/22/2021
Public Record
sold
Public Record
$2,075,000
--1.14%
05/10/2021
05/10/2021
CRMLS #MB21083203
pending
CRMLS #MB21083203
$2,099,000
04/20/2021
04/20/2021
CRMLS #MB21083203
active
CRMLS #MB21083203
$2,099,000
+218.03%
01/03/2020
01/03/2020
Public Record
sold
Public Record
$660,000
+1.54%
See more property history

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