Los Angeles, CA 90016,5511 Smiley DR
Los Angeles, CA 90016,5511 Smiley DR
Los Angeles, CA 90016,5511 Smiley DR
Los Angeles, CA 90016,5511 Smiley DR
Los Angeles, CA 90016,5511 Smiley DR
Los Angeles, CA 90016,5511 Smiley DR
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Patrick Raymond

Patrick Raymond

Raymond Team | Modern Broker

+1(805) 202-4272
$ 1,490,000
Est. payment | /mo

11 Beds

8 Baths

5,670 SqFt


Save
$ 1,490,000
Est. payment | /mo
Save

11 Beds

8 Baths

5,670 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,670 sqft

Price per Sqft $262

MLS Listing ID 25557631

Bedrooms 11

Construction Status Fixer,Repairs Cosmetic,Updated/Remodeled

HOA Y/N No

Year Built 1964

Lot Size 7,196 Sqft

Property Description

5511 Smiley Drive is a 7-unit apartment building situated in the heart of the burgeoning West Adams neighborhood. A savvy investor will have the opportunity to increase the building's value by exploiting its huge rental upside (approximately 66%), by way of future tenant turnover and capital improvements. The property's diverse unit mix consists of one 2+2, three 2+1's, and three 1+1's. Numerous upgrades such as security camera installation, vinyl windows, a newer roof, and exterior paint have been made for lower maintenance ownership. There is ample tenant parking, owned communal laundry machines, and a storage room that could be rented or retained for the owner's use. Lastly, the 7,200 square foot lot is 50% larger than the standard 4,800 square foot lot for the area. Superbly located just steps away from the heart of the West Adams commercial corridor, 5511 Smiley Drive provides residents with many of the great things LA has to offer right outside their front door. The property features a stellar 83 walk score and is central to major employment, freeways, and points of interest alike. Tenants with children have numerous nearby parks and schools to choose from, including Westside Neighborhood Park, Marvin Avenue Elementary, and Hamilton High School. Public transit is also easily accessible at the La Cienega/Jefferson Metro station at just 0.7 miles away. With 5511 Smiley, investors can hedge against inflation, leverage tax advantages, and add more value.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LARD2

Interior

Interior Features Ceiling Fan(s)

Flooring Carpet, Laminate, Tile

Fireplaces Type None

Fireplace No

Appliance Disposal, Microwave, Refrigerator

Laundry Common Area, Laundry Room

Exterior

Parking Features Assigned, Carport, Garage, Side By Side, Tandem

Pool None

View Y/N Yes

View City Lights

Roof Type Composition

Total Parking Spaces 10

Private Pool No

Building

Faces South

Story 2

Entry Level Two

Foundation Slab

Sewer Other

Level or Stories Two

New Construction No

Construction Status Fixer,Repairs Cosmetic,Updated/Remodeled

Others

Senior Community No

Tax ID 5048024026

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Special Listing Condition Standard

CRMLS – RECore
Listed by Jordan Peikin Jordan Peikin

REVIEWS

Ximena Ames Nugent

Professional & Paid Attention to My Needs

I am very impressed with the professionalism of this team! They worked very hard with terrific attention to details and respect for my needs. I would highly recommend Ruby and Patrick as they are knowledgeable, and dedicated to their clients.

rwgbjg

Exceptional Realtors

There are a number of solid and competent realtors that can help you navigate the paperwork needed to either close a sale or negotiate a purchase of a home. The number of exceptional realtors who can develop a effective markeketing plan based on research, investment and strength of intellect and character are few and hard to find. Patrick and Ruby Raymond are those exceptional realtors. In addition, the other members of their team were each exceptional and epitomize professionalism. When Patrick first approached me, he stated a price than our home would generate that exceeded what I thought the market would bear. Then he proceeded to explain how this sale price could happen. First, he knew our neighborhood and its strength and weaknesses regarding its saleability. Next, he revealed the investments he had made to obtain a data base of pre-qualified buyers from throughout our state and around the country. Finally, Patrick and Ruby provided an in depth strategy on how to stage our home, establish timelines, and present tools they would use to sell the home. Some of their strategies were known but not always followed by other realtors, and additional strategies were proprietary to the Raymond team. The result was that we received three offers each either meeting of exceeding what Patrick and Ruby first told us our home could sell for. Throughout the process they both remained calm and focused even when little hickups occurred. It was a learning experience for us when we had questions about staging the home I found out later from the buyers how much Rubys’ strategies influenced their purchasing decision. Needless to say it is without any reservations that we would recommend the Raymond team whether you are purchasing or selling a home. P.S. They even gave us great input on strategies on how to buy our current home in a very competitive market.

Heather Squire

Transparent, Reliable & Honest

Ruby was extremely helpful, open, transparent, and reliable through the whole process, she really cared about us, understood our needs. Ruby was always available to answer our questions. Ruby really is the best! She was thorough and professional and great to work with. She scheduled the inspection and pest company, made it so easy to get everything done. She was honest and forthright- no games. Would use her again tomorrow if we were to buy or sell in the area.

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How Does The Raymond Team Deliver Exceptional Real Estate Service?

Expert Guidance

We educate you on the market and guide you to the best best decision about your move.

Proven Systems

Over 23 years of real estate experience  has helped us perfect our results-driven buying and selling systems.

Results Driven

We listen, we communicate, and we track every step of the process to ensure a seamleass transaction.

agent
Patrick Raymond

Agent | License ID: 01480728

+1(805) 202-4272 | patrick@patrickraymond.com

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