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    5522 Lexington Ave

    Los Angeles, CA 90038
    • $2,000,000
    • STATUS: Active
    • ON SITE: 30 days
    • ID#: 20-654496
    $2,000,000
    • 8
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,133
      SQFT
    • $326
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:
    Area:

    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. 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. The continued gentrification of the surrounding area along with the significant value-add potential for a new owner to continue renovating the remaining seven units and achieve superior future returns moving forward make 5522 Lexington an excellent acquisition opportunity.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-02T23:42:33.277. 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.trulinerealty.com/homes/111546934
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    5522 Lexington Ave Los Angeles, CA 90038

    • Price: $2,000,000
    • Status: Active
    • ID#: 20-654496
    8
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,133
    SQFT
    $326
    $/SQFT
    1962
    Built
    Neighborhood:
    Hollywood
    County:
    Los Angeles
    Area:
    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. 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. The continued gentrification of the surrounding area along with the significant value-add potential for a new owner to continue renovating the remaining seven units and achieve superior future returns moving forward make 5522 Lexington an excellent acquisition opportunity.
    Exterior Features

    Lot Size Area 7495 Other Structures None Parking Garage Covered Parking Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Total Parking 10

    Interior Features

    Baths Total 10.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 519328 Gross Income 135013 Gross Operating Income 130963 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 77479.00 Number Of Buildings 1 Number Of Units 10 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Assessor Total Annual Expense 53484 Type Of Units Residential Year Built Source Assessor Zoning R4-1Vl

    Listing provided courtesy of Sean Rosenzweig DRE#01406343 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-02T23:42:33.277. 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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    TruLine Realty
    8644 Wilshire Blvd. Suite 204
    Beverly Hills CA, 90211