LOS ANGELES, CA 90004 · APN 5522-002-003
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USE · CODE 020V
LAND
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE — NOT A VERIFIED CLOSING PRICE.
Rent-control rules apply to occupied residential units, not raw land. What matters here is zoning, density programs like TOC and ED1, and what the dirt can carry.
CAP RATES, GRM, AND $/UNIT FROM CLOSED COMPS →
The last recorded transfer was December 2022, at an estimated $500,000. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
The current assessed value is $520,200 ($520,200 land). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
5135 Raleigh St sits in East Hollywood, in Los Angeles. Recorded sale counts, median price per unit, median price per square foot, and the share of rent-control-era stock for the submarket are published and updated as the county roll refreshes — see the East Hollywood market page for the current figures rather than a number quoted here.
Public records give you the frame — units, size, age, assessed value, when it last traded — but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
Own this building?
FREE, CONFIDENTIAL VALUATION FROM CLOSED COMPS — 48H TURNAROUND.
NOT SELLING? GET DEALS LIKE THIS FIRST →
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.