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5828 Lexington Ave

Los Angeles, CA 90038
  • $1,790,000
  • STATUS: Active
  • ON SITE: 15 Days
  • MLS #: 21-105621
UPDATED: 60 min ago
$1,790,000
  • 9
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,870
    SQFT
  • $463
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1920
County:
Area:

School Ratings & Info

Description

[ Offered next door to already listed 5836 Lexington Ave, a RARE DOUBLE LOT opportunity. Both adjacent lots total 15,000sf of R3 Zoning incorporated within the Hollywood Opportunity Zone, along with TOC Tier 2 Bonus Density ] 5828 Lexington Ave is a unique, 6 Unit apartment building in Hollywood comprised of a spacious front house, and 5 apartment units in the rear. The front house is a 2+1 unit, while the back apartment units consist of 2 (2+1) units and 3 (1+1) units. Tenant amenities include on-site, tuck-under parking (seller completed required seismic retrofit), and secure gated driveway. The new owner will be able to capture the remaining 84% upside left throughout all rents to double the income at market, tripling the NOI. [ A combined 65% remaining upside on both 5828 and 5836 Lexington. Total Proforma achieves 1.5x the current NOI. SEE 5836 Lexington for details]

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-02T07:42:24.887. 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.searchdesertrealestate.com/homes/123326601
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5828 Lexington Ave Los Angeles, CA 90038

  • Price: $1,790,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 60 min ago
  • MLS #: 21-105621
9
Beds
0
Baths
0
½ Baths
0.17
Acres
3,870
SQFT
$463
$/SQFT
1920
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
[ Offered next door to already listed 5836 Lexington Ave, a RARE DOUBLE LOT opportunity. Both adjacent lots total 15,000sf of R3 Zoning incorporated within the Hollywood Opportunity Zone, along with TOC Tier 2 Bonus Density ] 5828 Lexington Ave is a unique, 6 Unit apartment building in Hollywood comprised of a spacious front house, and 5 apartment units in the rear. The front house is a 2+1 unit, while the back apartment units consist of 2 (2+1) units and 3 (1+1) units. Tenant amenities include on-site, tuck-under parking (seller completed required seismic retrofit), and secure gated driveway. The new owner will be able to capture the remaining 84% upside left throughout all rents to double the income at market, tripling the NOI. [ A combined 65% remaining upside on both 5828 and 5836 Lexington. Total Proforma achieves 1.5x the current NOI. SEE 5836 Lexington for details]
Exterior Features

Cross Streets Lexington/Bronson Lot Size Area 7500 Other Structures None Parking Garage DrivewayCovered Parking Total Parking 7

Interior Features

Baths Total 6.00 Cooling Wall Unit(S) Equipment None Heating Wall

Property Features

Assessed Total Value 314413 Gross Income 83604 Gross Operating Income 81096 Land Lease Type Fee Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 39230.00 Number Of Buildings 2 Number Of Units 6 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 41866 Type Of Units Apartments Year Built Source Vendor Enhanced 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 2021-12-02T07:42:24.887. 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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The John Jay Group - Bennion Deville Homes
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