Los Feliz Apartment Building Sold: 5424 Franklin Avenue, Los Angeles, CA 90027

Jared Levine of JML Real Estate Group and Hirsch Sherman help a Buyer acquire as 19-Unit Los Feliz Multifamily Property for $2.9 Million.

Jared Levine of JML Real Estate Group and Hirsch Sherman of Sherman and Levine of KW Commercial are proud to announce the successful sale of 5424 Franklin Avenue, Los Angeles, CA 90027, a character-rich multifamily investment property located in the heart of Los Feliz. Representing the Buyer, I was able to secure this exceptional asset for $2,900,000, significantly below the property's original asking price of $3,500,000.

This transaction represents an outstanding acquisition for a local investor who already owns property in the surrounding area and understands the long-term value of owning multifamily real estate in one of Los Angeles' most desirable and supply-constrained neighborhoods.

Property Overview

Located along the iconic Franklin Avenue corridor, the property consists of 19 legal apartment units plus one vacant non-conforming unit, offering investors immediate scale and attractive in-place cash flow.

Property Highlights

• Address: 5424 Franklin Avenue, Los Angeles, CA 90027

• Location: Los Feliz

• Unit Count: 19 Units + 1 Vacant Non-Conforming Unit

• Year Built: 1925

• Building Size: 12,636 Square Feet

• Lot Size: 11,439 Square Feet

• Parking: 10 On-Site Spaces

• Separately Metered Units

• On-Site Laundry Facilities

• Secured Access Entry

• Classic Architectural Character

The property has been exceptionally maintained over the years while preserving much of the architectural charm that makes vintage Los Feliz apartment buildings so attractive to both residents and investors.

Strong Investment Metrics

The acquisition was completed at pricing that provided compelling value relative to today's Los Angeles multifamily market.

Sale Metrics

• Sale Price: $2,900,000

• Approximately $152,000 Per Unit

• Approximately $229 Per Square Foot

• Approximately 8.9 GRM

• Over 6% Capitalization Rate

For investors seeking stable cash flow in prime Los Angeles neighborhoods, opportunities to acquire well-maintained assets at these metrics have become increasingly difficult to find.

Why Los Feliz Remains a Premier Multifamily Investment Location

Los Feliz continues to be one of the most sought-after rental markets in Los Angeles. Situated adjacent to Hollywood, Silver Lake, Griffith Park, and Downtown Los Angeles, the neighborhood attracts a diverse tenant base ranging from entertainment professionals and creatives to young professionals and long-term residents.

Residents enjoy immediate access to:

• Griffith Park and the Griffith Observatory

• The Greek Theatre

• Franklin Village

• Los Feliz Village

• Hollywood and Silver Lake

• Numerous restaurants, cafés, and retail amenities

  
  

The area's walkability, historic charm, and limited housing supply continue to support strong rental demand and long-term appreciation potential.

A Smooth Escrow from Start to Finish

One of the most rewarding aspects of this transaction was the professionalism displayed by all parties involved. Escrow proceeded smoothly, allowing both Buyer and Seller to achieve their objectives efficiently.

For my client, this acquisition was particularly strategic because it expands an existing ownership footprint in the neighborhood. Acquiring properties within markets investors already know and operate in often creates operational efficiencies and provides additional confidence in long-term performance.

Well-Located Multifamily Assets Continue to Attract Strong Buyer Interest

This sale is another example that, despite higher interest rates and changing market conditions, the Los Angeles multifamily market remains active for well-located properties that are priced appropriately. While buyers today are generally more disciplined and focused on cash flow than they were several years ago, quality assets in desirable neighborhoods continue to generate significant interest when they are brought to market at realistic pricing levels.

The Seller originally marketed the property at $3,500,000, but ultimately recognized where the market was willing to transact. By aligning expectations with current market conditions, the transaction moved forward smoothly and resulted in a successful closing for both parties.

Properties such as 5424 Franklin Avenue continue to stand out because they offer a combination of characteristics that investors value: a premier Los Feliz location, attractive in-place returns, architectural charm, on-site parking, separate utility metering, and long-term rental demand. These fundamentals remain highly desirable, particularly for investors seeking stable income-producing assets in established Los Angeles neighborhoods.

As the market has evolved, many investors have shifted their focus toward properties that provide immediate cash flow and strong operational fundamentals rather than relying solely on future appreciation. Assets that can deliver both current income and long-term upside continue to attract experienced buyers who understand the value of owning multifamily real estate in supply-constrained neighborhoods such as Los Feliz.

Looking for Los Feliz Multifamily Opportunities?

Despite ongoing shifts in the Los Angeles multifamily market, opportunities still exist for investors who understand how to identify value and act decisively when the right asset becomes available.

Whether you are considering selling a Los Feliz apartment building, completing a 1031 exchange, or searching for your next multifamily investment opportunity, having access to accurate market information and experienced representation can make a significant difference in the outcome.

If you would like a confidential opinion of value for your apartment building or want to discuss current investment opportunities in Los Feliz, Silver Lake, Hollywood, Studio City, Pasadena, or elsewhere throughout Los Angeles County, feel free to reach out.

Contact us today! 818.657.6556 or jared@jaredmlevine.com