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    4848 Lexington Avenue

    Los Angeles (City), CA 90029
    • $6,450,000
    • STATUS: Active
    • ON SITE: 24 days
    • ID#: 20639874
    UPDATED: 51 min ago
    $6,450,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    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 14% loss-to-lease, that can achieve a pro forma CAP rate of 5.43% through further renovations when the units turn. The building features a unit mix of22 singles and 8 one-bedrooms. The property is being offered at a13.63 GRM on current income and a low price per unit of $215,000.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 California Regional Multiple Listing Service, Inc. as of 2020-10-25T11:26:45.23. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/110542748
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    4848 Lexington Avenue Los Angeles (City), CA 90029

    • Price: $6,450,000
    • Status: Active
    • Updated: 51 min ago
    • ID#: 20639874
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1927
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - 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 14% loss-to-lease, that can achieve a pro forma CAP rate of 5.43% through further renovations when the units turn. The building features a unit mix of22 singles and 8 one-bedrooms. The property is being offered at a13.63 GRM on current income and a low price per unit of $215,000.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 Size Dimensions 58X135 Lot Size Units Square Feet Parking Features None Parking YN No

    Interior Features

    Appliances Gas Oven Appliances YN Yes Flooring Wood Interior Features Cathedral Ceiling(S) Laundry Features Community Window Features Plantation Shutters

    Property Features

    Country Us Gross Income 472404.00 Gross Multiplier 13.65 Gross Operating Income 448784.00 Laundry YN Yes Net Operating Income 277093.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 171691.00 Zoning Rd1.5-1Xl

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-25T11:26:45.23. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

     
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