5737 Lexington Avenue Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90038
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,292 sqft
Price per Sqft $281
MLS Listing ID CL25477487
Year Built 1927
Lot Size 7,502 Sqft
Property Sub-Type Other
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 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 K
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating None
Cooling None
Building
New Construction No