Koenig Properties
Listed by Ed Koenig IRE, Koenig Properties
$6,000,000
5301 Sierra Vista
Details
APN 5536024008
Property Type Land
Sub Type Lots/Land
Square Footage 19,110
Net Rentable (SqFt) 19,110
Cap Rate 3.52%
NOI $210,900
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 5
Lease Expiration 12/31/2030
Remaining Term 4.6
Rent Bumps Yes
Pro-Forma Cap Rate 6.9%
Pro-Forma NOI $414,060
Price per SqFt $314
Broker Co-Op Yes
Acreage 0.439
Zoning C2 – RD1.5
Lease Commencement 01/01/2026
Occupancy Date 01/01/2026
Ground Lease Yes
Ownership 100
Income Generating Land W/ Development Potential
Marketing description
Property Highlights Include: TWO-PHASE OPPORTUNITY: Phase One: Secure, City-backed land lease & good rental income and Phase Two: Potential Multi-Residential development for sough after long-term housing. Great East Hollywood location, in vibrant and up and coming neighborhood. Property Overview: Lot Size: Approximately 19,110 square feet, Zoning: C2 RD1.5, Transit Oriented Communities (TOC): Tier 3 CURRENT USE: The site is presently leased to the City of Los Angeles as a future temporary housing facility, generating structured and escalating income while supporting critical community needs. Following the lease term, the property offers significant potential for residential development in a supply-constrained and transit-oriented submarket of Los Angeles. Projected Annual Income & Cap Rates and OM information available upon request. FUTURE USE: Potential multi-residential development responding to long-term housing demand. This property combines near-term cash flow with long-term upside, offering both financial stability and future growth potential. MOTIVATED SELLERS!
Investment highlights
New Land Lease in Place with the City of Los Angeles
Income Increases to $414,060 in January of 2027.
CAP Rate, Year 1 - 3.38 / Year 2 - 5.76 / Year 3 - 5.86 / Year 4 - 6.1 / Year 5 - 6.15
Minimum Landlord Responsibilities (Property Tax and Insurance)
Generate Income immediately while preparing for future construction.
Build up to 46 units by right or Unlimited units with 100% affordable housing units (per AB1763 /2345)
Vacant lot over 20 years, SB8 Exempt, No RSO, TOC Tier 3, Enterprise Zone
Provides cash flow while reducing holding costs during the planning and entitlement phase.
Listing Contacts
Koenig Properties
Listed by Ed Koenig IRE, Koenig Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$210,900.00
$17,575.00/mo
Valuation Metrics
0
DSCR
3.52%
Cap Rate
3.52%
ROI
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