5737 Lexington Ave - Apartments FOR SALE


Los Angeles, CA 90038
$3,050,000 USD
310-909-5444
5737 Lexington Ave, Los Angeles, CA for Sale
$3,050,000 USD
Apartments - FOR SALE
1/12
null | 5.92% Cap Rate

5737 Lexington Ave
Los Angeles, CA 90038


HIGHLIGHTS

  • Marcus & Millichap is pleased to present 5737 Lexington Ave, a 20-unit multifamily investment opportunity in Hollywood
  • The property features a unit mix of 20 singles
  • At the asking price, the property is being offered at a 5.92% CAP rate at 9.12 GRM on current income with an additional 16% rental upside
  • The property has professional landscaping and a secured, gated entrance with intercom access; significant cap ex has been invested by ownership
  • The building is separately metered for electricity and has an on-site laundry room with two washers and two dryers

OVERVIEW

Marcus & Millichap is 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 5.92% CAP rate at 9.12 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 façade 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.

FOR SALE DETAILS

PRICE

$3,050,000 USD

PRICE/SF

$296 USD /SF

# OF UNITS

20

PRICE/UNIT

$152,500

CAP RATE

5.92%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lexington Ave Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

LAR3

APN/PARCEL ID

5536-005-005

ASK ABOUT THIS PROPERTY

Neema AhadianMarcus & MillichapMore Info
310-909-5444

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Neema AhadianMarcus & MillichapMore Info
310-909-5444

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.