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5716 Lexington Avenue

Los Angeles (City), CA 90038
  • $3,285,000
  • STATUS: Pending
  • ON SITE: 33 Days
  • ID#: PW21242578
Pending
$3,285,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1993
County:

School Ratings & Info

Listing Agent: James Mann of Coldwell Banker Platinum Prop.


Description

This 8 Units is located in the heart of Hollywood neighborhood. The property was built in 1993, consisting of four (4) two Bdrms/1.5 Bath and four (4) Three Bdrms/ 2 Baths. All units are separately metered for gas & electric. Only one unit- #2 is a Sec 8 rental. The other 7 units the current rental rates are within 10% of the market rates. The building is comprised of one two-story building above a subterranean garage, gated & secure parking structure with 16 spaces. Additional amenities include of a laundry room with building owner washer/dryer and control access entry from the units. The property has been very well maintained by the current long-term owner, 3 units have had high-end renovation with upgrades consisting of kitchen appliances, bathrooms, flooring & fixtures. This building presents an opportunity for an investor to maintain a very stable income stream; existing tenants have lived there on the average of over 6 years, rents have been maintained near market rate. Property is being sold in it "as in condition.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-08T00:26:55.663. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/123043987
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5716 Lexington Avenue Los Angeles (City), CA 90038

  • Price: $3,285,000
  • Status: Pending
  • On Site: 33 Days
  • ID#: PW21242578
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1993
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
This 8 Units is located in the heart of Hollywood neighborhood. The property was built in 1993, consisting of four (4) two Bdrms/1.5 Bath and four (4) Three Bdrms/ 2 Baths. All units are separately metered for gas & electric. Only one unit- #2 is a Sec 8 rental. The other 7 units the current rental rates are within 10% of the market rates. The building is comprised of one two-story building above a subterranean garage, gated & secure parking structure with 16 spaces. Additional amenities include of a laundry room with building owner washer/dryer and control access entry from the units. The property has been very well maintained by the current long-term owner, 3 units have had high-end renovation with upgrades consisting of kitchen appliances, bathrooms, flooring & fixtures. This building presents an opportunity for an investor to maintain a very stable income stream; existing tenants have lived there on the average of over 6 years, rents have been maintained near market rate. Property is being sold in it "as in condition.
Exterior Features

Lot Features 26-30 Units/Acre Number Of Separate Electric Meters 9 Parking Total 16 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 4.5 Common Interest None Community Features Street Lights Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 205212 Gross Scheduled Income 209400 Insurance Expense 3200 Land Lease YN No Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 146818 New Construction YN No New Taxes Expense 37000 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 9 Operating Expense 62582 Other Expense 4780 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 4656 Water Sewer Expense 10200 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-08T00:26:55.663. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: James Mann of Coldwell Banker Platinum Prop.