5826 Carlton Way presents a rare opportunity to acquire a historically significant multifamily asset in the heart of Hollywood. Built in 1924 by Paramount Pictures to house its actors during the Golden Age of cinema, this character rich property known today as Carlton Canyon Apartments offers a blend of classic architecture and modern living amenities. Offered as a portfolio sale at $8,550,000, the package includes the 36 unit + 2 ADU's apartment building priced at $7,750,000, and a separately parceled 4,468 SF parking lot across the street listed at $800,000. Zoned Q R4 1VL, Tier 3 TOC, the lot presents a compelling development opportunity. While a high density build of ~20 units is feasible, a more straightforward approach could be a 3 story multifamily structure with fewer units. The two parcels are described under separate APNs with no covenant tying them together, allowing a buyer to sell them individually if desired. Some tenants have parking as a lease provision, while others hold it under addenda, creating flexibility for future parking income or redevelopment plans. The building is operating at a 3.76% cap rate based on current income, with a market upside to 7.28%. and a low $225K per door. The unit mix consists of 1 bachelor, 35 studios, and 2 newly built ADUs. Approximately 25 units have been remodeled, 75% of tenants are on RUBS, and the property features new copper wiring, sporadic copper plumbing, and landlord owned basement laundry for additional income.