$7,995,000 Price Analysis   ♡   Los Angeles, CA 90029 8 bed 42 bath 25,048 SqFt ($319/SqFt) 0.28 acre lot. Built 1928 Listed 2024-06-25, Taxes $105,182 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
5406 Lexington Ave is a 42-unit multifamily investment opportunity located off of the 101 Freeway between Fountain Ave and 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 wth intercom access. High Walk Score of 91, the property is walking distance to the Metro B Rail Line and multiple Metro Local Lines along Fo untain 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 and5537-006-001
Presented by Neema Ahadian at
Marcus & Millichap.
Property MLS #24-408305 from TheMLSCLAW
Full Bathrooms: 42
Lot Size Square Feet: 12188
Calculated Total Monthly Association Fees: 0
Number of Units: 42
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 54400, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 15200
County: Los Angeles
Cap Rate: 5.54
Directions: Locatedjust off of the 101 Freeway between FountainAve & Santa Monica Blvd in Hollywood
Source Property Type: Residential Income
Area: Hollywood
Source Neighborhood: Hollywood
Parcel Number: 5537-006-002
Zoning: LAR4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $2,628,000 + $6,132,000 $8,760,000 | $105,182 |
| 2021 | $2,154,916 + $5,781,481 $7,936,397 | $96,162 |
| 2020 | $2,132,820 + $5,722,200 $7,855,020 | $97,142 |
| 2019 | $2,091,000 + $5,610,000 $7,701,000 | $93,299 |
| 2018 | $478,887 + $221,917 $700,804 | $11,054 |
| 2017 | $469,498 + $217,566 $687,064 | $10,811 |
| 2016 | $460,293 + $213,300 $673,593 | $10,232 |
| 2015 | $453,379 + $210,097 $663,476 | $10,113 |
| 2014 | $444,498 + $205,982 $650,480 | $10,430 |
| 2013 | $442,490 + $205,052 $647,542 | $10,430 |
| 2012 | $433,814 + $201,032 $634,846 | $10,555 |
| 2010 | $425,308 + $197,091 $622,399 | $10,509 |
| 2009 | $423,133 + $196,083 $619,216 | $10,103 |
| 2009 | $422,130 + $195,618 $617,748 | $10,103 |
| 2008 | $414,837 + $192,239 $607,076 | $9,773 |
| 2007 | $406,703 + $188,470 $595,173 | $9,369 |
$7,995,000
TheMLSCLAW
Sold 2021-12-10
$8,910,000
Public Record
Sold 2018-03-07
$7,600,000
Public Record
Listing removed 2018-03-07
$7,850,000
TheMLSCLAW
Price Changed 2017-12-14
$7,850,000
TheMLSCLAW
Listed 2017-09-11
$7,975,000
TheMLSCLAW
Sold 1995-12-14
$715,000
Public Record
Sold 1988-08-25
$2,951,000
Public Record
Year Built: 1928
Levels: Multi Levels
Living Area Source: Vendor Enhanced
Property Age: 96
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.