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5836 Lexington Ave

Los Angeles, CA 90038
  • $2,290,000
  • STATUS: Active
  • ON SITE: 78 Days
  • MLS #: 21-783030
Price Reduced
$2,290,000
  • 9
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,026
    SQFT
  • $380
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1956
County:
Area:

School Ratings & Info

Description

Price Reduced! Extremely LOW rents, over 60% upside. Offered for sale with next door 5828 Lexington Ave, a RARE DOUBLE LOT Opportunity. Both adjacent lots total 15,000sf of R3 Zoning within an Opportunity Zone, including Tier 2 TOC Bonus Density. 5836 Lexington Ave is an 8-unit income producing, multi-family property in the heart of Hollywood, one of the most desirable submarkets in Los Angeles. The asset boasts a diverse unit mix of 2 and 1 Bedroom, and Studio units. This particular pocket of Hollywood is near the Hollywood Hills, the famed Griffith Observatory, and minutes from all major attractions and nightlife of downtown Hollywood, such as the TCL Chinese Theatre, and the Hollywood Walk of Fame. The location, type of units offered, and the well maintained condition of the asset will attract a wide variety of qualified tenants, allowing the astute investor to capture the considerable 52% UPSIDE left throughout the rents. [ On both 5828 and 5836 Lexington, total remaining upside throughout rents is 65%, or 1.5 times the current NOI. SEE 5828 Lexington for details.]

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-30T23:43:16.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/121382691
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5836 Lexington Ave Los Angeles, CA 90038

  • Price: $2,290,000
  • Status: Active
  • On Site: 78 Days
  • MLS #: 21-783030
9
Beds
0
Baths
0
½ Baths
0.17
Acres
6,026
SQFT
$380
$/SQFT
1956
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
Price Reduced! Extremely LOW rents, over 60% upside. Offered for sale with next door 5828 Lexington Ave, a RARE DOUBLE LOT Opportunity. Both adjacent lots total 15,000sf of R3 Zoning within an Opportunity Zone, including Tier 2 TOC Bonus Density. 5836 Lexington Ave is an 8-unit income producing, multi-family property in the heart of Hollywood, one of the most desirable submarkets in Los Angeles. The asset boasts a diverse unit mix of 2 and 1 Bedroom, and Studio units. This particular pocket of Hollywood is near the Hollywood Hills, the famed Griffith Observatory, and minutes from all major attractions and nightlife of downtown Hollywood, such as the TCL Chinese Theatre, and the Hollywood Walk of Fame. The location, type of units offered, and the well maintained condition of the asset will attract a wide variety of qualified tenants, allowing the astute investor to capture the considerable 52% UPSIDE left throughout the rents. [ On both 5828 and 5836 Lexington, total remaining upside throughout rents is 65%, or 1.5 times the current NOI. SEE 5828 Lexington for details.]
Exterior Features

Cross Streets LexingtonBetween Bronson And N Van Ness Lot Size Area 7500 Other Structures Accessory Bldgs Parking Garage Carport Total Parking 7

Interior Features

Baths Total 8.00 Cooling None Equipment None Heating None

Property Features

Assessed Total Value 627986 Gross Income 121548 Gross Operating Income 117902 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 62148.00 Number Of Buildings 1 Number Of Units 8 Rent Control YN Yes Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Assessor Total Annual Expense 55754 Type Of Units Apartments Year Built Source Assessor Zoning Lar3

Listing provided courtesy of Chase Simonton DRE#01766871 of Re/Max One.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-30T23:43:16.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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