$7,995,000
- Beds
- 8
- sq ft
- 25,048
5406 Lexington Ave, Los Angeles, CA 90029
5406 Lexington Ave
Los Angeles, CA 90029
- 95 days on market
5406 Lexington Ave is a 42-unit multifamily investment opportunity located just off of the 101 Freeway between Fountain Ave & Santa Monica Blvd in Hollywood. The property features a unit mix of 34 singles and 8 one-bedrooms; three singles will be delivered vacant; renovated units include new cabinetry, vinyl-plank flooring, stainless-steel appliances, tile bathrooms, new paint, and wall AC's; ownership has spent $447k on interior unit renovations since 2021; many of the units also feature exposed brick. Additionally, the property includes the adjacent 4,687 SF lot currently used for parking; there are 14 parking spaces in the gated lot. At the asking price, the property is being offered at a 5.54% CAP rate at 10.39 GRM on current income with an additional 14% rental upside achievable as units turn through continued interior renovations. There is significant additional income with RUBS in place, as well as internet service. The property has a secured, gated entrance with intercom access. High Walk Score of 91, the property is walking distance to the Metro B Rail Line, and multiple Metro Local Lines along Fountain Ave and Santa Monica Blvd. The property is ideally located with a short commute to Koreatown, Los Feliz, Silver Lake, Echo Park, and Downtown Los Angeles. APNs: 5537-006-002 &5537-006-001
Details
Property type
Lot size
0.2798 acres
Price per sq ft
$320
Year built
1928
HOA
No
Price History
06/17/2024
CLAW #24408305
Listed
$7,995,000
+5.2%
03/07/2018
CLAW #17269520
Sold
$7,600,000
Schools & Community
Neighborhood:
Hollywood
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 09/28/2024 at 6:00 PM
Listing updated: 06/25/2024 at 3:43 PM
Listed by: Neema Ahadian, Marcus & Millichap Phone #: (310) 909-5500
MLS: CLAW #24408305
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