5642 Lexington AVE #5, Los Angeles, CA 90038
5642 Lexington AVE #5, Los Angeles, CA 90038
5642 Lexington AVE #5, Los Angeles, CA 90038
36
See all 36 photos
$1,995,000
Est. payment /mo
Save
9 Beds
8 Baths
6,094 SqFt
New

5642 Lexington AVE #5 Los Angeles, CA 90038

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Herb Rim

Herb Rim

+1(818) 699-9179

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,094 sqft

Price per Sqft $327

MLS Listing ID 26989249

Bedrooms 9

HOA Y/N No

Year Built 1956

Lot Size 7,100 Sqft

Property Description

Large 6,094 SF, 8-unit value-add apartment building in the heart of Hollywood, offering strong day-one cash flow at a current 5% cap rate with upside to approximately 7.5% on pro forma rents. Attractively priced at only $249,000 per unit and $327/SF, the property offers a diverse unit mix of 6 spacious one-bedroom units and 2 two-bedroom units. The building sits on a large 7,099 SF LAR3 lot, with plans to add 8 detached ADUs, potentially doubling the property's unit count. Assuming $715,000 in ADU construction costs at $250/SF, the projected all-in basis is only $163,000 per unit and $291/SF, with an 11.7% cap rate on current rents and 14.1% on pro forma rents after completion. Most recently, the front upstairs unit was completely remodeled with a high-end modern aesthetic, featuring new cabinetry, vinyl flooring, recessed lighting, a renovated bathroom, an updated HVAC system, an in-unit washer/dryer, and additional upgrades. The property's exterior has also undergone extensive renovations and features approximately 9 on-site parking spaces, storage, and an updated laundry room. Gas and electricity are metered separately, helping to minimize owner-paid operating expenses. Prime Hollywood location directly behind Echelon Studios Hollywood, an approximately $450 million, 610,000 SF creative entertainment campus located on a five-acre site at 5601 Santa Monica Boulevard, and just blocks from Netflix and Paramount Studios, placing the property in the heart of Hollywood's entertainment and media district.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Heating Wall Furnace

Fireplace No

Appliance Refrigerator

Exterior

Parking Features Uncovered

Total Parking Spaces 8

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5536007010

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Armin Soleimani Global Platinum Properties, Inc. #01846872

Go tour this home

5642 Lexington AVE #5

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Herb Rim

Herb Rim

Realtor License ID: 01870707

+1(818) 699-9179

Name
Phone*
Message

By checking this box, I agree to receive recurring marketing communication from Herb Rim, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

By checking this box, I agree to the Terms of Service and Privacy Policy of this website.

Experience Matters

Our team offers expert guidance and personalized service to make buying, selling, or investing in property smooth and stress-free. With deep market knowledge and a commitment to clear communication, we focus on achieving your real estate goals efficiently and effectively.

Trust

the best

  • 100
    Homes for Sale
  • $100000
    Sales Price
  • 100
    Total Listings
  • $100000
    Average Listing Price
};