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6477 Lexington Ave, Los Angeles, CA 90038
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6477 Lexington Ave Los Angeles, CA 90038

$1,750,000 Sold Price as of 06/26/2019
  • 7 Beds
  • 8 Baths
  • 4,732 Sq.Ft.
Sold
$1,750,000 Sold Price as of 06/26/2019 Refinance Your Mortgage
Map preview of 6477 Lexington Ave, Los Angeles, CA 90038

Property Overview: 6477 Lexington Ave Los Angeles, CA has 7 bedrooms, 8 bathrooms, 4,732 living square feet and 6,925 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present an eight unit multifamily property located in Hollywood, California. Situated at 6477 Lexington Avenue, north of Santa Monica Boulevard and west of Vine Street, the property is well positioned in the heart of Hollywood.Constructed in 1921, the property features a streamlined unit mix of seven (7) one bedroom/one bathroom units and one (1) studio/1 bathroom unit. Tenants enjoy privacy from the main street, gated entry, and spacious units. The units are divided between two separate buildings on one lot. The property is subject to the City of Los Angeles' Rent Control Ordinance and is situated in a strong rental pocket of Hollywood. Situated in the heart of central Hollywood, this offering presents an excellent opportunity for an investor to acquire in a prime location and dense rental pocket with great upside potential.

Listed by Jason Tuvia | BRE #01772495 | Marcus & Millichap
Last checked: 6 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 33

Home details

Lot Sq. Ft
6,925
HOA Dues
$0/mo
Year built
1921
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19451602
City
Los Angeles
County
Los Angeles
Time on Site
1213 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $869
  • Total Rent: $869
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,138
  • Total Rent: $1,138
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,236
  • Total Rent: $1,236
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,034
  • Total Rent: $1,034
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,366
  • Total Rent: $1,366
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $984
  • Total Rent: $984
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,079
  • Total Rent: $1,079
  • Pro Forma/Market Rent: $1,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.36%
  • Gross Rent Multiplier: 18.56
  • Gross Scheduled Income: --
  • Net Operating Income: $68,948
  • Gross Operating Income: $110,480
  • Improvements Total: $158,652
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 6477 Lexington Ave

Interior Features
Laundry Information
  • Has Laundry
  • See Remarks
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Street
Lot Information
  • Lot Features: Sprinklers None
Property Information
  • Total # of Units: 7
  • Parcel Number: 5533001051
Homeowners Association, Utilities, Taxes / Assessments
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: Situated at 6477 Lexington Avenue, north of Santa Monica Boulevard and west of Vine Street, the property is well positioned in the heart of Hollywood.
View more facts & features

Local Los Angeles Agent

Sale History for 6477 Lexington Ave

Last sold for $1,700,000 on June 26th, 2019

  • June, 2019

  • Jun 27, 2019

    Date

    Sold

    CRMLS: 19451602

    $1,750,000

    Price

  • May 7, 2019

    Date

    Active Under Contract

    CRMLS: 19451602

    $2,050,000

    Price

  • Apr 4, 2019

    Date

    Active

    CRMLS: 19451602

    $2,050,000

    Price

  • June, 2019

  • Jun 26, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,700,000

    Price

  • December, 2018

  • Dec 24, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 6477 Lexington Ave

Assessed Value (2020): $1,734,720
Year Land Value Improved Value Assessed Value
2020 $1,213,800 $520,920 $1,734,720

Home Value Compared to the Market

This property vs the competition

6477 Lexington Ave sold on June 26, 2019 for 72.27% 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 $433.22 per/sqft which puts the price per square foot 42.62% lower than the current median sale per square foot for the city of Los Angeles.

About 6477 Lexington Ave

Detailed summary of property

6477 Lexington Ave is a multi family that recently sold in Los Angeles, CA 90038. This multi family property offered 7 bedrooms, 8 bathrooms, roughly 4,732 living square feet, and sits on an approximately 6,925 square foot lot. 6477 Lexington Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,750,000. 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 72.27% higher than the current median priced home. Local homes that are currently for sale include 716 N Van Ness Ave, 5633 La Mirada Ave and 5418 Lemon Grove Ave. While the average home in Los Angeles, CA is selling in 94 days, 6477 Lexington Ave has a days on market of 33 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 6477 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 6477 Lexington Ave

Public county record property details
Beds
8
Baths
6
Year built
1921
Sq. Ft.
4,732
Lot Size
6,924
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
27
APN
5533-001-051

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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