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5522 Lexington Ave 10 Unit Apartment Building $1,700,000 ($170,000/Unit) 4.42% Cap Rate Los Angeles, CA 90038
Investment Highlights
- Value-add opportunity with approximately 57% rental upside to market levels.
- Prime Hollywood location near major employers, entertainment, and retail.
- Offered at $150K–$170K per unit, below replacement cost in a high-demand market.
- 10-unit mix of studios, one-bedroom, and two-bedroom units for broad appeal.
- Projected NOI growth from ±$75K to ±$156K at stabilization for strong returns.
- 100% occupied, providing immediate cash flow and gradual rent increase potential.
Executive Summary
David Harrington
Matthews Real Estate Investment Services, Inc
License # 02168060, 01320460 (CA)
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 02168060, 01320460 (CA)
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
Property Facts
| Price | $1,700,000 | Building Class | C |
| Price Per Unit | $170,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 6,133 SF |
| Cap Rate | 4.42% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.63/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R4-1VL | ||
| Price | $1,700,000 |
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| Cap Rate | 4.42% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,133 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.63/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4-1VL |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 6 | - | - |
| 2+1 | 1 | - | - |
1 1
Very walkable
80/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5536-008-007 | Improvements Assessment | $836,637 |
| Land Assessment | $1,254,957 | Total Assessment | $2,091,594 |
Property Taxes
Parcel Number
5536-008-007
Land Assessment
$1,254,957
Improvements Assessment
$836,637
Total Assessment
$2,091,594
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5522 Lexington Ave
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