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6815 Lexington Ave 5 Unit Apartment Building $1,495,000 ($299,000/Unit) 5.18% Cap Rate Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- All units are separately metered for gas and electricity.
- Approximately 10% of potential rental upside.
- Corner lot with 2 independent structures.
EXECUTIVE SUMMARY
6815 Lexington Avenue is a 5 unit multifamily property in Hollywood that is on the market for the first time since 1999. The property consists of a four unit structure and a separate, standalone house that was recently renovated and fully legalized as an ADU. Although it was originally built in 1923, the property has been professionally maintained and managed for over 25 years. The five units are situated on a 4,718 SF lot at the corner of Lexington Ave. and Citrus Ave., within walking distance to Highland and Santa Monica Blvd. Its central location ensures strong rental demand and upside for the foreseeable future.
PROPERTY FACTS
| Price | $1,495,000 | Property Subtype | Apartment |
| Price Per Unit | $299,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 5.18% | Building Size | 3,369 SF |
| Gross Rent Multiplier | 12.9 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1923 |
| Property Type | Multifamily | Parking Ratio | 1.48/1,000 SF |
| Price | $1,495,000 |
| Price Per Unit | $299,000 |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Gross Rent Multiplier | 12.9 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 3,369 SF |
| No. Stories | 2 |
| Year Built | 1923 |
| Parking Ratio | 1.48/1,000 SF |
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Walk Score®
Walker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 5532-006-012 | Improvements Assessment | $200,959 |
| Land Assessment | $937,845 | Total Assessment | $1,138,804 |
PROPERTY TAXES
Parcel Number
5532-006-012
Land Assessment
$937,845
Improvements Assessment
$200,959
Total Assessment
$1,138,804
ZONING
| Zoning Code | R-4 |
| R-4 |
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6815 Lexington Ave
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