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 6.20% CAP rate at 8.75 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.
Property Details
Price:
$2,900,000
MLS #:
25477487
Status:
Active
Baths:
0
Address:
5737 Lexington Avenue
Type:
Residential Income
Neighborhood:
c20hollywood
City:
Los Angeles
Listed Date:
Dec 16, 2024
State:
CA
ZIP:
90038
Lot Size:
7,502 sqft / 0.17 acres (approx)
Year Built:
1927
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Interior
Cooling
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Parking Features
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Parking Spots
0.00
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Community
- Address5737 Lexington Avenue Los Angeles CA
- AreaC20 – Hollywood
- CityLos Angeles
- CountyLos Angeles
- Zip Code90038
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5737 Lexington Avenue
Los Angeles, CA
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