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5716 Lexington Ave, Los Angeles, CA 90038
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5716 Lexington Ave Los Angeles, CA 90038

$3,150,000 Sold Price as of 02/04/2022
  • 20 Beds
  • 14 Baths
  • 6,808 Sq.Ft.
Sold
$3,150,000 Sold Price as of 02/04/2022 Refinance Your Mortgage
Map preview of 5716 Lexington Ave, Los Angeles, CA 90038

Property Overview: 5716 Lexington Ave Los Angeles, CA has 20 bedrooms, 14 bathrooms, 6,808 living square feet and 7,500 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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 Baths. All units are separately metered for gas & electric. Only one unit- #2 is a Sec 8 rental. The other 7 units the current rental rates are within 10% of the market rates. The building is comprised of one two-story building above a subterranean garage, gated & secure parking structure with 16 spaces. Additional amenities include of a laundry room with building owner washer/dryer and control access entry from the units. The property has been very well maintained by the current long-term owner, 3 units have had high-end renovation with upgrades consisting of kitchen appliances, bathrooms, flooring & fixtures. This building presents an opportunity for an investor to maintain a very stable income stream; existing tenants have lived there on the average of over 6 years, rents have been maintained near market rate. Property is being sold in it “as in” condition.

Listed by James Mann | BRE #00546945 | Coldwell Banker Platinum Prop.
Last checked: 14 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 20

Home details

Lot Sq. Ft
7,500
HOA Dues
$0/mo
Year built
1993
Garage
16 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW21242578
City
Los Angeles
County
Los Angeles
Time on Site
917 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 9
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,250
  • Total Rent: $1,250
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,650
  • Total Rent: $2,650
  • Pro Forma/Market Rent: $2,650
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,100
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $2,900
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,950
  • Total Rent: $2,950
  • Pro Forma/Market Rent: $2,950
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,950
  • Total Rent: $2,950
  • Pro Forma/Market Rent: $2,950
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.5%
  • Gross Rent Multiplier: 15.7
  • Gross Scheduled Income: $209,400
  • Net Operating Income: $146,818
  • Gross Operating Income: --
  • Laundry Income: $250
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $62,582
  • Electric: $0
  • Gas/Fuel: $0
  • Licenses: $346
  • New Taxes: $37,000
  • Trash: $4,656
  • Gardener: $2,400
  • Insurance: $3,200
  • Professional Management: $0
  • Water/Sewer: $10,200
  • Other Expenses: $4,780

Property Details for 5716 Lexington Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 16
  • # of Parking Spaces: 16
Lot Information
  • Lot Features: 26-30 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 8
  • Parcel Number: 5536006017
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: No of Santa Monica, West of Western Ave
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 5716 Lexington Ave

Last sold for $3,150,000 on February 4th, 2022

  • February, 2022

  • Feb 4, 2022

    Date

    Sold

    CRMLS: PW21242578

    $3,150,000

    Price

  • Nov 26, 2021

    Date

    Pending

    CRMLS: PW21242578

    $3,285,000

    Price

  • Nov 4, 2021

    Date

    Active

    CRMLS: PW21242578

    $3,285,000

    Price

  • September, 2020

  • Sep 16, 2020

    Date

    Canceled

    CRMLS: PW19214806

    $3,190,000

    Price

  • Oct 25, 2019

    Date

    Price Change

    CRMLS: PW19214806

    $3,190,000

    Price

  • Sep 9, 2019

    Date

    Active

    CRMLS: PW19214806

    $3,649,000

    Price

  • Listing provided courtesy of CRMLS

    **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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Tax History for 5716 Lexington Ave

Assessed Value (2020): $872,658
Year Land Value Improved Value Assessed Value
2020 $435,929 $436,729 $872,658

Home Value Compared to the Market

This property vs the competition

5716 Lexington Ave sold on February 4, 2022 for 176.05% 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 $482.52 per/sqft which puts the price per square foot 36.09% lower than the current median sale per square foot for the city of Los Angeles.

About 5716 Lexington Ave

Detailed summary of property

5716 Lexington Ave is a multi family that recently sold in Los Angeles, CA 90038. This multi family property offered 20 bedrooms, 14 bathrooms, roughly 6,808 living square feet, and sits on an approximately 7,500 square foot lot. 5716 Lexington Ave was first listed on ArdentRealEstateGroup.com on November 4, 2021. The homeowner sold the property for $3,150,000. 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 176.05% higher than the current median priced home. Local homes that are currently for sale include 639 N Alexandria Ave, 326 S Wilton Pl and 1252 N Mansfield Ave. While the average home in Los Angeles, CA is selling in 93 days, 5716 Lexington Ave has a days on market of 20 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 5716 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 5716 Lexington Ave

Public county record property details
Beds
20
Baths
16
Year built
1993
Sq. Ft.
6,808
Lot Size
7,499
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
76
APN
5536-006-017

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.
$706
Median Sold Price
$715,000
Median Sold Price/Sq.Ft.
$659
Total Inventory
42
Median Sale to List Price %
79.44%
Avg Days on Market
17
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (50%), Other (0%)

Thinking of Selling?

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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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