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5237 Lexington Ave, Los Angeles, CA 90029
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5237 Lexington Ave Los Angeles, CA 90029

$1,200,000 Sold Price as of 08/17/2023
  • 7 Beds
  • 4 Baths
  • 2,863 Sq.Ft.
Sold
$1,200,000 Sold Price as of 08/17/2023 Refinance Your Mortgage
Map preview of 5237 Lexington Ave, Los Angeles, CA 90029

Property Overview: 5237 Lexington Ave Los Angeles, CA has 7 bedrooms, 4 bathrooms, 2,863 living square feet and 7,528 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Situated in a small pocket between Silver Lake, Los Feliz, Hollywood, Hancock Park, and Koreatown, the property sits squarely in the path of gentrification as the surrounding submarkets have each enjoyed substantial improvements over the past decade. This revitalization, and the corresponding rent growth, could soon reach Lexington Avenue, putting the property in prime position to see increased income to the benefit of a new investor. In fact, all three units may be delivered vacant at the close of escrow, which could allow a new owner to immediately set all rents at maximum market amounts. While the front duplex was constructed in 1910, the rear two-bedroom unit and garages were built in 2011 and are not subject to Los Angeles rent control (Buyer to verify). This rear building includes two attached garages, central air/heat, full copper plumbing, and an in-unit washer/dryer. Situated near both the 101 Freeway and multiple Metro Stations, the property allows tenants easy transportation access. Residents are also just a short distance from several of Los Angeles' trendiest neighborhoods, including Franklin Village, Virgil Village, and Larchmont Village. Tenants will be just minutes from East Hollywood's hippest shops and restaurants, including Figaro Bistro, Maru Coffee, Cafecito Organico, All Day Baby, and Hyperion Public.

Listed by Roderick 'Rick' Raymundo | BRE #01357019 | Marcus & Millichap
Last checked: 6 minutes ago | Last updated: September 11th, 2023 | Source CRMLS | DOM: 56

Home details

Lot Sq. Ft
7,528
HOA Dues
$0/mo
Year built
1910
Garage
2 Car
Property Type:
Multi Family
Status
Sold
MLS#
23280485
City
Los Angeles
County
Los Angeles
Time on Site
330 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $2,700
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,650
  • Total Rent: $4,650
  • Pro Forma/Market Rent: $4,650
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.7%
  • Gross Rent Multiplier: 14.96
  • Gross Scheduled Income: --
  • Net Operating Income: $67,391
  • Gross Operating Income: $93,062
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5237 Lexington Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 3
  • Parcel Number: 5537011012
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: We are pleased to announce the opportunity to purchase 5237 Lexington Avenue, a multifamily triplex located in the East Hollywood neighborhood of Los Angeles, CA, near the intersection of Santa Monica Boulevard and Western Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 5237 Lexington Ave

Last sold for $1,200,000 on August 17th, 2023

  • August, 2023

  • Aug 17, 2023

    Date

    Sold

    CRMLS: 23280485

    $1,200,000

    Price

  • Jun 13, 2023

    Date

    Active

    CRMLS: 23280485

    $1,435,000

    Price

Tax History for 5237 Lexington Ave

Assessed Value (2020): $217,389
Year Land Value Improved Value Assessed Value
2020 $56,018 $161,371 $217,389

Home Value Compared to the Market

This property vs the competition

5237 Lexington Ave sold on August 17, 2023 for 20.59% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $501.22 per/sqft which puts the price per square foot 33.61% lower than the current median sale per square foot for the city of Los Angeles.

About 5237 Lexington Ave

Detailed summary of property

5237 Lexington Ave is a multi family that recently sold in Los Angeles, CA 90029. This multi family property offered 7 bedrooms, 4 bathrooms, roughly 2,863 living square feet, and sits on an approximately 7,528 square foot lot. 5237 Lexington Ave was first listed on ArdentRealEstateGroup.com on June 14, 2023. The homeowner sold the property for $1,200,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 20.59% higher than the current median priced home. Local homes that are currently for sale include 4500 Gilbert Pl, 508 N Kingsley Dr and 847 Ridgewood Pl. While the average home in Los Angeles, CA is selling in 93 days, 5237 Lexington Ave has a days on market of 56 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 5237 Lexington Ave Los Angeles, CA 90029 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5237 Lexington Ave

Public county record property details
Beds
7
Baths
3
Year built
1910
Sq. Ft.
2,863
Lot Size
7,528
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
3
APN
5537-011-012

The source for these homes facts are from public records.

90029 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,195,000
Median List Price/Sq.Ft.
$802
Median Sold Price
$1,049,000
Median Sold Price/Sq.Ft.
$1,042
Total Inventory
34
Median Sale to List Price %
95.36%
Avg Days on Market
38
Loan Type
Conventional (60%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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