|
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
Last Updated | 10/17/2024 | Year Built | 1928 |
---|---|---|---|
Community | Hollywood | County | Los Angeles |
Additional Details
AIR | None |
---|---|
AREA | Hollywood |
HEAT | None |
LOT | 0.28 acre(s) |
ZONING | LAR4 |
Location
Contact us about this Property
/ | |
We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". |
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.