5737 Lexington AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90038
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,292 sqft
Price per Sqft $296
MLS Listing ID 25477487
HOA Y/N No
Year Built 1927
Lot Size 7,501 Sqft
Property Description
We are pleased to present 5737 Lexington Ave, a 20-unit multifamily investment opportunity in Hollywood located north of Santa Monica Blvd between N Van Ness Ave & Wilton Pl. The property features a unit mix of 20 singles; renovated units include hardwood floors, updated appliances, tile bathrooms, new cabinetry, and ceiling fans. At the asking price, the property is being offered at a 5.92% CAP rate at 9.12 GRM on current income with an additional 16% rental upside achievable as units turn through continued interior renovations. The property has professional landscaping and a secured, gated entrance with intercom access; significant cap ex has been invested by ownership into the systems and common areas including new security camera system, intercom, common area paint & lighting fixtures, lobby tile flooring, refinished hallway flooring, outdoor furniture, exterior facade paint, and water heater. The building is separately metered for electricity and has an on-site laundry room with two washers and two dryers. High Walk Score of 87, the property is less than a mile from the Metro Red Rail Line, and walking distance to Metro Local Lines along Santa Monica Blvd & Western Ave. This neighborhood of Koreatown is ideally located with a short commute to Los Feliz, West Hollywood, and Koreatown; easy access to the 101 Freeway via Western Ave.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5536005005
Special Listing Condition Standard