5716 Lexington Avenue

    Los Angeles, CA 90038
    • $3,190,000
    • STATUS: ACTIVE
    • ON SITE: 140 days
    • ID#: 301765601
    UPDATED: 61 min ago
    $3,190,000
    • 10
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1993
    County:

    School Ratings & Info

    Description

    **PRICE IMPROVEMENT** 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 Bath. All units are separately metered for gas and electric. Only one unit #2 is a Sec 8 rental, the other 7 units the contract rental rates are within 10% of the market rates thus achieving of market rentals are obtainable. The building is comprised of one two-story building above a subterranean, gated and secure parkin **PRICE IMPROVEMENT** 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 Bath. All units are separately metered for gas and electric. Only one unit #2 is a Sec 8 rental, the other 7 units the contract rental rates are within 10% of the market rates thus achieving of market rentals are obtainable. The building is comprised of one two-story building above a subterranean, gated and secure parking structure with 16 spaces. Additional amenities include a laundry room with building owned washer/dryer and control access entry with the units. The property has been very well maintained by the current long-term owner, 3 units have had high-end renovations and upgrades consisting of new kitchens, bathrooms, flooring and fixtures. The building presents an opportunity for an investor to reposition this asset with an upside in the rental income of approximately 18.0%. Property is being sold in its "as is" condition.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.triolorealty.com/homes/100688280

    5716 Lexington Avenue Los Angeles, CA 90038

    • Price: $3,190,000
    • Status: ACTIVE
    • Updated: 61 min ago
    • ID#: 301765601
    10
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1993
    Built
    Neighborhood:
    Los Angeles (90038)
    County:
    Los Angeles
    Area:
    Los Angeles (90038)
    Property Description
    **PRICE IMPROVEMENT** 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 Bath. All units are separately metered for gas and electric. Only one unit #2 is a Sec 8 rental, the other 7 units the contract rental rates are within 10% of the market rates thus achieving of market rentals are obtainable. The building is comprised of one two-story building above a subterranean, gated and secure parkin **PRICE IMPROVEMENT** 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 Bath. All units are separately metered for gas and electric. Only one unit #2 is a Sec 8 rental, the other 7 units the contract rental rates are within 10% of the market rates thus achieving of market rentals are obtainable. The building is comprised of one two-story building above a subterranean, gated and secure parking structure with 16 spaces. Additional amenities include a laundry room with building owned washer/dryer and control access entry with the units. The property has been very well maintained by the current long-term owner, 3 units have had high-end renovations and upgrades consisting of new kitchens, bathrooms, flooring and fixtures. The building presents an opportunity for an investor to reposition this asset with an upside in the rental income of approximately 18.0%. Property is being sold in its "as is" condition.
    Exterior Features

    Pool N/K

    Interior Features

    Stories 2 Story Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 2 Total Baths Unit4 2

    Property Features

    Actual Cap Rate 3.9 Annual Expense Actual 60734 Buildings 1 Gross Rent Multiplier Actual 17.9 Gross Scheduled Income Actual 203400 Tenant Pays Cable Tv Terms Cash Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 2950.0 Unit2 Rent Actual 1200.0 Unit3 Rent Actual 1950.0 Unit4 Rent Actual 2500.0 Water Meter On Property Zoning Lar3

    Listing provided courtesy of Coldwell Banker Platinum Prop.. Listing information © 2020 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
    Keller Williams - Triolo Realty Group
    12780 High Bluff Drive, Suite 130
    San Diego CA, 92130