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5828-5832 Lexington Ave 6 Unit Apartment Building $1,195,000 ($199,167/Unit) 3.72% Cap Rate Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- 6 Units
- Prime Hollywood location in an up-and-coming neighborhood
- Close proximity to studios, restaurants, nightlife, and retail corridors
- (1) 2+1 House, (Mix of 1+1 and 2+1 units in rear, total
- Surrounded by new development and revitalization projects
- Easy access to major freeways and public transportation
EXECUTIVE SUMMARY
5828 Lexington Ave offers an incredible Hollywood investment opportunity with a 6-unit property on a large 7,500 SF lot. The front house features a charming 2-bedroom, 1-bath residence, complemented by five additional units in the rear comprised of a mix of one-bedroom and two-bedroom apartments. With a total building size of 3,870 SF, this property represents one of the lowest cost entry points in the area at just $1,195,000, making it one of the cheapest price-per-unit offerings available.
Currently under market rents, the property provides investors with an attractive 68% rental upside. The LAR3 zoning also adds long-term redevelopment potential. This creates a value-add opportunity for investors to improve the property and increase income.
Currently under market rents, the property provides investors with an attractive 68% rental upside. The LAR3 zoning also adds long-term redevelopment potential. This creates a value-add opportunity for investors to improve the property and increase income.
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PROPERTY FACTS
| Price | $1,195,000 | Apartment Style | Low-Rise |
| Price Per Unit | $199,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 3.72% | Building Size | 3,801 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.08 | No. Stories | 1 |
| No. Units | 6 | Year Built | 1946 |
| Property Type | Multifamily | Parking Ratio | 1.81/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3-1 - Multiple Residential | ||
| Price | $1,195,000 |
| Price Per Unit | $199,167 |
| Sale Type | Investment |
| Cap Rate | 3.72% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.08 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,801 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1946 |
| Parking Ratio | 1.81/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3-1 - Multiple Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Heating
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 5534-018-021 | Improvements Assessment | $227,578 |
| Land Assessment | $116,273 | Total Assessment | $343,851 |
PROPERTY TAXES
Parcel Number
5534-018-021
Land Assessment
$116,273
Improvements Assessment
$227,578
Total Assessment
$343,851
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5828-5832 Lexington Ave
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