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    5522 Lexington Avenue

    Los Angeles (City), CA 90038
    • $1,960,000
    • STATUS: Active
    • ON SITE: 8 days
    • MLS #: 21678602
    UPDATED: 55 min ago
    $1,960,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,133
      SQFT
    • $320
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    I am pleased to present the opportunity to acquire 5522 Lexington Avenue, a 10-unitapartment community in East Hollywood. The property offers investors a unique opportunity to acquire a well-maintained building with stable operating history and remaining rental upside. 5522 Lexington Avenue is situated in between some of the most famous and highly trafficked thoroughfares in Los Angeles, Sunset Boulevard and Santa Monica Boulevard. The property features, on-site parking, on-site laundry and is individually metered for electric and gas. Current ownership has extensively renovated three of the 10 units at the property including adding new appliances, new cabinetry, new flooring, new counter-tops, and upgraded lighting and plumbing fixtures. Renovated units are achieving premiums over the average in-place rents: $331 for studio units and $595 for one-bedroom units.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-21T08:26:48.03. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

    www.desertareahomesforsale.com/homes/113194545
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    5522 Lexington Avenue Los Angeles (City), CA 90038

    • Price: $1,960,000
    • Status: Active
    • Updated: 55 min ago
    • MLS #: 21678602
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,133
    SQFT
    $320
    $/SQFT
    1962
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    I am pleased to present the opportunity to acquire 5522 Lexington Avenue, a 10-unitapartment community in East Hollywood. The property offers investors a unique opportunity to acquire a well-maintained building with stable operating history and remaining rental upside. 5522 Lexington Avenue is situated in between some of the most famous and highly trafficked thoroughfares in Los Angeles, Sunset Boulevard and Santa Monica Boulevard. The property features, on-site parking, on-site laundry and is individually metered for electric and gas. Current ownership has extensively renovated three of the 10 units at the property including adding new appliances, new cabinetry, new flooring, new counter-tops, and upgraded lighting and plumbing fixtures. Renovated units are achieving premiums over the average in-place rents: $331 for studio units and $595 for one-bedroom units.
    Exterior Features

    Lot Size Dimensions 50X150 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Covered Parking YN Yes

    Property Features

    Country Us Gross Income 135013.00 Gross Multiplier 14.52 Gross Operating Income 130963.00 Net Operating Income 78704.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 52259.00 Vacancy Allowance Rate 0.00 Zoning Lar4

    Listing provided courtesy of Sean Rosenzweig of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-21T08:26:48.03. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

     
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