5406 Lexington Avenue, Los Angeles, CA 90029
-
Listed Price :
$7,995,000
-
Beds :
8
-
Baths :
42
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Property Size :
25,048 sqft
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Year Built :
1928
Property Description
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
Interior Features
| Bedroom Information |
| Bedrooms |
8 |
| Bathroom Information |
| Bathrooms |
42 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
5406 Lexington Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90029 |
| County |
Los Angeles |
| Listing Agent |
Neema Ahadian DRE #01346750 |
| Courtesy Of |
Marcus & Millichap |
| List Price |
$7,995,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
25,048 |
| Lot Size |
12,188 |
| Year Built |
1928 |
Listing information courtesy of: Neema Ahadian, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:41 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
