Active

5406 Lexington Ave

Los Angeles CA, 90029

$7,995,000


$319.19 per sqft

Active

8 Beds

42 Baths

25,048 sqft

Multi-family

Built in 1928

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

24-408305

MLS ID

June 25, 2024

Listed

October 2, 2024

Updated

Map

5406 Lexington Ave
Los Angeles CA, 90029

Interior Features

Total Stories

0


Bedrooms

8


Total Bathrooms

42


Appliances

None


Fireplace

No


Cooling

No


Cooling Description

None


Heating

No


Heating Description

None

Exterior/Building Features

Lot Size

0.28 Acres

Other Property Details

Area Name

Hollywood


Days on Market

8


Garage

No


Parking

Detached


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

LAR4

Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor OMNI Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/2/2024

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