Lexington Ave Apartments | 5737 Lexington Ave
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Lexington Ave Apartments 5737 Lexington Ave
20 Unit Apartment Building $3,050,000 ($152,500/Unit) 5.92% Cap Rate Los Angeles, CA 90038
Investment Highlights
- Marcus & Millichap is pleased to present 5737 Lexington Ave, a 20-unit multifamily investment opportunity in Hollywood
- At the asking price, the property is being offered at a 5.92% CAP rate at 9.12 GRM on current income with an additional 16% rental upside
- The building is separately metered for electricity and has an on-site laundry room with two washers and two dryers
- The property features a unit mix of 20 singles
- The property has professional landscaping and a secured, gated entrance with intercom access; significant cap ex has been invested by ownership
Executive Summary
Marcus & Millichap is pleased to present 5737 Lexington Ave, a 20-unit multifamily investment opportunity in Hollywood located north of Santa Monica Blvd between N Van Ness Ave & Wilton Pl.
The property features a unit mix of 20 singles; renovated units include hardwood floors, updated appliances, tile bathrooms, new
cabinetry, and ceiling fans.
At the asking price, the property is being offered at a 5.92% CAP rate at 9.12 GRM on current income with an additional 16% rental upside achievable as units turn through continued interior renovations.
The property has professional landscaping and a secured, gated entrance with intercom access; significant cap ex has been invested by ownership into the systems and common areas including new security camera system, intercom, common area paint & lighting fixtures, lobby tile flooring, refinished hallway flooring, outdoor furniture, exterior façade paint, and water heater. The building is separately metered for electricity and has an on-site laundry room with two washers and two dryers.
High Walk Score of 87, the property is less than a mile from the Metro Red Rail Line, and walking distance to Metro Local Lines along Santa Monica Blvd & Western Ave.This neighborhood of Koreatown is ideally located with a short commute to Los Feliz, West Hollywood, and Koreatown; easy access to the 101 Freeway via Western Ave.
The property features a unit mix of 20 singles; renovated units include hardwood floors, updated appliances, tile bathrooms, new
cabinetry, and ceiling fans.
At the asking price, the property is being offered at a 5.92% CAP rate at 9.12 GRM on current income with an additional 16% rental upside achievable as units turn through continued interior renovations.
The property has professional landscaping and a secured, gated entrance with intercom access; significant cap ex has been invested by ownership into the systems and common areas including new security camera system, intercom, common area paint & lighting fixtures, lobby tile flooring, refinished hallway flooring, outdoor furniture, exterior façade paint, and water heater. The building is separately metered for electricity and has an on-site laundry room with two washers and two dryers.
High Walk Score of 87, the property is less than a mile from the Metro Red Rail Line, and walking distance to Metro Local Lines along Santa Monica Blvd & Western Ave.This neighborhood of Koreatown is ideally located with a short commute to Los Feliz, West Hollywood, and Koreatown; easy access to the 101 Freeway via Western Ave.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$384,000
|
$37.31
|
| Other Income |
$2,208
|
$0.21
|
| Vacancy Loss |
$19,365
|
$1.88
|
| Effective Gross Income |
$366,843
|
$35.64
|
| Taxes |
$36,600
|
$3.56
|
| Operating Expenses |
$102,583
|
$9.97
|
| Total Expenses |
$139,183
|
$13.52
|
| Net Operating Income |
$227,660
|
$22.12
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $384,000 |
| Annual Per SF | $37.31 |
| Other Income | |
|---|---|
| Annual | $2,208 |
| Annual Per SF | $0.21 |
| Vacancy Loss | |
|---|---|
| Annual | $19,365 |
| Annual Per SF | $1.88 |
| Effective Gross Income | |
|---|---|
| Annual | $366,843 |
| Annual Per SF | $35.64 |
| Taxes | |
|---|---|
| Annual | $36,600 |
| Annual Per SF | $3.56 |
| Operating Expenses | |
|---|---|
| Annual | $102,583 |
| Annual Per SF | $9.97 |
| Total Expenses | |
|---|---|
| Annual | $139,183 |
| Annual Per SF | $13.52 |
| Net Operating Income | |
|---|---|
| Annual | $227,660 |
| Annual Per SF | $22.12 |
Property Facts
| Price | $3,050,000 | Apartment Style | Low Rise |
| Price Per Unit | $152,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.92% | Building Size | 10,292 SF |
| Gross Rent Multiplier | 9.12 | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $3,050,000 |
| Price Per Unit | $152,500 |
| Sale Type | Investment |
| Cap Rate | 5.92% |
| Gross Rent Multiplier | 9.12 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,292 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Property Manager on Site
- Gated
- Online Services
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 515 |
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Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 5536-005-005 | Total Assessment | $3,609,028 (2024) |
| Land Assessment | $2,843,478 (2024) | Annual Taxes | $36,600 ($3.56/SF) |
| Improvements Assessment | $765,550 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
5536-005-005
Land Assessment
$2,843,478 (2024)
Improvements Assessment
$765,550 (2024)
Total Assessment
$3,609,028 (2024)
Annual Taxes
$36,600 ($3.56/SF)
Tax Year
2025
zoning
| Zoning Code | LAR3 |
| LAR3 |
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Lexington Ave Apartments | 5737 Lexington Ave
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