5661 Lexington Ave 5661 Lexington Ave
21 Unit Apartment Building $4,200,000 ($200,000/Unit) 5% Cap Rate Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- Prime Location: Close to entertainment and business hubs in Hollywood. In Opportunity Zone
- Parking Advantage: Rare for the area—one parking space per unit (21 total spaces).
- Income Potential: Approximately 32% upside in rents.
- Upgraded Features: Copper plumbing throughout, a newer roof (2019), and updated windows (2015).
- Recent Improvements: Newer cement driveway and parking area (2016), earthquake retrofit completed (2016). Newer water heater (2017).
- Additional Revenue: Leased laundry and dry machines generate approximately $250 per month.
EXECUTIVE SUMMARY
Total Commercial Inc. is pleased to present an exceptional investment opportunity in the heart of Hollywood. This well-maintained 21-unit apartment building is situated near key attractions such as the STEM Academy of Hollywood, Netflix HOME Theater, and the vibrant Hollywood district.
Please email me at Brian@TcomApts.com to get the Operating Memorandum.
Please email me at Brian@TcomApts.com to get the Operating Memorandum.
PROPERTY FACTS
| Price | $4,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 11.65 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Heating
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Security System
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 21 | - | - |
1 of 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 5536-004-034 | Improvements Assessment | $1,400,000 |
| Land Assessment | $2,000,000 | Total Assessment | $3,400,000 |
ZONING
| Zoning Code | R4-2, Los Angeles (In Opportunity Zone) |
