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    4848 Lexington Ave

    Los Angeles, CA 90029
    • $6,250,000
    • STATUS: Active Under Contract
    • ON SITE: 107 days
    • ID#: 20-639874
    Under Contract
    UPDATED: 33 min ago
    $6,250,000
    • 7
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,874
      SQFT
    • $299
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:
    Area:

    School Ratings & Info

    Description

    Built in 1927, this 30-unit property totals 20,874 SF located in East Hollywood, between Fountain Ave & Santa Monica Blvd providing easy access to Hollywood and Silverlake. This offering presents an investor the opportunity to acquire a well maintained building with a stable income, a 15% loss-to-lease, that can achieve a pro forma CAP rate of 5.73% through further renovations when the units turn. The building features a unit mix of 22 singles and 8 one-bedrooms. The property is being offered at a13.63 GRM on current income and a low price per unit of $208,333. The property is located within a newly established QualifiedOpportunity Zone for investment, established by the Tax Cuts andJobs Act, Section 1400Z. Five units are currently vacant, allowing an investor to achieve market rents immediately. Ease of management as gas and electric are separately metered. Community laundry...

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-01-16T15:43:00.09. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.lydiagable.com/homes/110540627
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    4848 Lexington Ave Los Angeles, CA 90029

    • Price: $6,250,000
    • Status: Active Under Contract
    • Updated: 33 min ago
    • ID#: 20-639874
    7
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    20,874
    SQFT
    $299
    $/SQFT
    1927
    Built
    Neighborhood:
    Hollywood
    County:
    Los Angeles
    Area:
    Hollywood
    Property Description
    Built in 1927, this 30-unit property totals 20,874 SF located in East Hollywood, between Fountain Ave & Santa Monica Blvd providing easy access to Hollywood and Silverlake. This offering presents an investor the opportunity to acquire a well maintained building with a stable income, a 15% loss-to-lease, that can achieve a pro forma CAP rate of 5.73% through further renovations when the units turn. The building features a unit mix of 22 singles and 8 one-bedrooms. The property is being offered at a13.63 GRM on current income and a low price per unit of $208,333. The property is located within a newly established QualifiedOpportunity Zone for investment, established by the Tax Cuts andJobs Act, Section 1400Z. Five units are currently vacant, allowing an investor to achieve market rents immediately. Ease of management as gas and electric are separately metered. Community laundry...
    Exterior Features

    Direction Faces North Lot Location City Lot Size Area 7796 Other Structures None Parking Garage None Total Parking 0

    Interior Features

    Bathroom Features Tile Baths Total 30.00 Cooking Appliances Oven-Gas Cooling Air Conditioning Equipment Ceiling Fan Flooring Hardwood Heating Other Interior Features Cathedral-Vaulted Ceilings Laundry Community Windows Plantation Shutters

    Property Features

    Assessed Total Value 1410319 Gross Income 472104 Gross Operating Income 457971 Like Units1 23 Like Units2 7 Net Operating Income 292711.00 Number Of Buildings 1 Number Of Units 30 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 165230 Type Of Units Apartments Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Rd1.5-1Xl

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-01-16T15:43:00.09. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377