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