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… Read More 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 Koreatown; easy access to the 101 Freeway via Western Ave. Read Less
Courtesy of Marcus & Millichap 310-909-5500
Listing Snapshot
Days Online
137
Last Updated
Property Type
Other
Square Ft.
10,292
Lot Size
0.17 Acres
Year Built
1927
MLS Number
25-477487
30 Days Snapshot Of 90038
$935k
-12%
(avg) sold price
1
-75%
home sold
67
+59%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
10,292 sq ft, Built in 1927, Levels: Two
Cooling
None
Disclosures
None
Garage
None
Heating
None
Lot
LotAcreage: 0.1722, LotSizeArea: 7,502
Parking
TotalParking: 0
Property
NumberOfUnits: 20, Zoning: LAR3
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