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5661 Lexington Ave 5661 Lexington Ave 21 Unit Apartment Building $3,900,000 ($185,714/Unit) 5.50% Cap Rate Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- Prime Location: Close to entertainment and business hubs in Hollywood.
- Parking Advantage: One parking space per unit
- Income Potential: Approximately 32% upside in rents.
- Upgraded Features: Copper plumbing throughout, a newer roof (2019), and updated windows (2015)
- Recent Improvements: Newer cement driveway and parking area (2016), earthquake retrofit completed (2016)
- Additional Revenue: Leased laundry and dry machines generate approximately $250 per month
EXECUTIVE SUMMARY
Major $300,000 Reduction. Now, $3,900,000
Total Commercial Inc. is pleased to present an exceptional investment opportunity in the heart of Hollywood. This well-maintained 21-unit apartment building is
situated near key attractions such as the STEM Academy of Hollywood, Netflix
HOME Theater, and the vibrant Hollywood district.
Please email me at Brian@TcomApts.com for Operating Memorandum.
Total Commercial Inc. is pleased to present an exceptional investment opportunity in the heart of Hollywood. This well-maintained 21-unit apartment building is
situated near key attractions such as the STEM Academy of Hollywood, Netflix
HOME Theater, and the vibrant Hollywood district.
Please email me at Brian@TcomApts.com for Operating Memorandum.
PROPERTY FACTS
| Price | $3,900,000 | Building Class | C |
| Price Per Unit | $185,714 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 12,000 SF |
| Cap Rate | 5.50% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.7 | No. Stories | 2 |
| No. Units | 21 | Year Built | 1968 |
| Property Type | Multifamily | Parking Ratio | 1.75/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4-2, Los Angeles - In Opportunity Zone | ||
| Price | $3,900,000 |
| Price Per Unit | $185,714 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 10.7 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4-2, Los Angeles - In Opportunity Zone |
AMENITIES
UNIT AMENITIES
- Heating
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Security System
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 21 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 5536-004-034 | Improvements Assessment | $1,428,000 |
| Land Assessment | $2,040,000 | Total Assessment | $3,468,000 |
PROPERTY TAXES
Parcel Number
5536-004-034
Land Assessment
$2,040,000
Improvements Assessment
$1,428,000
Total Assessment
$3,468,000
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Total Commercial, Inc.
5661 Lexington Ave | 5661 Lexington Ave
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