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5540 Lexington Ave, Los Angeles, CA 90038
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5540 Lexington Ave Los Angeles, CA 90038

$1,885,000 Sold Price as of 05/09/2024
  • 8 Beds
  • 4 Baths
  • 5,334 Sq.Ft.
Sold
$1,885,000 Sold Price as of 05/09/2024 Refinance Your Mortgage
Map preview of 5540 Lexington Ave, Los Angeles, CA 90038

Property Overview: 5540 Lexington Ave Los Angeles, CA has 8 bedrooms, 4 bathrooms, 5,334 living square feet and 7,494 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: PRIME LOCATION! HUGE PRICE REDUCTION! STRAIGHT SALE, NOT SUBJECT TO AN EXCHANGE! 5,334,SQ FT PER ASSESSOR / HUGE BUILDING - CORNER PROPERTY! EACH UNIT INCLUDES THEIR OWN PRIVATE LAUNDRY ROOM WITH SINK, WHICH IS QUITE RARE! TRULY A SUPERIOR INVESTMENT! AND WITH R-4 T-4 ZONING / PERFECT DEVELOPMENT SITE THAT REPORTED DOES NOT REQUIRE PARKING! DEVELOPMENTS NOW ONGOING IN THIS IMMEDIATE AREA! DEVELOPERS MAY GAIN INCOME DURING THE CONSTRUCTION PROCESS WITH THE CITY! All Units Month to Month. Separately metered for Electric & Gas plus a Huge Parking Court with Garages. 7.494 Square Feet of Land. Located close to a variety of Dining / Hot Spots, Schools, Transportation, and the Freeway not too far away. This is a smart Investment Opportunity for a somewhat rare R4 Zone Corner Property! Thank you!

Listed by Bruce Jay | BRE #00559166 | Bruce Jay Associates
Last checked: 4 minutes ago | Last updated: May 9th, 2024 | Source CRMLS | DOM: 1073

Home details

Lot Sq. Ft
7,494
HOA Dues
$0/mo
Year built
1917
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21702616
City
Los Angeles
County
Los Angeles
Time on Site
1290 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,967
  • Total Rent: $1,967
  • Pro Forma/Market Rent: $2,950
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,042
  • Total Rent: $1,042
  • Pro Forma/Market Rent: $2,950
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,127
  • Total Rent: $1,127
  • Pro Forma/Market Rent: $2,950
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,127
  • Total Rent: $1,127
  • Pro Forma/Market Rent: $2,950
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2%
  • Gross Rent Multiplier: 30
  • Gross Scheduled Income: --
  • Net Operating Income: $33,139
  • Gross Operating Income: $63,139
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5540 Lexington Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Parking Space, Garage
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 5536008011
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Use Google Maps...West of Western, North of Santa Monica
View more facts & features

Local Los Angeles Agent

Sale History for 5540 Lexington Ave

Last sold for $1,885,000 on May 9th, 2024

  • July, 2021

  • Jul 23, 2021

    Date

    Price Change

    CRMLS: 21702616

    $2,340,000

    Price

  • Mar 9, 2021

    Date

    Active

    CRMLS: 21702616

    $2,350,000

    Price

  • March, 2021

  • Mar 9, 2021

    Date

    Canceled

    CRMLS: 19447204

    $2,350,000

    Price

  • Aug 17, 2020

    Date

    Active

    CRMLS: 19447204

    $2,350,000

    Price

  • Nov 26, 2019

    Date

    Active Under Contract

    CRMLS: 19447204

    $2,350,000

    Price

  • Jul 27, 2019

    Date

    Pending

    CRMLS: 19447204

    $2,350,000

    Price

  • Apr 7, 2019

    Date

    Price Change

    CRMLS: 19447204

    $2,350,000

    Price

  • Mar 23, 2019

    Date

    Active

    CRMLS: 19447204

    $2,250,000

    Price

  • Listing provided courtesy of CRMLS

    R4 T4, NEED WE SAY MORE?? Check with City, poss New Construction without parking = More Units!... ...HIGH DEMAND LOCATION! DEVELOPMENT SITE WITH NEIGHBORING PROPERTY OR A GREAT 4 UNIT INVESTMENT!!! OWNER NEXT DOOR MAY COOPERATE!! THIS IS ONE LOT + POTENTIALLY THE NEIGHBOR LOT MAKES THIS A REMARKABLE OFFERING...R4 DEVELOPMENT SITE...BUY NOW, ENJOY THE INCOME, DEVELOP WHEN YOU ARE READY TO DO SO!! DO NOT DISTURB OCCUPANTS.....SOLD FOR LAND VALUE.....The LEXINGTON DEVELOPMENT SITE is a Remarkable Opportunity.....Owner next door may consider selling as well!.....Reports indicate R4-1VL Zoning TIER 3 on 7.494 Square Feet of Land.....Currently a 4 Unit Apartment Building, all month to month tenancies.....Located close to a Wide Variety of Dining & Hot Spots, as well as Private and Public Schools. Priced to Sell at just a tad over $300 Per Square Foot! Great Opportunity for an R4 Building Site!

  • March, 2019

  • Mar 23, 2019

    Date

    Canceled

    CRMLS: 18417688

    $2,350,000

    Price

  • Dec 28, 2018

    Date

    Active

    CRMLS: 18417688

    $2,350,000

    Price

  • Listing provided courtesy of CRMLS

    HOT DEVELOPMENT DEAL! OWNER NEXT DOOR WILL COOPERATE!! THIS IS ONE LOT + POTENTIALLY THE NEIGHBOR LOT MAKES THIS A REMARKABLE OFFERING...R4 DEVELOPMENT SITE...BUY NOW, ENJOY THE INCOME, DEVELOP WHEN YOU ARE READY TO DO SO!! DO NOT DISTURB OCCUPANTS.....SOLD FOR LAND VALUE.....The LEXINGTON DEVELOPMENT SITE is a Remarkable Opportunity.....Owner next door may consider selling as well!.....Reports indicate R4-1VL Zoning TIER 3 on 7.494 Square Feet of Land.....Currently a 4 Unit Apartment Building, all month to month tenancies.....Located close to a Wide Variety of Dining & Hot Spots, as well as Private and Public Schools. Priced to Sell at just a tad over $300 Per Square Foot! Great Opportunity for an R4 Building Site!

  • November, 1998

  • Nov 13, 1998

    Date

    Sold (Public Records)

    Public Records

    $205,000

    Price

Show More

Tax History for 5540 Lexington Ave

Assessed Value (2020): $293,847
Year Land Value Improved Value Assessed Value
2020 $222,182 $71,665 $293,847

Home Value Compared to the Market

This property vs the competition

5540 Lexington Ave sold on May 9, 2024 for 68.3% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $353.39 per/sqft which puts the price per square foot 51.19% lower than the current median sale per square foot for the city of Los Angeles.

About 5540 Lexington Ave

Detailed summary of property

5540 Lexington Ave is a multi family that recently sold in Los Angeles, CA 90038. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 5,334 living square feet, and sits on an approximately 7,494 square foot lot. 5540 Lexington Ave was first listed on ArdentRealEstateGroup.com on March 9, 2021. The homeowner sold the property for $1,885,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 68.3% higher than the current median priced home. Local homes that are currently for sale include 4886 Lexington Ave, 542-544 N Windsor Blvd and 563 N Alexandria Ave. While the average home in Los Angeles, CA is selling in 106 days, 5540 Lexington Ave has a days on market of 1073 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 5540 Lexington Ave Los Angeles, CA 90038 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5540 Lexington Ave

Public county record property details
Beds
8
Baths
4
Year built
1917
Sq. Ft.
5,334
Lot Size
7,494
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
12
APN
5536-008-011

The source for these homes facts are from public records.

90038 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,299,000
Median List Price/Sq.Ft.
$666
Median Sold Price
$1,089,000
Median Sold Price/Sq.Ft.
$642
Total Inventory
47
Median Sale to List Price %
90.83%
Avg Days on Market
48
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (25%), Other (0%)

Thinking of Selling?

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Recently Sold Homes Near 5540 Lexington Ave

5536 Lexington Ave, Los Angeles, CA 90038
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5616 Lexington Ave
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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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