Langdon Park at Hollywood Studios 5640 Santa Monica Blvd
177 Unit Apartment Building $34,254,241 CAD ($193,527 CAD/Unit) 6.17% Cap Rate Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- Prime Hollywood Location
- On-Site Laundry, On-Site Leasing Office, On-Site Storage, On-Site Parking (63)
- Favorable & Below Market Assumable Financing Available
- Located Directly Across the Street from the $450,000,000- Echelon Studios Development
- Located in the Heart of Hollywood, Close Proximity to a Myriad of Entertainment, Shopping and Dining Destinations
EXECUTIVE SUMMARY
Introducing a prime investment opportunity in the heart of Hollywood! Located at 5640 Santa Monica Blvd, Los Angeles, CA 90038, this historic
1927 property offers a unique blend of vintage charm and modern amenities. Comprising 177 units (176 studios and 1 one-bedroom, onebathroom),
4 retail spaces, and a billboard, this mixed-use building presents significant income potential.
Residents enjoy newly renovated units featuring granite countertops, charming kitchenettes, two-tone painted interiors, new black appliances, city views, cable readiness, window coverings, open floor plans, large windows for natural light, and ceiling fans. Community amenities include controlled access, parking for an additional fee, resident package retrieval lockers, bicycle parking, an elevator, off-street parking, on-site maintenance and management, public transportation access, recycling, and on-site retail
stores.
The building's prime location puts residents in close proximity to popular dining destinations like La Fonda Antioquena, Dave's Hot Chicken, Jitlada Restaurant, and Canter's Deli. Entertainment and cultural attractions abound, including The Hollywood Museum, Paramount Theatre, Barnsdall Art Park, and the American Cinematheque. Shopping and entertainment options are readily available at Ovation Hollywood, West Hollywood Gateway, Catalina's
Supermarket, and Pavilions.
The property is also conveniently located near major employers like Paramount Pictures Studio Tour and esteemed educational institutions such as Joseph Le Conte Middle School, STEM Academy Of Hollywood, Bernstein High School, and Hollywood Elementary School. This is a rare chance to own a piece of Hollywood history with exceptional potential for growth.
Directly across from the subject property, the transformative Echelon Studios development is taking shape, a $450-million project by Bardas Investment Group and Bain Capital Real Estate. Spanning a full city block at 5601 Santa Monica Blvd, this state-of-the-art studio complex will feature nearly 500,000 square feet of production studios and support space, alongside creative offices and retail, with completion slated for 2026. This cutting-edge campus, replacing a former Sears site, is poised to elevate the area’s profile as a hub for entertainment and innovation, enhancing the value and appeal of nearby properties.
1927 property offers a unique blend of vintage charm and modern amenities. Comprising 177 units (176 studios and 1 one-bedroom, onebathroom),
4 retail spaces, and a billboard, this mixed-use building presents significant income potential.
Residents enjoy newly renovated units featuring granite countertops, charming kitchenettes, two-tone painted interiors, new black appliances, city views, cable readiness, window coverings, open floor plans, large windows for natural light, and ceiling fans. Community amenities include controlled access, parking for an additional fee, resident package retrieval lockers, bicycle parking, an elevator, off-street parking, on-site maintenance and management, public transportation access, recycling, and on-site retail
stores.
The building's prime location puts residents in close proximity to popular dining destinations like La Fonda Antioquena, Dave's Hot Chicken, Jitlada Restaurant, and Canter's Deli. Entertainment and cultural attractions abound, including The Hollywood Museum, Paramount Theatre, Barnsdall Art Park, and the American Cinematheque. Shopping and entertainment options are readily available at Ovation Hollywood, West Hollywood Gateway, Catalina's
Supermarket, and Pavilions.
The property is also conveniently located near major employers like Paramount Pictures Studio Tour and esteemed educational institutions such as Joseph Le Conte Middle School, STEM Academy Of Hollywood, Bernstein High School, and Hollywood Elementary School. This is a rare chance to own a piece of Hollywood history with exceptional potential for growth.
Directly across from the subject property, the transformative Echelon Studios development is taking shape, a $450-million project by Bardas Investment Group and Bain Capital Real Estate. Spanning a full city block at 5601 Santa Monica Blvd, this state-of-the-art studio complex will feature nearly 500,000 square feet of production studios and support space, alongside creative offices and retail, with completion slated for 2026. This cutting-edge campus, replacing a former Sears site, is poised to elevate the area’s profile as a hub for entertainment and innovation, enhancing the value and appeal of nearby properties.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$4,327,411
|
$75.05
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$129,822
|
$2.25
|
| Effective Gross Income |
$4,197,589
|
$72.79
|
| Taxes |
-
|
-
|
| Operating Expenses |
$2,083,683
|
$36.13
|
| Total Expenses |
$2,083,683
|
$36.13
|
| Net Operating Income |
$2,113,906
|
$36.66
|
PROPERTY FACTS
| Price | $34,254,241 CAD |
| Price Per Unit | $193,527 CAD |
| Sale Type | Investment |
| Cap Rate | 6.17% |
| Gross Rent Multiplier | 7.92 |
| No. Units | 177 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.86 AC |
| Building Size | 57,664 SF |
| Average Occupancy | 91% |
| No. Stories | 4 |
| Year Built | 1927 |
| Parking Ratio | 1.2/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- On-Site Retail
- Wi-Fi
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 171 | - | 170 - 323 |
| 1+1 | 6 | - | 500 |
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $46,494,445 CAD | |
| Land Assessment | $31,294,338 CAD | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $15,200,107 CAD | Tax Year | 2024 |
ZONING
| Zoning Code | LAC2 (C2-1D: ~28,294 Sq. Ft. of Land RD1.5-1XL: ~9,250 Sq. Ft. of Land) |
