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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$3,950,000

Est. payment - /mo

3,436 Sqft Lot

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UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26055959

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1949

Lot Size 3,436 Sqft

Property Sub-Type Mixed Use

Property Description

Located at 5850 W Olympic Blvd, the Olympic Motor Lodge represents a premier investment and development opportunity in the heart of Los Angeles' high demand Miracle Mile and Mid-Wilshire corridor. This strategic location places the property in a world-class cultural hub, situated just blocks from the Academy Museum of Motion Pictures, LACMA, and the La Brea Tar Pits, while remaining steps away from the vibrant dining scene of Little Ethiopia. Centrally positioned between the luxury of Beverly Hills and the commercial energy of Downtown LA, the property sits on a prime parcel of land where potential rezoning for multifamily residential use offers a lucrative long-term play for developers looking to capitalize on the city's increasing density.
The property has undergone a comprehensive series of high-end infrastructure and cosmetic upgrades that ensure a turnkey experience with virtually no deferred maintenance. In 2024 and 2025 alone, the motel was outfitted with brand-new Pergo laminate flooring, energy-efficient double-pane windows, and wall-mounted mini-split HVAC units for modern climate control. The plumbing and water systems were similarly revolutionized in 2024 with the installation of a new tankless water heater and a building-wide water softener system. These recent improvements build upon a solid foundation of copper plumbing and a fully redone electrical system—including a new main panel—and fully insulated walls, all completed to ensure long-term structural integrity and efficiency. Beyond its physical excellence, the motel offers a robust, three-tiered revenue model that provides immediate financial stability. In addition to steady lodging income, the property features a guaranteed passive income stream through a billboard currently leased by Lennar. There is significant untapped upside for a new owner-operator; by converting the current owner's unit—which features a
private gas stove and washer/dryer—back into a guest room and renting out the second family unit, the monthly rent roll can be substantially increased. Whether viewed as a high-performing boutique hospitality asset or a strategic land-bank for future multi-family development, this Miracle Mile gem is perfectly positioned for the sophisticated investor.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Interior

Interior Features Phone System, Recessed Lighting, Storage, Primary Suite, Utility Room

Heating Ductless, ENERGY STAR Qualified Equipment

Cooling Ductless, ENERGY STAR Qualified Equipment

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Dishwasher, ENERGY STAR Qualified Appliances, Electric Range, Disposal, Gas Range

Laundry Electric Dryer Hookup, Gas Dryer Hookup, Laundry Room

Exterior

Exterior Feature Rain Gutters

Parking Features Driveway, On Site, Paved, See Remarks, Side By Side

Pool None

Community Features Biking, Curbs, Sidewalks, Urban

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

View Y/N Yes

View Neighborhood

Roof Type Flat

Accessibility Parking

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Corner Lot, Front Yard, Garden, Irregular Lot

Story 2

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Mediterranean

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 5085001014

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

Energy Description 1536.0

Acceptable Financing Cash, Cash to New Loan, Submit

Listing Terms Cash, Cash to New Loan, Submit

Special Listing Condition Standard

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Listed by Joseph Rudd Keller Williams Realty-Studio City 818-605-7732, DRE #01518987

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5850 W Olympic #7 Los Angeles, CA 90036