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5828 Lexington Avenue

Los Angeles (City), CA 90038
  • $1,790,000
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: 21105621
UPDATED: 71 min ago
$1,790,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1920
County:

School Ratings & Info

Listing Agent: Chase Simonton of Re/Max One


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 California Regional Multiple Listing Service, Inc. as of 2021-12-05T18:25:55.747. 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/123328112
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5828 Lexington Avenue Los Angeles (City), CA 90038

  • Price: $1,790,000
  • Status: Active
  • On Site: 18 Days
  • Updated: 71 min ago
  • ID#: 21105621
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1920
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - 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

Parking Features CoveredDriveway Parking Total 7

Interior Features

Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Gross Income 83604 Land Lease YN No Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 39230 New Construction YN No Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Vacancy Allowance Rate 0 Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-05T18:25:55.747. 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: Chase Simonton of Re/Max One